Financial Services – Sznurki http://www.sznurki.net/ Fri, 10 Jun 2022 09:11:54 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://www.sznurki.net/wp-content/uploads/2021/04/sznurki-icon-150x150.png Financial Services – Sznurki http://www.sznurki.net/ 32 32 Provident Financial Services, Inc. (NYSE:PFS) Expected to Post Quarterly Sales of $118.40 Million https://www.sznurki.net/provident-financial-services-inc-nysepfs-expected-to-post-quarterly-sales-of-118-40-million/ Fri, 10 Jun 2022 09:11:54 +0000 https://www.sznurki.net/provident-financial-services-inc-nysepfs-expected-to-post-quarterly-sales-of-118-40-million/

Stock analysts expect Provident Financial Services, Inc. (NYSE:PFS – Get Rating) to post sales of $118.40 million for the current quarter, according to Zacks Investment Research. Three analysts made earnings estimates for Provident Financial Services. The lowest sales estimate is $117.00 million and the highest is $120.50 million. Provident Financial Services reported sales of $112.06 million in the same quarter last year, indicating a positive year-over-year growth rate of 5.7%. The company is due to release its next quarterly earnings report on Monday, January 1.

On average, analysts expect Provident Financial Services to report annual revenue of $479.03 million for the current year, with estimates ranging from $474.50 to $485.10 million. . For next year, analysts expect the company to post sales of $520.30 million, with estimates ranging from $512.30 to $527.90 million. Zacks Investment Research sales calculations are an average average based on a survey of research firms that track Provident Financial Services.

Provident Financial Services (NYSE:PFS – Get Rating) last released its results on Friday, April 29. The savings and loan company reported earnings per share of $0.58 for the quarter, beating the consensus estimate of $0.47 by $0.11. Provident Financial Services achieved a return on equity of 9.79% and a net margin of 33.46%. The company posted revenue of $114.67 million in the quarter, versus a consensus estimate of $115.10 million. During the same period of the previous year, the company achieved EPS of $0.63.

Separately, StockNews.com began covering Provident Financials in a Thursday, March 31 report. They issued a “hold” rating for the company.

In other news from Provident Financial Services, CEO George Lista sold 3,000 shares of the company in a trade that took place on Tuesday, May 17. The stock was sold at an average price of $22.15, for a total transaction of $66,450.00. Following the completion of the sale, the CEO now directly owns 103,873 shares of the company, valued at approximately $2,300,786.95. The transaction was disclosed in a document filed with the SEC, accessible via this hyperlink. 4.26% of the shares are held by company insiders.

Institutional investors and hedge funds have recently bought and sold shares of the company. Advisor Group Holdings Inc. increased its stake in Provident Financial Services by 35.7% during the 1st quarter. Advisor Group Holdings Inc. now owns 1,785 shares of the savings and loan company valued at $42,000 after acquiring 470 additional shares in the last quarter. KBC Group NV increased its position in Provident Financial Services by 97.3% during the 1st quarter. KBC Group NV now owns 7,597 shares in the savings and loan company worth $178,000 after purchasing an additional 3,746 shares during the period. Profund Advisors LLC acquired a new position in Provident Financial Services during Q1 worth approximately $201,000. Midwest Professional Planners LTD. acquired a new position in Provident Financial Services during Q1 worth approximately $202,000. Finally, Aigen Investment Management LP acquired a new position in Provident Financial Services during Q1 worth approximately $216,000. 63.82% of the shares are held by hedge funds and other institutional investors.

Shares of Provident Financial Services opened at $22.23 on Friday. Provident Financial Services has a fifty-two week minimum of $20.86 and a fifty-two week maximum of $26.20. The company has a debt ratio of 0.28, a quick ratio of 0.89 and a current ratio of 0.89. The company has a market capitalization of $1.68 billion, a P/E ratio of 10.39 and a beta of 0.91. The stock has a 50-day simple moving average of $22.46 and a 200-day simple moving average of $23.50.

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 27. Shareholders of record on Friday, May 13 received a dividend of $0.24 per share. This represents an annualized dividend of $0.96 and a yield of 4.32%. The ex-dividend date was Thursday, May 12. Provident Financial Services’ dividend payout ratio is currently 44.86%.

Provident financial services company profile (Get a rating)

Provident Financial Services, Inc. operates as a bank holding company for Provident Bank which provides various personal, family and business banking products and services in the United States. The Company’s deposit products include savings, checks, interest-bearing checks, money market deposits and certificates of deposit accounts, as well as IRA products.

See also

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Historical and Earnings Estimates for Provident Financial Services (NYSE:PFS)

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Should you invest $1,000 in Provident Financial Services right now?

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]]> Should you add Harel Insurance Investments & Financial Services (TLV:HARL) to your watchlist today? https://www.sznurki.net/should-you-add-harel-insurance-investments-financial-services-tlvharl-to-your-watchlist-today/ Wed, 08 Jun 2022 09:28:58 +0000 https://www.sznurki.net/should-you-add-harel-insurance-investments-financial-services-tlvharl-to-your-watchlist-today/

Like a puppy chasing its tail, some new investors are often looking for “the next big thing,” even if that means buying “history stocks” with no revenue, let alone profit. Unfortunately, high-risk investments are often unlikely to ever return, and many investors pay a price to learn their lesson.

In the era of blue-sky tech-stock investments, my choice may seem old-fashioned; I always prefer profitable companies like Harel Insurance Investments & Financial Services (TLV: HARL). While that doesn’t make stocks worth buying at any price, you can’t deny that successful capitalism ultimately requires profits. Loss-making businesses are always in a race against time to achieve financial viability, but time is often the friend of a profitable business, especially if it is growing.

