Financial Services – Sznurki Wed, 23 Nov 2022 19:12:12 +0000 en-US hourly 1 Financial Services – Sznurki 32 32 People in the retirement industry are on the move | PLANADVISER Wed, 23 Nov 2022 19:12:12 +0000

Voya expands its distribution team

Voya’s heritage solutions the company recently promoted Ben Moy as Vice President, Director of Consultant Relations.

In his new role, Moy is responsible for developing and leading strategic relationships with some of Voya’s most important channel partners serving the wealth management solutions industry. He will also continue to grow and maintain his business with key national and regional consultants across all market segments of Voya’s wealth management solutions.

Most recently, Moy served as Business Development Manager of Strategic Growth, where he focused on leading the sales support team supporting all Wealth Management Solutions markets, including RFP and business development teams.

Moy began her new role at Voya on November 1 and reports directly to Lori Commerford, Vice President and Head of Channel Relations. He is based in Sutton, Massachusetts, in a hybrid role from Voya’s office in Braintree, Massachusetts. He holds a Bachelor of Science in Business Administration from Boston University’s Questrom School of Management, as well as FINRA Series 6 and Series 26 licenses.

Ryan Financial Group joins the Commonwealth

Commonwealth Financial Networka national company dedicated to providing financial advisors with holistic and integrated business solutions, announced the addition of the Minnesota-based company Ryan Financial Group to its network of financial advisors. Formerly of Lincoln Financial Group, Chairman Jack Ryan, Advisors John Ryan, Greg Stalsberg, Tony Wilson and Ryan Wahlund, and their support staff, bring in nearly $750 million in client assets.

As an independent, employee-owned financial advisory firm, Ryan Financial Group serves the individual needs of clients in an underserved market segment that often gets a one-size-fits-all solution. Focusing on private wealth management and pension advice, the team’s institutional-caliber knowledge and experience allow them to combine their significant expertise with a personalized approach that presents complex ideas in a way that investors can understand. clients. This accessibility, along with their strong ties to the community, has allowed the business to grow organically: nearly all new clients are referrals from existing clients or centers of influence.

DigitalOcean appoints its Chief Financial Officer

Digital Ocean Holdings, Inc.a cloud for developers, startups and small and medium enterprises, announced the appointment of Matt Steinfort as Chief Financial Officerfrom January 2023.

Steinfort joins DigitalOcean from Zayo Group Holdings, a global communications infrastructure platform with $2.6 billion in revenue in 2019, its final year as a public company. Steinfort served as Chief Financial Officer and oversaw all financial operations, strategy, and mergers and acquisitions beginning in 2017. Prior to joining Zayo, Steinfort founded Envysion, a video intelligence software company as a service, where he also served as Chairman and CEO. . He has also held senior positions at ICG Communications, Level 3 Communications, Bain & Company and Cambridge Technology Partners.

Current chief financial officer Bill Sorenson announced his retirement in August. Sorenson, who joined the company with CEO Yancey Spruill in 2019 and led the company through its successful IPO in March 2021, will remain on the DigitalOcean team as an executive advisor until the summer. 2023 to ensure a smooth and seamless transition.

Ritholtz Wealth Management appoints its chairman

Ritholtz Wealth Management LLCa registered investment adviser with $2.8 billion in assets under management, announced the hiring of Jay Tini as President. In the newly created role, Tini will support the entire company and founding partners, including Josh Brown, CEO; Barry Ritholtz, President and Chief Investment Officer; Kris Venne, managing partner; and Michael Batnick, Managing Partner.

A former divisional sales manager at Vanguard, Tini will join RWM in January 2023. At Vanguard, Tini was a vital part of the leadership team that oversaw the company’s RIA activities. He brings more than 20 years of RIA and asset management experience to his new role, having served as a director of global asset management firm AllianceBernstein.

Tini holds an MBA from Drexel University’s LeBow College of Business and a BS in Finance from Boston College. At RWM, he will be responsible for the day-to-day management of the company’s operations, providing the founding partners with the opportunity to offer market commentary, analysis, insights, financial advice and investment management.

Heffernan Financial Services acquires Osland Financial Group

Heffernan Financial Services announced the acquisition of Osland Financial Group, located in Scottsdale, Arizona. Michael Osland and his team of four employees joined Heffernan Financial Services effective November 1. The Osland office is Heffernan’s second office in Arizona and 19th in the United States.

Michael Osland has 35 years of experience in the financial services industry and founded Osland Financial Group in 1996. Osland specializes in a wide range of financial products and services for individuals and business owners, including managing wealth, retirement strategies, insurance and annuity products.

Modera Wealth Management Announces Additions of Stonebridge, Bernhardt

Modera Wealth Management, LLCa comprehensive fee-based financial planning company, announced its expansion into Virginia in November 2022 through a transaction with Bernhardt Wealth Management.

