Prosperity Bancshares Inc. (NYSE:PB) closed at $51.51 by increasing of 3.98% on Friday as it declared that net income for the quarter ended September 30, 2015 of $70.598 million or $1.01 per diluted ordinary share. Additionally, nonperforming assets remain low at 0.26% of third quarter average earning assets with a yearly return on third quarter average assets of 1.30%. Net income was $70.598 million for the three months ended September 30, 2015 compared with $76.570 million for the same period in 2014. Net income per diluted ordinary share was $1.01 for the three months ended September 30, 2015 compared with $1.10 for the same period in 2014. Net income (not comprising purchase accounting adjustments) was $64.154 million for the quarter ended September 30, 2015 compared with $58.635 million for the quarter ended September 30, 2014, an raise of 9.4%. Shares price moving up from its 20 days moving average with 3.92% and isolated positively from 50 days moving average with 2.93%.
Valley National Bancorp (NYSE:VLY) climbs 1.19% to close at $10.21 as it along with CNLBancshares, Inc. (CNLB) together reported that all regulatory and shareholder authorization s necessary to complete the before reported merger of CNLBancshares with and into Valley have been attain. The ordinary shareholders of CNLBancshares will receive 0.75 of a share of Valley ordinary stock for each CNLBancshares share they own, subject to adjustment in the event Valley’s average stock price falls below $8.80 or rises above $10.13 previous to closing. The transaction closing is anticipated in December 2015. CNLBancshares’ wholly-owned subsidiary, CNLBank, headquartered in Orlando, Florida, has about $1.4 billion in assets, $843 million in loans, and $1.1 billion in deposits, with a 16 branch network. The acquisition supports the continued execution of Valley’s Florida growth strategy, expanding the franchise into two new markets and strengthening two of Valley’s legacy Florida markets, producing an initial total branch network of 36 offices. The total market capitalization remained 2.38 Billion. The firm is ahead its 52 week low of 8.80 and going down from its 52 week high price of -1.63%.
Golar LNG Ltd. (NASDAQ:GLNG) raised 0.50% to finish at $30.02 as it receives financing facility (increased to $216 million) for the December 2015 delivering newbuild FSRU Golar Tundra. The firm receives an underwritten financing commitment for the December 2015 delivering newbuild FSRU Golar Tundra. Based on the current cost of the Tundra, the facility of up to $216 mln, to be provided by China Merchants Bank Leasing, has a 16 year amortisation profile, will fund the FSRU on a charter free basis, and, at current 10 year interest rate swap levels, will have an all-in cost of less than 6%. On the current charter free basis the facility will finance a minimum of $50 mln over the final delivery payment to the ship yard thereby releasing this additional cash to Golar. As part of this financing commitment China Merchants Bank Leasing will also provide a parallel facility to refinance it’s Golar Eskimo. The corporation has return on equity of -0.60% and while returns on assets was calculated -0.30% with -15.73% year to date performance. The yearly sales growth for the past five year was -13.30%.