Check out our latest analysis for Harel Insurance Investments & Financial Services

Earnings per share of Harel Insurance Investments & Financial Services are growing.

The market is a short-term voting machine, but a long-term weighing machine, so stock price eventually follows earnings per share (EPS). This makes EPS growth an attractive quality for any business. Impressively, Harel Insurance Investments & Financial Services has grown EPS by 27% pa, compounded, over the past three years. If the company can sustain this type of growth, we expect shareholders to come out on top.

A careful look at revenue growth and earnings before interest and tax (EBIT) margins can help inform a view on the sustainability of recent earnings growth. I note that the income of Harel Insurance Investments & Financial Services operations was lower than its turnover over the last twelve months, which could distort my analysis of its margins. Harel Insurance Investments & Financial Services’ EBIT margins actually improved by 2.2 percentage points over the past year to 8.3%, but, on the other hand, revenues were down 13 %. It’s far from ideal.

In the table below, you can see how the company has increased its profits and revenue over time. Click on the table to see the exact numbers.

TASE:HARL Earnings & Revenue History June 8, 2022

While it’s always good to see growing profits, you should always remember that a weak balance sheet could come back strong. So check the strength of Harel Insurance Investments & Financial Services’ balance sheet, before you get too excited.

Are Harel Insurance Investments & Financial Services insiders aligned with all shareholders?

I always like to check CEO compensation, because I think reasonable compensation levels around or below the median can be a sign that shareholder interests are well taken care of. For companies with a market capitalization between ₪3.3 billion and ₪11 billion, such as Harel Insurance Investments & Financial Services, the median CEO salary is around ₪3.9 million.

The CEO of Harel Insurance Investments & Financial Services received £3.5million in compensation for the year that ended. That seems pretty reasonable, especially given that it’s below the median for companies of a similar size. CEO pay levels aren’t the most important metric for investors, but when pay is modest, it promotes better alignment between the CEO and ordinary shareholders. It can also be a sign of a culture of integrity, broadly defined.

Is Harel Insurance Investments & Financial Services Worth Watching?

You can’t deny that Harel Insurance Investments & Financial Services has grown its earnings per share at a very impressive rate. It’s attractive. The rapid growth bodes well while the CEO’s very reasonable salary aids build trust in the board. So I’d say it’s the kind of stock worth watching, even if it doesn’t have much value today. You should always take note of the risks, for example – Harel Insurance Investments & Financial Services has 1 warning sign we think you should know.

Of course, you can (sometimes) buy stocks that are not increased income and not have insiders buying stocks. But as a growth investor, I always like to check out companies that do have these characteristics. You can access a free list of them here.

Please note that insider trading discussed in this article refers to reportable trading in the relevant jurisdiction.

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.

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GTCO’s HabariPay gets final approval from CBN to offer financial services https://www.sznurki.net/gtcos-habaripay-gets-final-approval-from-cbn-to-offer-financial-services/ Sat, 04 Jun 2022 11:57:58 +0000 https://www.sznurki.net/gtcos-habaripay-gets-final-approval-from-cbn-to-offer-financial-services/

A few days after launching its fintech unit called SquadCo, Guaranty Trust Holding Company (GTCO), obtained final approval from the Central Bank of Nigeria (CBN) for its payment unit HabariPay Limited.

The bank, which recently transitioned through a holding company, is focusing on fintech to tap into Nigeria’s underserved market. HabariPay’s endorsement by the CBN means that one of the largest financial institutions in the country is partnering with fintech players to deepen financial inclusion in the country.

HabariPay offers a range of financial services complemented by other GTCO units. This is seen as a major boost to reduce the significant number of approximately 40 million unbanked and underserved people in Nigeria, which gives GTCO branches scattered across the country.

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“Payments is at the heart of the development of financial services globally and represents a key growth area for the group,” said CEO Segun Agbaje.

“With HabariPay, we have succeeded in creating another path towards improving the service experience for our customers and creating more value for our stakeholders.”

Nigeria is experiencing a boom in the emerging fintech market that is increasingly attracting billions of dollars in investment. As the boom threatens traditional financial institutions, banks are jumping on the fintech bandwagon. Besides GTCO, Access Bank is another traditional institution in Nigeria that has become a holding company as Sterling Bank is following the same path.

GTCO’s determination to diversify its financial operations is also evident in its recent takeover of Investment One Funds Management Limited and Investment One Pension Managers Limited in February. However, the company’s focus remains on fintech.

“Our vision is an Africa where every payment is digital, and we hope to achieve this by increasingly leveraging technology to improve access to financial services for individuals and empower businesses across Africa with the right tools. to thrive,” said Agbaje.

Is Nigeria’s Digital Payments Space Saturated?

Despite the financial inclusion gap, there are fears that there are too many digital payment companies in Nigeria. Recently, major telecommunications companies in Nigeria, Airtel and MTN, were granted licenses to operate payment service banks (PSBs), a development seen as the ultimate boost to the push for financial inclusion.

Telecom operators’ dive into financial services adds to the hundreds of fintech startups in Nigeria, led by Flutterwave, that are trying to solve the same problem.

However, compared to countries where there is financial inclusion, the digital payment market in Nigeria is still untapped considering its population. For example, in the US there are 8,775 fintech startups serving its 334.6 million people while the UK has 1,600 fintech startups serving its 68.5 million people. India, a country with a financial inclusion deficit similar to Nigeria, has 6,636 fintech startups for its 1.4 billion people. Similarly, Brazil has 1,446 fintech startups for its 215 million inhabitants.