The entire Bernhardt team – Gordon Bernhardt, Tim Koehl and Solon Vlasto – joined Modera, each as a director and wealth manager.

Bernhardt Wealth Management was established in 1994 to provide a high quality service based on the principle of fiduciary protection. Since then, the McLean, Va. office has been helping individuals, families and business owners across the country make informed decisions about their money so they can focus on what matters most to them. .

Modera also announced the addition of Jennifer Murray, Founder of Stonebridge Financial Advisors, LLC to her team of advisors.

Murray founded Stonebridge Financial Advisors in 2004 after the death of her husband. Since then, she has drawn on her own life experience to help provide clients with caring financial advice and guidance, with a particular dedication to helping other widowed or recently divorced women overcome these challenges. Prior to starting his own company, Murray spent two decades in the financial services industry serving high net worth individuals and families.

Grindr shares soar as LGBTQ dating app debuts after SPAC merger Fri, 18 Nov 2022 20:54:31 +0000

LGBTQ social networking platform Grindr is holding a public offering outside of the New York Stock Exchange (NYSE) as the company goes public following its merger with special purpose acquisition company (SPAC) Tiga Acquisition Corp. on November 18, 2022 in New York. .

Spencer Platt | Getty Images

Traders, bank workers and tourists weren’t the only ones around Wall Street Friday morning. Drag queens were also there.

The group of artists, some of whom are known for their appearances on the competition show “RuPaul’s Drag Race”, performed on a rainbow stage in front of the New York Stock Exchange. It was part of a celebration of the public markets debut of LGBTQ dating app Grindr following a merger with blank check company Tiga Acquisition.

Under its new symbol GRND, the company began trading on the NYSE at $16.90 per share on Friday, surging to a session high of $71.51. The stock’s value more than doubled to $36.50 at market close.

Grindr CEO George Arison, who has been in the role for about a month, was quick to cite the debut as a reflection of broader LGBTQ inclusion, both in finance and more broadly.

“It’s a pretty incredible thing that a company whose primary user base is gay and bisexual men, built by and for the LGBTQ population, with an employee base that’s also significant in this cohort of the population is now public,” Arison said. “It’s not something that wouldn’t have happened 20 years ago, probably wouldn’t have happened even 10 years ago.”

He said on CNBC’s “Squawk on the Street” on Friday about an hour after company officials rang the opening bell that the small volume of stock available and interest in the company contributed to its first rally.

Grindr’s party featured a stage for drag queens, with attendees that included employees, financial services professionals, volunteers for LGBTQ community groups and social media influencers. The New York Stock Exchange was lined with rainbow markers and pride flags in recognition of the event.

Before the opening bell, New York Stock Exchange President Lynn Martin spoke about the importance of an LGBTQ-centric company’s place in the stock market. Indeed, it wasn’t until 2015 that the United States Supreme Court ruled that the Constitution guaranteed same-sex marriage rights. Martin was one of many speakers who noted the emotional nature of the platform holding this celebration in the same neighborhood where the first of multiple protest demonstrations for greater awareness of the AIDS epidemic occurred there about 35 years ago.

“Can you imagine what those 250 people would think if they saw us all here today? she said of the protesters. “They would celebrate the fact that through freedom of speech they were able to pave the way for a more equitable future, a more equitable society – a society that does not discriminate on the basis of skin color, race, sex or whoever you like.”

“The power of the app”

The excitement around Grindr’s debut doesn’t lessen the difficulties of the current bear market. Information technology and communication services stocks were hit hard, with S&P500 sectors down 24.5% and 37.8% respectively since the start of the year.

Grindr”s debut also comes in a year when other dating apps are struggling, with Bumblebee and Match plummeting by 31.7% and 64.9% since the start of the year. Grindr’s reputation is mixed, with some saying it’s known more for hookups than dating, but the company markets itself as an online community space.

The app is also being challenged by Motto, a new unlisted platform created by Grindr founder Joel Simkhai. He left the company five years ago.

Arison said Grindr will separate itself from competitors by explaining, in part, that it’s more like a social network given LGBTQ-themed resources on topics related to HIV preventive medicine and monkeypox, as well as company data that shows the average user spends 61 minutes a day on the platform.

“We have this very unique engagement with our user base,” he said.

A bear market does not negate the long-term benefits of being public, such as increased hiring potential, the ability to raise capital and potential mergers or acquisitions, he said. In addition to goals of continuing to expand monetizable offerings like subscriptions and profile “boosting,” the company could consider adding things like travel recommendations to improve user experience, Arison added.

Meanwhile, he said Grindr is excited to share what he calls a strong business model with Wall Street. He said the first half of 2022 saw revenue of $90 million, showing 42% growth from the same period a year ago. The company also posted 26% year-over-year growth in adjusted EBITDA.

