NEW YORK, April 21 (Reuters) - National City Corp (NCC.N: Quote, Profile, Research), a large U.S. Midwest regional bank, said on Monday it is raising $7 billion by selling shares as it posted a first-quarter loss and slashed its dividend.
A dilutive capital raise, a weak first quarter and investor disappointment that the company was not selling itself after it said earlier this month it was reviewing strategic alternatives sent its shares down nearly 25 percent.
Its at 6.00, any thoughts, looks cheap here imo.
A dilutive capital raise, a weak first quarter and investor disappointment that the company was not selling itself after it said earlier this month it was reviewing strategic alternatives sent its shares down nearly 25 percent.
Its at 6.00, any thoughts, looks cheap here imo.