Nigeria is said to have around 200 fintech startups, serving its more than 200 million people. That leaves about a million people serving a fintech, which means Nigeria needs over a thousand fintech startups to fill the gap.

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Stone Accelerates Growth, Returns to Profitability and Records Record Revenue of BRL 2.07 Billion in 1Q22, up 138.6% Year-on-Year https://www.sznurki.net/stone-accelerates-growth-returns-to-profitability-and-records-record-revenue-of-brl-2-07-billion-in-1q22-up-138-6-year-on-year/ Thu, 02 Jun 2022 22:01:00 +0000 https://www.sznurki.net/stone-accelerates-growth-returns-to-profitability-and-records-record-revenue-of-brl-2-07-billion-in-1q22-up-138-6-year-on-year/

Company beats forecast with pre-tax profit 16% higher than forecast and 10 times higher than the previous quarter

SAO PAULO, June 2, 2022 /PRNewswire/ — StoneCo Ltd (Nasdaq: STNE) total revenue reached R$2.07 billion in the first quarter of 2022, an increase of 138.6% compared to the same period in 2021. The figures exceeded BRL1.85 at R$1.90 billion forecast due to a 107.8% increase in Financial Services revenue to R$1.7 billion over the period, and 955.6% increase in software to R$326.6 million in this neighbourhood.

Adjusted EBT (earnings before tax) went from R$17.2 million in the fourth quarter for R$163.1 million in the first quarter of 2022. The positive performance results from the combination of a strong increase in total revenue, despite seasonality, and effective control of costs and expenses. Adjusted net earnings for the first quarter were R$132.2 millionfour times greater than R$33.7 million announced in the previous quarter.

“Pricing initiatives have gained momentum and we have improved the quality of our customer base. We are in an inflection period for the business, with significant improvement in profitability,” says Stone’s CEO, Thiago Piau.

The company released results for its Financial Services and Software businesses separately. “This separation is in line with our business strategy and provides more clarity and transparency on our performance in each segment,” he adds.

Stone saw a 63.1% increase in total payment volume (TPV) in the first quarter, to R$83.2 billion, with a focus on micro, small and medium-sized enterprises (MSMEs), which grew 93.3% in the first quarter due to an increase in the customer base, reaching 1.9 million users in the first quarter. T122, and an average increase in POS per customer. The participation rate increased from 1.71% to 2.06% during the quarter.

Stone projects total revenue of R$2.15 billion at R$2.2 billion in Q222, with a growth of 148% to 154% compared to Q221 (pro-forma for Linx). The estimate is that the POS for MSMEs will be BRL 67 billion for R$68 billion in Q222, up 71% to 73% year-on-year, and pre-tax profit growth of R$163 million of EBT adjusted to R$185 million before financial charges on bonds or R$82 million to end 90 million BRL.

To continue to evolve the company, improve its governance and achieve higher levels of efficiency, Stone announces the arrival of new professionals. Marcus Fontoura takes over as Chief Technology Officer (CTO), after stints at Microsoft, Google, Yahoo and IBM. Thomas Gregoirecurrently on garden leave, has more than 30 years of experience in financial services as risk director for small and medium enterprises at Santander Brasil, will be responsible for credit in the second half. Osmar Castellani takes over as vice president of finance for the software division. He has extensive experience in investment banking, with stints at Goldman Sachs and Credit Suisse.

SOURCEStoneCo.

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PennyMac Financial Services, Inc. (NYSE: PFSI) Director Joseph F. Mazzella sells 13,000 shares https://www.sznurki.net/pennymac-financial-services-inc-nyse-pfsi-director-joseph-f-mazzella-sells-13000-shares/ Wed, 01 Jun 2022 01:15:26 +0000 https://www.sznurki.net/pennymac-financial-services-inc-nyse-pfsi-director-joseph-f-mazzella-sells-13000-shares/

PennyMac Financial Services, Inc. (NYSE: PFSI – Get Rating) Director Joseph F. Mazzella sold 13,000 shares of PennyMac Financial Services in a trade that took place on Thursday, May 26. The stock was sold at an average price of $50.12, for a total transaction of $651,560.00. Following the sale, the administrator now owns 351,331 shares of the company, valued at $17,608,709.72. The transaction was disclosed in a filing with the SEC, which is available on the SEC’s website.

Shares of NYSE:PFSI traded down $1.25 during midday trading on Tuesday, hitting $49.02. The company had a trading volume of 473,284 shares, compared to an average volume of 681,929. The company has a fifty-day moving average price of $49.34 and a 200-day moving average price of $58.54 . The company has a market capitalization of $2.72 billion, a PE ratio of 3.93 and a beta of 1.21. The company has a debt ratio of 1.63, a current ratio of 0.31 and a quick ratio of 0.31. PennyMac Financial Services, Inc. has a one-year low of $44.25 and a one-year high of $71.52.

PennyMac Financial Services (NYSE:PFSI – Get Rating) last released quarterly earnings data on Thursday, May 5. The real estate investment trust reported earnings per share of $2.94 for the quarter, beating the consensus estimate of $2.88 by $0.06. PennyMac Financial Services posted a net margin of 27.78% and a return on equity of 25.12%. The company posted revenue of $657.50 million in the quarter, compared to analyst estimates of $622.14 million. In the same quarter a year earlier, the company posted EPS of $5.15. PennyMac Financial Services revenue for the quarter decreased 30.4% from the same quarter last year. Research analysts expect PennyMac Financial Services, Inc. to post earnings per share of 8.68 for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, May 27. Investors of record on Tuesday, May 17 received a dividend of $0.20. This represents an annualized dividend of $0.80 and a yield of 1.63%. The ex-dividend date was Monday, May 16. PennyMac Financial Services’ payout ratio is currently 6.42%.