Arison said Grindr is unique in that it only spends 1% of its revenue on marketing due to its high profile among its target audience of people who identify as men who are interested in others who identify as men. It had around 11 million active monthly users in almost every country in the world in 2021.

He said any concerns about how homophobia could impact business performance have been brushed aside by meetings with investors and others in the finance world who seem interested in the business and how. it could be negotiated. Grindr is expected to see a total addressable market of $4 billion for all of 2022.

Arison was surprised at “the app’s understanding of the power for the community and its users, and how well investors understand what the app does for people,” he said. “It was super encouraging and exciting.”

“The picture is dark”

Proponents say Grindr’s IPO is undoubtedly a milestone for inclusion in financial services, but it can’t overshadow the many areas where progress is still needed.

Banks have taken massive action to support same-sex marriage and equality, said Michael Maldonado, communications manager for advocacy group Out in Finance. But Maldonado said financial services can still exclude people who don’t fit a straight, white and cisgender image, pointing to the difficulties faced by photo and video sharing platform OnlyFans, known for its use to monetize sexually explicit content when trying to make it public.

He highlighted the specific barriers that transgender people face when trying to enter the field and the lack of inclusion of LGBTQ-owned businesses in the environmental, social and governance investment space as two areas. which still need to be improved.

“It says a lot that there were investors willing to tie their name to what this company is known for and help market it,” Maldonado said. But, “that’s not the only thing happening in our industry. There are a lot of different things happening to continue the progress you’ve seen in the financial services community.”

There’s also a lack of standardized research on the support LGBTQ-owned businesses receive when trying to raise capital, said William Burckart, co-founder of Colorful Capital, which helps connect such businesses to capital. He also said these companies can struggle with few investors willing to step up, which requires the most risk.

Burckart said the micro and macro aggressions continue. He heard of a female landlord who told him she should bring a man with her to be “taken seriously”. A transgender founder was asked “are you really a woman?” during the due diligence process with a gender-focused investment firm.

“The LGBTQ plus community is kind of this gray space on the economic map of the world,” he said, noting that the fault is not with LGBTQ people themselves. “In reality, it’s kind of like we know the picture is dark to the extent that we can even see the picture.”

Still, Maldonado and others note that Grindr’s success could lead to it gaining analyst or potentially indexed coverage, which would increase its reach. Arison said it adds to a picture of progress that has improved this week with the House of Representatives passing a bill that would codify same-sex marriage.

And as Martin prepared a cheering crowd to watch Grindr management ring the opening bell on Friday, she felt the importance of free speech in the stock market.

“The only way to move a society forward is through a true expression of freedom,” she said. “And that’s why we’re so excited to celebrate Grindr’s IPO today.”

TAPMI Launches Online MBA in Banking and Financial Services for Working Professionals Wed, 16 Nov 2022 11:25:17 +0000

TA Pai Management Institute (TAPMI), a constituent unit of Manipal Academy of Higher Education (MAHE), has launched an online Master of Business Administration in Banking and Financial Services (MBA-BKFS) program. This specialized two-year program will be taught entirely online.

It has been specially curated by TAPMI to be delivered to working professionals in online mode. Equipped with state-of-the-art digital infrastructure, an up-to-date curriculum and 4 industry-focused electives, the program equips learners with exposure to digital transformation in banking, crypto- currency and blockchain, and other innovations in the new-aging BFSI environment.

This is a two-year degree program where learners could virtually interact with TAPMI faculty during weekend live lectures. As part of this 100% online program, students will have access to live virtual classes, an advanced digital platform, experienced teachers, e-books and case studies from which to study, as well as TAPMI alumni status.

The institute is reportedly offering only 120 places for the program at a special introductory price of Rs 5,60,000. Students in the online program will be offered easy funding options in the form of low-interest loans and partial payment facilities to enable them to secure places seamlessly. Additionally, students can also apply for student loans for tax benefits.

The program provides integrated learning for participants with one or more years of experience by offering four industry-focused electives – Banking, Analytics for Banking and Finance, Capital Markets and Advanced Corporate Finance. “At the end of the program, learners would be able to excel in roles and areas such as wealth management, investment banking, financial analysis and risk management, investment and services funds, asset management, corporate banking, investor relations and financial compliance, to name a few,” the institute states.

Speaking at the launch, Professor Madhu Veeraraghavan, TAPMI Chair Director & T. A Pai, Professor of Finance, said, “The TAPMI-BKFS program has been offered in on-campus mode since 2014 and has recorded a 100% job placement. We are now excited to launch our specially curated online MBA-BKFS program which will impact and empower more future leaders by building their capacity and facilitating their leadership journey in the BFSI sector.”