PFSI has been the subject of several analyst reports. Credit Suisse Group lowered its price target on PennyMac Financial Services shares to $66.00 and set a “neutral” rating for the company in a Thursday, May 19 report. Barclays lowered its price target on PennyMac Financial Services shares from $103.00 to $90.00 in a Monday, May 9 report. Piper Sandler lowered her price target on PennyMac Financial Services shares from $117.00 to $98.00 and set an “overweight” rating for the company in a Tuesday, April 5 report. BTIG Research launched coverage on PennyMac Financial Services shares in a report on Wednesday, April 20. They set a “buy” rating and a price target of $60.00 for the company. Finally, StockNews.com upgraded PennyMac Financial Services shares from a “sell” rating to a “hold” rating in a Thursday, May 19 report. One financial analyst gave the stock a sell rating, two gave the stock a hold rating and five gave the stock a buy rating. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $77.29.

A number of hedge funds and other institutional investors have been buying and selling stocks recently. Neuberger Berman Group LLC increased its position in PennyMac Financial Services by 13.7% in Q1. Neuberger Berman Group LLC now owns 3,914 shares of the real estate investment trust valued at $208,000 after purchasing an additional 472 shares during the period. Advisors Asset Management Inc. bought a new position in PennyMac Financial Services during Q1 worth $168,000. Quantbot Technologies LP bought a new position in PennyMac Financial Services during Q1 worth $281,000. Goldman Sachs Group Inc. increased its holdings of PennyMac Financial Services shares by 322.3% in Q1. Goldman Sachs Group Inc. now owns 706,965 shares of the real estate investment trust worth $37,610,000 after buying an additional 539,539 shares in the last quarter. Finally, Graham Capital Management LP increased its stake in shares of PennyMac Financial Services by 157.2% in the 1st quarter. Graham Capital Management LP now owns 13,004 shares of the real estate investment trust worth $691,000 after buying 7,948 additional shares in the last quarter. 62.61% of the shares are held by institutional investors and hedge funds.

About PennyMac Financial Services (Get an evaluation)

PennyMac Financial Services, Inc, through its subsidiaries, is engaged in the mortgage banking and investment management business in the United States. It operates through three segments: production, maintenance and investment management. The Production segment is involved in the origination, acquisition and sale of loans.

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$5.13 billion in sales expected for The PNC Financial Services Group, Inc. (NYSE:PNC) this quarter https://www.sznurki.net/5-13-billion-in-sales-expected-for-the-pnc-financial-services-group-inc-nysepnc-this-quarter/ Mon, 30 May 2022 10:45:03 +0000 https://www.sznurki.net/5-13-billion-in-sales-expected-for-the-pnc-financial-services-group-inc-nysepnc-this-quarter/

Equity analysts expect The PNC Financial Services Group, Inc. (NYSE: PNC – Get Rating) to report revenue of $5.13 billion for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have released earnings estimates for The PNC Financial Services Group, with the lowest sales estimate of $4.99 billion and the highest estimate of $5.31 billion. Financial services group PNC reported sales of $4.67 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 9.9%. The company is expected to release its next earnings report before the market opens on Monday, January 1.

On average, analysts expect PNC Financial Services Group to post revenue of $20.73 billion in the current fiscal year, with estimates ranging from $20.13 billion to $20.96 billion. dollars. For next year, analysts expect the company to post sales of $22.69 billion, with estimates ranging from $22.09 billion to $23.45 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover the PNC financial services group.

PNC Financial Services Group (NYSE:PNC – Get Rating) last announced its results on Thursday, April 14. The financial services provider reported earnings per share of $3.29 for the quarter, beating analyst consensus estimates of $2.78 by $0.51. The company posted revenue of $4.69 billion for the quarter, versus a consensus estimate of $4.72 billion. The PNC Financial Services group achieved a net margin of 26.14% and a return on equity of 12.43%. PNC Financial Services Group quarterly revenue increased 11.2% year-over-year. During the same period last year, the firm posted earnings per share of $4.10.

A number of brokerages have commented on PNC. Raymond James cut his price target on PNC Financial Services Group shares from $215.00 to $210.00 and set an “outperform” rating on the stock in a Monday, April 18 research report. StockNews.com began covering PNC Financial Services Group stocks in a research report on Thursday, March 31. They have placed a “holding” rating on the stock. JPMorgan Chase & Co. raised its price target on PNC Financial Services Group shares from $229.50 to $232.50 in a Thursday, Feb. 3 research report. Wolfe Research cut its price target on PNC Financial Services Group shares from $223.00 to $177.00 and set an “outperform” rating on the stock in a research report Thursday. Finally, Piper Sandler cut her price target on PNC Financial Services Group shares from $215.00 to $201.00 and set a “neutral” rating on the stock in a research report on Friday, April 1. One research analyst rated the stock with a sell rating, ten assigned a hold rating, and seven assigned the company a buy rating. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $215.67.

Shares of PNC opened at $175.05 on Monday. PNC Financial Services Group has a 1-year low of $152.35 and a 1-year high of $228.14. The company has a debt ratio of 0.54, a current ratio of 0.75 and a quick ratio of 0.74. The company’s 50-day simple moving average is $174.56 and its 200-day simple moving average is $192.83. The company has a market capitalization of $72.40 billion, a P/E ratio of 14.81, a P/E/G ratio of 2.44 and a beta of 1.24.

The company also recently declared a quarterly dividend, which was paid on Thursday, May 5. Investors of record on Wednesday, April 13 received a dividend of $1.50. The ex-dividend date was Tuesday, April 12. This represents an annualized dividend of $6.00 and a yield of 3.43%. This is a boost from PNC Financial Services Group’s previous quarterly dividend of $1.25. The payout ratio of PNC Financial Services Group is 50.76%.

In other news from The PNC Financial Services Group, Guild Executive Vice President Deborah sold 1,257 shares of the company in a trade on Tuesday, May 3. The stock was sold at an average price of $170.56, for a total transaction of $214,393.92. Following the completion of the transaction, the executive vice president now owns 23,360 shares of the company, valued at $3,984,281.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, accessible via this link. Additionally, director Robert A. Niblock acquired 2,000 shares in a trade on Friday, May 6. The shares were purchased at an average cost of $167.07 per share, with a total value of $334,140.00. As a result of the transaction, the administrator now directly owns 6,063 shares of the company, valued at approximately $1,012,945.41. Disclosure of this purchase can be found here. Insiders own 0.34% of the shares of the company.

A number of institutional investors have recently changed their positions in the company. Quantinno Capital Management LP increased its position in The PNC Financial Services Group by 3.0% during the third quarter. Quantinno Capital Management LP now owns 1,686 shares of the financial services provider valued at $330,000 after purchasing 49 additional shares during the period. Meiji Yasuda Asset Management Co Ltd. increased its position in PNC Financial Services Group shares by 0.4% in the third quarter. Meiji Yasuda Asset Management Co Ltd. now owns 12,197 shares of the financial services provider worth $2,386,000 after buying 51 additional shares in the last quarter. Gradient Investments LLC increased its position in shares of The PNC Financial Services Group by 12.0% in the fourth quarter. Gradient Investments LLC now owns 476 shares of the financial services provider worth $95,000 after buying 51 additional shares in the last quarter. Manchester Capital Management LLC raised its position in shares of The PNC Financial Services Group by 1.5% in the fourth quarter. Manchester Capital Management LLC now owns 3,652 shares of the financial services provider worth $732,000 after buying 53 additional shares in the last quarter. Finally, Cetera Investment Advisers raised its position in shares of The PNC Financial Services Group by 0.4% in the 4th quarter. Cetera Investment Advisers now owns 14,417 shares of the financial services provider worth $2,891,000 after buying 53 additional shares in the last quarter. 83.54% of the shares are held by institutional investors and hedge funds.

PNC Financial Services Group Company Profile (Get a rating)

The PNC Financial Services Group, Inc. operates as a diversified financial services company in the United States. The Company’s Retail Banking segment offers brokerage, insurance, investment and cash management services; checking, savings and money market accounts; certificates of deposit; and lending products, which include residential mortgages, home equity loans and lines of credit, auto loans, education loans and personal and small business loans, as well as consumer credit cards and to small businesses through a network of branches, ATMs, call centers, and online and mobile banking channels.

Further reading

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Earnings history and estimates for PNC Financial Services Group (NYSE:PNC)



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$3.14 billion in sales expected for Discover Financial Services (NYSE:DFS) this quarter https://www.sznurki.net/3-14-billion-in-sales-expected-for-discover-financial-services-nysedfs-this-quarter/ Sat, 28 May 2022 07:12:53 +0000 https://www.sznurki.net/3-14-billion-in-sales-expected-for-discover-financial-services-nysedfs-this-quarter/

Analysts expect Discover Financial Services (NYSE:DFS) to post $3.14 billion in revenue for the current fiscal quarter, according to Zacks Investment Research. Nineteen analysts released earnings estimates for Discover Financial Services, with the highest sales estimate at $3.19 billion and the lowest estimate at $3.06 billion. Discover Financial Services posted sales of $3.58 billion in the same quarter last year, suggesting a negative 12.3% year-over-year growth rate. The company is due to announce its next results on Monday, January 1.

According to Zacks, analysts expect Discover Financial Services to report annual sales of $12.60 billion in the current fiscal year, with estimates ranging from $12.27 billion to $12.96 billion. . For next year, analysts expect the company to post sales of $13.60 billion, with estimates ranging from $13.03 billion to $14.00 billion. Zacks Investment Research sales averages are an average average based on a survey of sell-side research analysts who follow Discover Financial Services.

Discover Financial Services (NYSE:DFS – Get Rating) last reported quarterly earnings data on Wednesday, April 27. The financial services provider reported earnings per share of $4.22 for the quarter, beating analyst consensus estimates of $3.58 by $0.64. The company posted revenue of $2.90 billion in the quarter, versus a consensus estimate of $2.99 ​​billion. Discover Financial Services posted a net margin of 38.42% and a return on equity of 41.57%. The company’s revenue for the quarter increased by 3.8% compared to the same quarter last year. In the same quarter of the previous year, the company achieved EPS of $5.04.

Several research analysts have recently commented on DFS shares. Wells Fargo & Company lowered its price target on shares of Discover Financial Services from $135.00 to $127.00 and set an “equal weight” rating on the stock in a Wednesday, April 6 research note . Citigroup raised its price target on shares of Discover Financial Services from $154.00 to $157.00 in a Friday, April 29 report. Morgan Stanley lowered its price target on shares of Discover Financial Services from $144.00 to $127.00 and set an “equal weight” rating for the company in a Monday, March 28 research report. Deutsche Bank Aktiengesellschaft raised its price target on shares of Discover Financial Services from $145.00 to $150.00 in a Friday, April 29 research report. Finally, StockNews.com began covering Discover Financial Services stocks in a research report on Thursday, March 31. They issued a “hold” rating on the stock. Six investment analysts gave the stock a hold rating and thirteen gave the company a buy rating. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $138.76.