Read all the latest education news here

Veterans Day 2022: Moving from military service to financial services Fri, 11 Nov 2022 22:24:04 +0000 McKenna found the Army as a young man ready to take his next big step. Born and raised in Placerville, California, a small town in the foothills with a current population of around 10,000, he was preparing to be the first person in his family to attend college when he enlisted.

McKenna said he always had a strong sense of service, even when he was in elementary school.

“Instead of wanting to be student body president, I was president of the Key Club,” he said. “And I liked a lot of things about the military, but I was really interested in the service side.”

The son of a mother who worked as a mail carrier for more than 30 years, McKenna said he grew up having a very middle-class background – one backed by his mother’s hard work.

He wanted to make her and everyone who supported him proud. So he dedicated himself to becoming the first in his family to pursue higher education after graduating from high school.

“I was looking for different ways to get there, and the service academy was a really good fit for me. But I’m an only child and my mom was like, ‘You know. can stay in California and stay closer to home,” he said. “She and I started talking about ROTC (from the military), and when I looked into it, it actually seemed like such a good fit because I can satisfy that interest in military service and get a scholarship. and go to college in California.”

That decision led to a full ROTC scholarship that took him to the University of Southern California, close enough for his mother to come but far enough to establish his own independence.

As an undergraduate, McKenna majored in accounting. He knew he wanted a skill that would allow him to always put food on the table, but also to learn the language of business.

His time at USC ended with him being a Distinguished Military Graduate, a designation awarded to top ROTC students. McKenna met this honor with great enthusiasm as it meant he was more likely to be selected for active duty.

Interested in technology, he kept an extremely busy schedule over the next four years. He was a signal corps officer specializing in cyber command at Fort Gordon, Georgia. Then he went to airborne school to learn how to jump out of planes. Then he went to Alaska to train in warfare and survival. Then he went to Korea to work in military intelligence as a signals corps officer in charge of technology operations for his intelligence group.

“From there I went to Panama. I went to a language school to learn Spanish and ended up working for General Barry McCaffrey, who was the commander in chief of the American forces in South America. So I spent about a year and a half working in a four-star staff as a very junior officer… incredible experience,” McKenna said.This experience led him to work in a Cuban refugee camp in early 1990s, helping Cubans trying to get to the United States.

“I ran this thing called the Family Support Center, which was one of the most sincere things I did in the military. It was reconnecting Cuban families around the world with Cubans who were escaping tyranny. of Castro’s Cuba,” he said. “It was this wonderful connection between service and humanity and people trying to do their best. So my four years in the military have been amazing.”

With so many rotating and changing responsibilities in just four years, McKenna relied on his military training to stay disciplined. He was given responsibilities beyond those of the average college graduate in his twenties.

Now an Army lieutenant, McKenna continued his service with a graduate school at Georgetown University when he developed a keen interest in investment banking and gained official entry to Wall Street through JP Morgan.

The years that followed were just as action-packed as his four years in the military and included co-founding four companies, two investment funds and a non-profit organization.

“There were definitely a lot of things that I was probably inexperienced at. But that’s another thing about military service. You’re adaptive and you have a natural entrepreneurial orientation. And you’ll just spend hours figuring out how to achieve the goal,” McKenna said. “And then another cool thing was that there were other veterans in my class and a few others around the bank, and we had a way to find each other. The military network is really strong and people are ready to help each other. So I was able to access a very high level position on Wall Street thanks to my military experience and a few years of higher education.

Today, as one of Facet’s leaders, McKenna upholds his military values ​​and quickly puts others first. He said he remembers making his mom proud and wanting to provide opportunities for other small-town kids who want to make an impact.

So when he thinks of the term “financial services,” he focuses more on the second word than the first.

“My mom worked hard. It was a really good upbringing. But we certainly didn’t have someone who was by our side when we were thinking about financial decisions,” McKenna said. “Everyone was a transaction. A mortgage. Or a credit card. Or a bank loan. Everything is a transaction, not a relationship. person of value and offer it in the same way, but at the right price, to a bigger market? And honestly, that’s the foundation of Facet.”

Ceros Financial Services arranges $7.5 million financing for Wesper Tue, 08 Nov 2022 16:08:00 +0000

Wesper Home Sleep Lab includes a wearable device that monitors sleep conditions For clinical-grade assessment, analysis and treatment

MIAMI, November 8, 2022 /PRNewswire/ — Ceros Financial Services announced that Ceros Capital Markets, its investment banking division, has completed a $7.5 million Series A cycle for Wesper, which developed the first FDA-cleared, clinical-grade platform to deliver the complete cycle of sleep therapy to home users.

Wesper’s sensors and algorithms provide in-home medical diagnosis and continuous measurements, before, during and after treatment. With Wesper, users have access to personalized and professional advice from sleep specialists without having to leave their home.

“Millions of people suffer from sleep disorders, but many never receive feedback or assistance due to the lack of easy sleep testing. Wesper essentially provides a home sleep lab with professional advice,” said Marc GoldwasserCEO of Ceros Financial Services.

Ceros is focused on raising funds for early-stage medical technology and medical device companies that are developing disruptive technologies for diagnostic and non-invasive procedures. Since 2020, Ceros has achieved approximately $165 million in medical technology transactions. The company aims to raise approximately $100 million over the next twelve months, Goldwasser said.

Recent offerings from Ceros include $15 million for GT Metabolic Solutions, which has developed an incisionless bariatric and digestive surgery technology, and a $18 million funding round with Peregrine Ventures for Cordio Medical, which has developed technology to monitor changes in chronic heart failure conditions through the analysis of recorded voice samples in a simple smartphone app.

Ceros has also placed an additional $10 million for DemaSensor, which designs non-invasive tools that use machine learning and spectroscopy to assess skin lesions for cancer, and $15 million for Pristine Surgical, which has developed a single-use platform for endoscopic procedures.

About Ceros Financial Services, Inc.

Ceros Financial Services, Inc. Member FINRA/SIPC ( offers a comprehensive asset and mutual fund management suite for financial advisors. Ceros services include RIA custody, hybrid advisors, corporate RIA, mutual fund advisory and distribution, and an outsourced dealing desk. In addition, Ceros Capital Markets, a division of Ceros Financial, is a digital and traditional platform for the distribution of primary offers in medical devices and secondary offers in unicorns via Special Purpose Vehicles (SPV).

Investing in stock markets involves risk, including loss of principal. Private placements are not suitable for all investors. Most, if not all, investments in private placements are illiquid and many of these investments are speculative in nature. Investing in a private placement may entail a significant risk of loss of capital. Risk factors for private offerings are listed in the private placement memorandum; and should be read carefully before investing.

SOURCECeros Financial Services

Trade Alert: PennyMac Financial Services, Inc. (NYSE: PFSI) Managing Director and Mortgage Operations Manager, James Follette, Recently Sold Stock Sat, 05 Nov 2022 15:01:56 +0000

Some PennyMac Financial Services, Inc. (NYSE: PFSI) Shareholders might be a little concerned that CEO and Mortgage Operations Manager James Follette recently sold $1.6 million worth of stock at $53.60 per share. Probably the most concerning element of the whole transaction is that the disposal amounted to 98% of their entire stake.

Our analysis indicates that PFSI is potentially undervalued!

PennyMac Financial Services Insider Trading in the Last Year

Over the past year, we can see that the biggest insider sale was by CEO and Chairman David Spector for $2.6 million worth of stock, at around $58.58 per share. While we generally don’t like to see insider selling, it’s more of a concern if the selling takes place at a lower price. The silver lining is that this sale took place above the last price (US$51.50). It is therefore difficult to draw a firm conclusion.

PennyMac Financial Services insiders haven’t bought any shares in the past year. You can see insider trading (by companies and individuals) over the past year illustrated in the table below. If you click on the chart, you can see all individual trades including stock price, individual and date!

NYSE: PFSI Insider Trading Volume November 5, 2022

I’d like PennyMac Financial Services better if I see big insider buys. In the meantime, watch this free list of growing companies with significant and recent insider buying.

Does PennyMac Financial Services boast high insider ownership?

Another way to test alignment between a company’s executives and other shareholders is to look at how many shares they own. We generally like to see fairly high levels of insider ownership. It’s great to see that insiders at PennyMac Financial Services own 12% of the company, worth around $305 million. This type of significant insider ownership generally increases the chances that the company will be run in the best interests of all shareholders.

So what does this data suggest about PennyMac financial services insiders?

Insiders have been selling stocks recently, but they haven’t been buying. Looking at the last twelve months, our data shows no insider buying. Although insiders hold a lot of stock in the company (which is good), our analysis of their transactions does not give us confidence in the company. So, while it is useful to know what insiders are doing in terms of buying or selling, it is also useful to know the risks that a particular company faces. Every business has risks, and we’ve spotted 2 warning signs for PennyMac Financial Services (1 of which should not be ignored!) that you should know.

Sure PennyMac Financial Services may not be the best stock to buy. So you might want to see this free set of high quality companies.

For the purposes of this article, insiders are persons who report their transactions to the relevant regulatory body. We currently record open market transactions and private dispositions, but not derivative transactions.

Valuation is complex, but we help make it simple.

Find out if PennyMac Financial Services is potentially overvalued or undervalued by viewing our full analysis, which includes fair value estimates, risks and warnings, dividends, insider trading and financial health.

See the free analysis

This Simply Wall St article is general in nature. We provide commentary based on historical data and analyst forecasts only using unbiased methodology and our articles are not intended to be financial advice. It is not a recommendation to buy or sell stocks and does not take into account your objectives or financial situation. Our goal is to bring you targeted long-term analysis based on fundamental data. Note that our analysis may not take into account the latest announcements from price-sensitive companies or qualitative materials. Simply Wall St has no position in the stocks mentioned.