Several institutional investors have recently changed their positions in DFS. Walleye Capital LLC bought a new position in Discover Financial Services during Q1 worth $366,000. Kestra Private Wealth Services LLC increased its stake in Discover Financial Services by 3.5% in the 1st quarter. Kestra Private Wealth Services LLC now owns 11,857 shares of the financial services provider valued at $1,306,000 after acquiring an additional 399 shares during the period. EverSource Wealth Advisors LLC increased its stake in Discover Financial Services by 49.0% in Q1. EverSource Wealth Advisors LLC now owns 3,154 shares of the financial services provider valued at $348,000 after acquiring an additional 1,037 shares during the period. M Holdings Securities Inc. bought a new position in Discover Financial Services during Q1 worth $381,000. Finally, Advisory Services Network LLC increased its stake in Discover Financial Services by 2.4% in the 1st quarter. Advisory Services Network LLC now owns 7,168 shares of the financial services provider valued at $789,000 after acquiring an additional 168 shares during the period. Hedge funds and other institutional investors hold 85.53% of the company’s shares.

NYSE:DFS shares opened at $112.20 on Friday. The company has a market capitalization of $31.52 billion, a PE ratio of 6.62, a growth price-earnings ratio of 0.24 and a beta of 1.45. The company has a debt ratio of 1.38, a quick ratio of 1.26 and a current ratio of 1.26. The company has a 50-day simple moving average of $110.83 and a 200-day simple moving average of $114.92. Discover Financial Services has a 52-week low of $98.38 and a 52-week high of $135.69.

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 9. Shareholders of record on Thursday, May 26 will receive a dividend of $0.60. This is a boost from Discover Financial Services’ previous quarterly dividend of $0.50. The ex-date of this dividend is Wednesday, May 25. This represents a dividend of $2.40 on an annualized basis and a dividend yield of 2.14%. The payout ratio of Discover Financial Services is 14.16%.

About Explore Financial Services (Get a rating)

Discover Financial Services, through its subsidiaries, provides digital banking products and services and payment services in the United States. It operates in two segments, Digital Banking and Payment Services. The Digital Banking segment offers Discover-branded credit cards to individuals; private student loans, personal loans, home loans and other consumer loans; and direct-to-consumer deposit products including savings accounts, certificates of deposit, money market accounts, IRA certificates of deposit, IRA savings and checking accounts, and money transfer accounts.

Further reading

Get a Free Copy of Zacks Research Report on Discover Financial Services (DFS)

For more information on Zacks Investment Research’s research offerings, visit Zacks.com

Earnings history and estimates for Discover Financial Services (NYSE:DFS)

This instant alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]

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]]> Improved transparency in the mobility of cash withdrawals https://www.sznurki.net/improved-transparency-in-the-mobility-of-cash-withdrawals/ Thu, 26 May 2022 08:03:55 +0000 https://www.sznurki.net/improved-transparency-in-the-mobility-of-cash-withdrawals/

Into Money - Money Mobility - May 2022 - Find out how FIs can overcome barriers to enable fast and secure cash withdrawal mobility for customers

Financial service providers face many choices when determining the best way to provide customers with financial mobility, and the temptation to rely too heavily on in-house solutions can lead some to overlook the benefits of partnerships. Lack of familiarity with the work that comes after a solution has been developed and implemented may cause some to underestimate the value of working with an organization that has already walked this path and solved many of the difficulties encountered with it. maintenance and operation.Into Money - Money Mobility - May 2022 - Find out how FIs can overcome barriers to enable fast and secure cash withdrawal mobility for customers

Part of the struggle is ensuring that a cash-out mobility solution does more than just check all the latest digital bank boxes. A digital banking solution may appear to have everything you need on paper, but may not provide the optimal customer experience that will help retain and recruit consumers. While speed and convenience are important, security also looms large among consumers’ concerns when it comes to financial mobility. Fifty-two percent of consumers surveyed expressed concerns about the security of their online transactions, and 42% said their concerns had increased over the past year. As more consumers turn to online banking apps for their day-to-day banking needs, the desire for fast, secure, and low-friction cash-out mobility solutions will only grow.

In this month Money Mobility Tracker®PYMNTS examines how financial service providers should ensure their solutions provide the best security and superior customer experience.

Around the landscape of mobility by investment

Financial institutions (FIs) are under pressure to ensure their deposit solutions meet a wide variety of consumer needs in order to keep up with growing competition in the digital space. By the end of 2021, consumers could choose from over 10,000 FIs offering deposit accounts, and FIs are no longer limited to regions where they have a physical presence.

Into Money - Money Mobility - May 2022 - Find out how FIs can overcome barriers to enable fast and secure cash withdrawal mobility for customers

While a small number of large institutions still dominate the deposit account space, the proliferation of digital banking tools and platforms has opened up greater opportunities for smaller institutions to define themselves as viable alternatives.

While consumer monitoring of accounts and transactions remains one of the most important aspects of fraud detection, 44% of US consumers surveyed say they spend less than 10 hours a year checking their accounts for aren’t transactions they don’t recognize, and 25% spend less than an hour a year on this preventative task. At the same time, US consumers are among the most likely to be targeted by bad actors for fraud, and US consumers lose an average of $265 to fraudulent charges each year. Additionally, US consumers are the most frequent victims of debit card fraud worldwide and among the most frequent victims of credit card fraud, bank fraud, and digital payment fraud.