Geojit Financial Services Q2 2023 Earnings: EPS: ₹0.97 (vs. ₹1.66 in Q2 2022) Thu, 03 Nov 2022 00:43:35 +0000

Geojit Financial Services (NSE:GEOJITFSL) Second Quarter 2023 Results

Main financial results

  • Revenue: ₹1.11 billion (down 12% from Q2 2022).
  • Net profit: ₹230.9m (down 42% from Q2 2022).
  • Profit margin: 21% (compared to 31% in the 2nd quarter of 2022).
    • The decrease in the margin is mainly explained by the decrease in revenues.
  • EPS: ₹0.97 (from ₹1.66 in Q2 2022).
NSEI: GEOJITFSL Earnings and Revenue History November 3, 2022

All figures shown in the table above are for the 12 month period (TTM)

Geojit Financial Services stock price is broadly unchanged from a week ago.

Risk analysis

It must be said that we discovered 1 warning sign for Geojit Financial Services which you should be aware of before investing here.

Valuation is complex, but we help make it simple.

Find out if Geojit Financial Services is potentially overvalued or undervalued by viewing our full analysis, which includes fair value estimates, risks and warnings, dividends, insider trading and financial health.

See the free analysis

This Simply Wall St article is general in nature. We provide commentary based on historical data and analyst forecasts only using unbiased methodology and our articles are not intended to be financial advice. It is not a recommendation to buy or sell stocks and does not take into account your objectives or financial situation. Our goal is to bring you targeted long-term analysis based on fundamental data. Note that our analysis may not take into account the latest announcements from price-sensitive companies or qualitative materials. Simply Wall St has no position in the stocks mentioned.

Enterprise Financial Services Corp (NASDAQ:EFSC) sees surge in short-term interest Sun, 30 Oct 2022 23:19:24 +0000

Enterprise Financial Services Corp (NASDAQ:EFSC – Get Rating) saw a significant increase in short-term interest in October. As of October 15, there was short interest totaling 591,000 shares, an increase of 24.1% from the total of 476,400 shares as of September 30. Based on an average daily volume of 104,100 shares, the day-to-cover ratio is currently 5.7 days.

Wall Street analysts predict growth

Several brokerages have weighed in on EFSC recently. Raymond James raised its price target on corporate financial services from $53.00 to $58.00 and gave the company an “outperform” rating in a research report on Wednesday. upgraded Enterprise Financial Services from a “buy” to a “hold” rating in a Thursday, October 13 research report. DA Davidson upgraded Enterprise Financial Services from a “neutral” rating to a “buy” rating and raised its price target for the company from $46.00 to $60.00 in a research report on Wednesday. Finally, Piper Sandler raised its price target on corporate financials to $51.00 and gave the company an “outperform” rating in a Wednesday, July 27 research report. One research analyst gave the stock a hold rating and four gave the company a buy rating. Based on data from, Enterprise Financial Services currently has a consensus rating of “Moderate Buy” and a consensus target price of $56.33.

Corporate financial services price performance

Enterprise Financial Services stock traded at $1.34 midday Friday, hitting $53.28. 205,538 shares of the company were traded, against an average volume of 128,592. Enterprise Financial Services has a 52-week low of $39.63 and a 52-week high of $53.56. The stock has a 50-day moving average price of $46.88 and a 200-day moving average price of $45.34. The company has a debt ratio of 0.31, a quick ratio of 0.91 and a current ratio of 0.91. The company has a market capitalization of $1.98 billion, a P/E ratio of 10.51 and a beta of 1.12.

Enterprise Financial Services (NASDAQ:EFSC – Get Rating) last released its quarterly results on Tuesday, October 25. The bank reported earnings per share (EPS) of $1.32 for the quarter, beating the consensus estimate of $1.24 by $0.08. Enterprise Financial Services posted a return on equity of 13.82% and a net margin of 36.51%. In the same quarter last year, the company earned earnings per share of $1.27. On average, equity research analysts expect corporate financial services to post earnings per share of 5.08 for the current year.

Corporate financial services increase their dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 30. Shareholders of record on Thursday, December 15 will receive a dividend of $0.24 per share. The ex-dividend date is Wednesday, December 14. This represents an annualized dividend of $0.96 and a yield of 1.80%. This is a positive change from Enterprise Financial Services’ previous quarterly dividend of $0.23. Enterprise Financial Services’ payout ratio is 18.15%.

Institutional investors weigh on corporate financial services

Several hedge funds have recently increased or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Enterprise Financial Services by 0.6% during the first quarter. Vanguard Group Inc. now owns 1,826,207 shares of the bank worth $86,398,000 after buying an additional 10,203 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Enterprise Financial Services by 2.3% during the first quarter. Dimensional Fund Advisors LP now owns 1,116,234 shares of the bank worth $52,810,000 after buying 25,403 additional shares in the last quarter. State Street Corp increased its stake in shares of Enterprise Financial Services by 5.4% in the 1st quarter. State Street Corp now owns 1,076,939 shares of the bank valued at $50,950,000 after acquiring an additional 55,090 shares in the last quarter. Jennison Associates LLC increased its stake in shares of Enterprise Financial Services by 3.3% in the second quarter. Jennison Associates LLC now owns 1,008,733 shares of the bank valued at $41,862,000 after acquiring 32,449 additional shares in the last quarter. Finally, Macquarie Group Ltd. increased its stake in shares of Enterprise Financial Services by 4.8% in the 2nd quarter. Macquarie Group Ltd. now owns 997,341 shares of the bank valued at $41,390,000 after acquiring an additional 45,805 shares in the last quarter. Institutional investors hold 69.03% of the company’s shares.

About Business Financial Services

(Get an evaluation)

Enterprise Financial Services Corp operates as a financial holding company for Enterprise Bank & Trust which offers banking and wealth management services to individuals and businesses. The company offers checking, savings and money market accounts, as well as certificates of deposit. It also offers commercial and industrial real estate, commercial, construction and land development, residential real estate, agricultural and consumer loans.

See also

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Before you consider Enterprise Financial Services, you’ll want to hear this.

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New financial services regulations will require global action from councils Fri, 28 Oct 2022 15:13:20 +0000

According to a new paper from JWG, the London-based think tank that tracks and analyzes financial services regulation, new regulation will fundamentally change the landscape for the biggest tech companies, especially cloud providers.

“Managing Digital Infrastructure Risk: A Collaborative Path to Financial Services Safety,” is available online from JWG. His analysis, based on 287,897 pages of new rules in 2022 alone, is a wake-up call for companies that need to define “what good looks like” before massive fines start rolling in.

The company uses a natural language processor to browse the regulations. “We’ve modeled all the terms we know regulators talk about and we’re looking for topics we don’t understand and trying to get a sense of how it all fits together,” Di Giammarino said.

The new regulations will cover information and communications technology (ICT) risk management, third-party risk management strategy, scenario planning, operational resilience and technology governance. And, of course, the requirements will be somewhat different in the EU, UK and US, not to mention Asia.

It gets very complicated, said PJ Di Giammarino, CEO of JWG. “We already have a big divide between Asia, the United States and Europe. Europe is customer-centric and regulates to protect the individual. The United States protects the company and the right to do business with a bit of protection for the people too, and China is all about the rights of the state.

This could add a whole new level of complexity and cost, he added.

“To sum up the last 18 years of reg, it was all about who trades what. Now, what happens here is a whole other conversation – HOW? It’s everywhere today, little bits of reg that nibble HOW. Unless you do it from top to bottom, you will die from many, many paper cuts and fines.

Francis Gross, senior adviser at the European Central Bank, said the industry needed to act quickly. “We feel that industry and regulators will need to learn, quickly and together, what technology is for competition and what is best for collective action, beyond the silos of today,” he said, speaking on a personal basis.

Businesses in Europe will be asked to provide the European Central Bank with a comprehensive list of all outsourcing contracts comprising 32 data fields for each with an additional 19 data fields for those deemed critical or important, according to the report.

“This JWG study describes the transition our industry is experiencing as digital infrastructure risk management moves from the back office to the boardroom,” said Richard Harmon, vice president and chief Financial Services Global at Red Hat. “Now more than ever, the board will need to spend time understanding the interdependencies between business models, regulatory requirements, technology and the banks’ supply chain.”

Di Giammarino said financial services firms will need to move beyond their traditional way of operating in silos – regulatory requirements will require a holistic approach.

“It all gets very tribal. Even under risk, you have market risk and credit risk, and they might not pay attention to operational risk. And now you also have operational resilience. Most controls have been developed over time, much like how the IT infrastructure has developed. Companies are now facing a big internal management exercise regarding the controls we have and are they suitable for the new rules.

Although Chris Skinner of The Finanser, and author of several insightful books on digital finance, has often complained that corporate boards lack directors with strong tech savvy, Di Giammarino believes they are now firmly entrenched in the technology.

“Those guys on the board are pretty tech-savvy now,” he said. “If they’re under 40, they’ve grown up in a completely tech-based market. I think the question for the board isn’t so much whether the people there are savvy, but how that second line defense works together. Each organization may have different people involved. It may be the main administrative function which brings together finance, compliance and risk, or a bank may simply put them in risk or operations and technology. ”

The JWG recommends that a comprehensive risk management framework be developed based on current frameworks that are linked to regulations and standards. But it’s pretty clear from the JWG paper that the regulations being discussed will be broad and require a review of existing cloud services. For example, EU companies may need to show how to remove ICT services from an existing supplier and transfer them to another supplier or integrate them in-house. Regulators will get a single picture of supply chain interdependencies and be able to identify concentration risks for the first time, the report says.