To learn more about these stories and other developments in monetary mobility, check out the News & Trends section of Tracker.

Regions focus on providing a smooth and secure mobility experience

Consumers and businesses want reliable, secure and user-friendly mobility experiences, and part of the offering comes from approaches that look at the whole experience rather than individual tasks.

In this month’s feature, Tim Mills, Senior Vice President of Emerging Payments Strategy at Regions Bank, discusses how Regions Bank strikes the balance between customer convenience and account security, as well as how they consider the broader user experience when looking for the most effective way to use digital banking technologies.

PYMNTS Intelligence: Importance of Funds Outflow Mobility is RisingInto Money - Money Mobility - May 2022 - Find out how FIs can overcome barriers to enable fast and secure cash withdrawal mobility for customers

Financial service providers must consider several concerns when deciding how to offer paid mobility that meets consumer needs and expectations. Their customers want to be able to make payments easily and with minimal friction, as well as ensure that payments arrive quickly and without unnecessary delays. At the same time, providers need to protect their account holders from fraudulent transactions, but need to do so without adding too much friction to payments to take away the benefits of having digital tools and access.

This month’s PYMNTS Intelligence looks at how financial service providers can balance mobility priorities to deliver the experience to their customers in an increasingly competitive space.

About Tracking

the Money Mobility Tracker®a PYMNTS and Ingo money collaboration, examines the latest trends and developments shaping the financial mobility space and the challenges faced by financial service providers in an increasingly competitive space.

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Merchants Capital Completes $214M Freddie Mac Q-Series Transaction https://www.sznurki.net/merchants-capital-completes-214m-freddie-mac-q-series-transaction/ Mon, 23 May 2022 17:02:00 +0000 https://www.sznurki.net/merchants-capital-completes-214m-freddie-mac-q-series-transaction/

CARMEL, Ind., May 23, 2022 /PRNewswire/ — (NASDAQ: MBIN) Leading financial services provider Merchants Capital (MCC), along with Merchants Bank of Indiana (MBI), announces today that it has completed a $214 million Commercial mortgage-backed securities (CMBS) securitization of 14 multi-family mortgages secured by 24 mortgaged properties in a Q-Series transaction sponsored by Freddie Mac.

This is the second such transaction for MCC; last year, MCC obtained a $262 million Q-Series transaction, which consisted of 15 workforce housing properties owned and operated by some of MCC’s largest clients. Unlike the previous transaction, 100% of the securities were guaranteed by Freddie Mac and sold on the market. MCC will continue to outsource pool loans.

the $214 million in loans consisted of 14 multi-family properties in Georgia, Indiana, Michigan, New York and Ohio. The developments vary in size from 60 to 352 units. On a weighted average basis, the portfolio had 93.7% units under 80% Regional Median Income (AMI), 52.1% units under 60% AMI and 26.8% units under 50% AMI . Several properties have been made possible by the Low Income Housing Tax Credits (LIHTC) and the US Department of Housing and Urban Development (HUD). The collateral pool is all adjustable rate mortgages (ARMs) capped at seven years, a new product for the platform.

Due to the characteristics of the underlying mortgages, the certificates are referred to as “Social Bonds” in the Social Bonds framework, published on the Freddie Mac website. Proceeds from social bonds are used to provide liquidity to social impact financial institutions (community development financial institutions, housing finance agencies and other financial institutions), such as MBI. These social impact financial institutions finance affordable housing for low-income communities and underserved populations in accordance with the social bond framework. Freddie Mac engaged Sustainalytics, Inc., a subsidiary of Morningstar, Inc., to independently assess the Social Bonds Framework. MCC has also created its own ESG Social Bond Framework for use in its future transactions, aligning with the four core components of Freddie Mac’s Social Bond Principles, and similarly assessed by Sustainalytics. Ongoing assessment is based on the use of revenue, project evaluation and selection, revenue management and reporting.

“It has been an honor to work alongside multi-family big bankers PNC and Freddie Mac on another incredibly critical project,” said Evan Gibson, Senior Vice President of Capital Markets at Merchants Capital. “Merchants Capital has a long history of finding new, innovative ways to proactively increase our lending capacity for significant properties across the country. We remain committed to our goal of providing housing as a right for all, and the Q-series transaction helps us get there.”

To learn more about Merchants Capital and its services, visit www.merchantscapital.com or find Merchants Capital on Facebook, TwitterLinkedIn and Instagram.

ABOUT BANCORP MERCHANTS
Recognized as America’s Top Performing Public Bank by S&P Global Market Intelligence, Merchants Bancorp is a diversified bank holding company headquartered in Carmel, Indiana operation of multiple lines of business, including financing and maintenance of multi-family housing and Federal Housing Administration (“FHA”) healthcare facilities; mortgage warehouse financing; retail and correspondent residential mortgage banking; agricultural loans; and the traditional community bank. Bancorp Merchants, with $9.7 billion in assets and $7.5 billion in deposits at March 31, 2022operates primarily through its direct and indirect subsidiaries, Merchants Bank of IndianaMerchants Capital Corp., Farmers-Merchants Bank of IllinoisMerchants Capital Servicing, LLC and Merchants Mortgage, a division of Merchants Bank of Indiana. For more information and financial data, please visit the Merchants’ Investor Relations page at investor.merchantsbancorp.com.

ABOUT TRADERS’ CAPITAL
Founded in 1990, Merchants Capital is one of the nation’s leading lenders for the refinancing, acquisition, new construction and substantial rehabilitation of multifamily, affordable, senior and student housing. Whether you’re considering tax credit syndication, Freddie Mac, Fannie Mae, HUD/FHA insured, or balance sheet financing, let our personalized services help you achieve your financing goals. Experience the creativity of a small lender, with all the capabilities of a large institution. To learn more about Merchants Capital, visit www.merchantscapital.com.

SOURCE Merchants Bancorp

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Zacks: Brokerages expect Orrstown Financial Services, Inc. (NASDAQ:ORRF) to report earnings per share of $0.70 https://www.sznurki.net/zacks-brokerages-expect-orrstown-financial-services-inc-nasdaqorrf-to-report-earnings-per-share-of-0-70/ Sat, 21 May 2022 06:23:31 +0000 https://www.sznurki.net/zacks-brokerages-expect-orrstown-financial-services-inc-nasdaqorrf-to-report-earnings-per-share-of-0-70/

Brokerages expect Orrstown Financial Services, Inc. (NASDAQ:ORRF – Get Rating) to post earnings per share (EPS) of $0.70 for the current quarter, according to Zacks Investment Research. Two analysts have made earnings estimates for Orrstown Financial Services. The lowest EPS estimate is $0.64 and the highest is $0.75. Orrstown Financial Services reported earnings of $0.79 per share in the same quarter last year, indicating a negative 11.4% year-over-year growth rate. The company is expected to release its next quarterly earnings report on Monday, January 1.

According to Zacks, analysts expect Orrstown Financial Services to report annual earnings of $2.71 per share for the current fiscal year, with EPS estimates ranging from $2.69 to $2.73. For the next fiscal year, analysts expect the company to post earnings of $2.52 per share, with EPS estimates ranging from $2.48 to $2.55. Zacks Investment Research’s earnings per share averages are an average average based on a survey of research firms that track Orrstown Financial Services.

Orrstown Financial Services (NASDAQ:ORRF – Get Rating) last released its quarterly results on Tuesday, April 19. The bank reported earnings per share of $0.76 for the quarter, beating the consensus estimate of $0.60 by $0.16. Orrstown Financial Services recorded a return on equity of 11.70% and a net margin of 25.31%.

Several analysts have recently released reports on ORRF shares. Zacks Investment Research upgraded shares of Orrstown Financial Services from a “sell” to a “hold” rating and set a price target of $26.00 for the company in a research note on Saturday, March 26 . Boenning Scattergood reissued an “outperform” rating on Orrstown Financial Services stock in a Wednesday, April 20 research note. Finally, StockNews.com picked up stock coverage from Orrstown Financial Services in a Thursday, March 31 research report. They set a “buy” rating for the company.

Shares of NASDAQ ORRF opened at $23.62 on Friday. Orrstown Financial Services has a 52-week low of $21.81 and a 52-week high of $25.91. The company has a fifty-day moving average of $23.35 and a 200-day moving average of $24.10. The stock has a market capitalization of $261.12 million, a PE ratio of 8.44 and a beta of 0.85. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt ratio of 0.13.

The company also recently declared a quarterly dividend, which was paid on Monday, May 9. Investors of record on Monday, May 2 received a dividend of $0.19 per share. The ex-dividend date was Friday, April 29. This represents a dividend of $0.76 on an annualized basis and a yield of 3.22%. Orrstown Financial Services’ dividend payout ratio (DPR) is 27.14%.

Separately, director Floyd E. Stoner acquired 2,464 shares of the company in a transaction on Tuesday, February 22. The shares were purchased at an average price of $24.66 per share, for a total transaction of $60,762.24. The purchase was disclosed in a legal filing with the SEC, which is available via this link. Insiders own 4.83% of the shares of the company.

A number of hedge funds have recently changed their ORRF holdings. Citigroup Inc. increased its stake in shares of Orrstown Financial Services by 144.6% in the third quarter. Citigroup Inc. now owns 1,267 shares of the bank valued at $30,000 after buying an additional 749 shares last quarter. Strs Ohio acquired a new stake in Orrstown Financial Services stock in Q4, valued at approximately $30,000. Metropolitan Life Insurance Co NY acquired a new stake in Orrstown Financial Services stock in Q3 valued at approximately $71,000. BNP Paribas Arbitrage SA increased its stake in Orrstown Financial Services by 82.2% during the third quarter. BNP Paribas Arbitrage SA now owns 3,126 shares in the bank worth $73,000 after acquiring an additional 1,410 shares during the period. Finally, MetLife Investment Management LLC increased its stake in Orrstown Financial Services by 57.0% during the first quarter. MetLife Investment Management LLC now owns 6,252 shares of the bank worth $143,000 after acquiring 2,270 additional shares during the period. Hedge funds and other institutional investors own 43.79% of the company’s shares.

About Orrstown Financial Services (Get a rating)

Orrstown Financial Services, Inc operates as a holding company for Orrstown Bank which provides commercial banking and trust services in the United States. The Company accepts a variety of deposits including checking, savings, term, demand and money market deposits. It also offers commercial loans, such as commercial real estate loans, equipment, buildings, working capital and other loans for commercial purposes, as well as industrial loans; consumer loans including home equity and other consumer loans, as well as home equity lines of credit; residential mortgage loans; acquisition and development loans; municipal loans; and installment and other loans.

See also

Get a Free Copy of Zacks Research Report on Orrstown Financial Services (ORRF)

For more information on Zacks Investment Research’s research offerings, visit Zacks.com

Earnings History and Estimates for Orrstown Financial Services (NASDAQ:ORRF)



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