Regulators will also look at AI to see how infrastructure, data and applications are managed.

“While the EU has the most obligations and therefore seems to be leading the charge, the UK remains close behind and collaboration with the US is very likely… Unfortunately, we find that there is no There aren’t many connections between the many risky communities that should unite behind these initiatives.The tribes of compliance, operational risk, data and technology often seem to work in silos and although some best practices have seen the Today, there is no global or unified approach to holistic controls.Overall, this is a very complex, frustrating and costly recipe for the next 3 years.

Companies that operate in multiple jurisdictions, as most large FIs do, must navigate their way through overlapping regulatory regimes.

“For example, how does a US financial institution certify that its credit application, hosted in the UK, is serving Italian customers with an AI that meets the requirements of EU AI law, including the design , data, tests and controls that need to be registered with EU authorities??

The sector has a short window to create a harmonized set of controls, the report warns.

“Implementation efforts are fragmented and require redundant mapping efforts. A heavy administrative burden could increase the cost of technology and stifle innovation.

Strategic marketing professional Robin Liebowitz joins Tue, 25 Oct 2022 15:51:16 +0000

NEW YORK, NY, Oct. 25, 2022 (GLOBE NEWSWIRE) — Robin Liebowitz, a strategic business and marketing executive, will now leverage her expertise in launching and growing businesses in highly complex industries and markets as Fractional CMO for the Chief Outsiders. Recently, Liebowitz joined the Chief Outsiders team of more than 120 Fractional Chief Marketing Officers (CMOs).

As a fractional marketing manager, Liebowitz places a strong emphasis on applying analytics to inform decision-making and measure results. She develops tailored strategies to position companies, products and solutions, generate demand and achieve targeted revenue growth. His experience in international expansion and M&A integration has also been leveraged many times by companies seeking to expand their global footprint and rapidly scale their businesses. Leveraging her extensive executive marketing experience with technology, financial services and professional services companies, she assesses critical marketing needs and resources, navigates complex environments, builds relationships and mobilizes teams to produce positive and lasting results.

Stellar Marketing Achievement

At Chief Outsiders, Liebowitz works with CEOs and business leaders to accelerate sales growth and develop new revenue streams. For example, prior to joining Chief Outsiders, as a financial services marketing manager for a cloud services company, she partnered with the sales team to drive double-digit year-over-year revenue growth and positioned the organization as a leading technology provider in financial services. As CMO for a blockchain company, she generated a multi-million dollar opportunity pipeline by building the company’s marketing function and crafting its first global marketing plan.

Liebowitz has also designed winning marketing programs for leading strategy consulting firm, EY. As Head of Financial Services Technology and Innovation Marketing for EY, she led brand marketing, go-to-market and thought leadership initiatives to support launch and scale. of their new financial services technology business covering artificial intelligence, machine learning, blockchain, cyber and fintech solutions.

“Robin brings incredible industry expertise to accelerate the growth of our technology, financial services and professional services clients,” said Deborah Fell, Managing Partner, Chief Outsiders. “It innovates and partners with the entire organization to deliver long-term revenue growth.”

Liebowitz’s marketing experience includes previous positions as Group VP, Communications at Marsh & McLennan Companies, Global Head of Marketing for Oliver Wyman and Senior Vice President Marketing & Business Development at Zurich Insurance Company. She earned an MBA in International Business and International Marketing and a BBA in Marketing from George Washington University in Washington, DC.

About the Chief Outsiders

Chief Outsiders is the leading fractional CMO firm that helps CEOs accelerate growth through the development and disciplined execution of well-designed growth plans. The company has more than 120 part-time and split-time chief marketing officers (CMOs) from coast to coast. Unlike traditional marketing and management consulting firms, each CMO has served as VP Marketing or above in one or more operating companies, including many Fortune 500 companies. Chief Outsiders CMOs have served as part of the leadership team of over 1,500 enterprise clients, driving growth strategy and execution plans by providing instant access to talent with highly personalized and flexible engagements.

Due to its market-based growth plans, quality of leadership and experienced team, Chief Outsiders has been recognized for the past nine years by Inc. Magazine as one of the 5,000 Private Companies to fastest growing in the United States, and was recognized in 2019 as a small giant Forbes. Chief Outsiders CEO Art Saxby and Principal Pete Hayes are co-authors of “The Growth Gears: Using a Market-Based Framework to Drive Business Success,” an Amazon bestseller for business owners and CEOs. For more information on companies that trust Chief Outsiders as their primary source for accelerating business growth, click here.

  • Robin Liebowitz, CMO, Chief Outsiders