Saving investment – Gran Logia Costa Rica http://granlogiacostarica.org/ Wed, 23 Nov 2022 15:41:23 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://granlogiacostarica.org/wp-content/uploads/2021/05/cropped-icon-1-32x32.png Saving investment – Gran Logia Costa Rica http://granlogiacostarica.org/ 32 32 Is the end of regulatory extortion near? https://granlogiacostarica.org/is-the-end-of-regulatory-extortion-near/ Wed, 23 Nov 2022 15:12:00 +0000 https://granlogiacostarica.org/is-the-end-of-regulatory-extortion-near/

In early November, the Consumer Financial Protection Bureau (“CFPB”), submitted a writ of certiorari to the United States Supreme Court. The agency is asking the High Court to overturn a ruling by the United States Court of Appeals for the Fifth Circuit, which ruled that the Bureau’s funding structure violates the appropriations clause of the Constitution.

“The CFPB is also asking the court to review the 5th Circuit’s decision to overturn the agency’s 2017 final rule covering ‘payday loans, vehicle title and certain high-cost installment loans’ from principle that it was enacted at a time when the Office was receiving unconstitutional funding,” Buckley LP notes in an analysis.

This isn’t the first time the CFPB’s unique structure, the brainchild of Sen. Elizabeth Warren (D-MA) and other progressives, has been challenged in court. The CFPB is perhaps the most aggressive progressive effort to use regulators to attack the private sector, ostensibly on behalf of consumers. But in this case, maybe Senator Warren went too far.

In 2020, the Supreme Court rejected Senator Warren’s efforts to insulate the CFPB from the executive branch. The court found that allowing the sole director of the CFPB to be removed for cause was a violation of the separation of powers. The court said the director of the CFPB must be an at-will employee of the president.

The issue of agency funding, however, is not as easy to resolve as the issue of accountability to the White House. If the court refuses to hear the case or rules against the CFPB outright, the agency may be effectively crippled and the legal enforceability of its orders and fines since its inception will be called into question.

“The Fifth Circuit has found that Congress improperly and unconstitutionally ceded control of the CFPB’s budget by allowing it to fund itself directly from the Federal Reserve,” notes Anthony DiResta and Luis Garcia at Holland and Knight. “This funding structure, the Fifth Circuit found, made the CFPB more accountable to Congress and the people.” Today, the CFPB is unable to enforce its orders within the Fifth Circuit.

Killing the CFPB is unlikely to bring many tears to the housing industry. Since its inception in 2010, the CFPB has terrorized the mortgage industry, often without any documented reason or proof of consumer harm. In 2017, for example, the CFPB sued Ocwen Financial after the company refused to pay an additional $1 billion fine demanded by then-director Richard Cordray for alleged errors in calculating escrow balances.

Ocwen finally won the lawsuit against the CFPB in 2021, a rare example of a mortgage company publicly fighting for its rights against this utterly irresponsible federal agency. Cordray left the CFPB later in 2017 for an unsuccessful run for governor of Ohio. The attack on Ocwen and its shareholders was completely unwarranted and prompted a backlash from Ginnie Mae and dozens of states, none of which had evidence of issuer error or consumer harm. . It took years for Ocwen to resolve the legal mess created by Cordray’s misguided and politically motivated accusations.

Since the creation of the CFPB, dozens of banks and building societies have been subject to endless fines or repressive actions that can only be qualified as regulatory blackmail. Although there is rarely evidence of actual issuer error or harm to consumers – all consumers – in CFPB actions, most mortgage companies are intimidated by regulations and silence, two troubling characteristics of the progressive inquisition.

And the CFPB is not the only federal agency guilty of such unfair treatment. In October 2021, the Office of the Comptroller of the Currency (OCC) released a consent order against Cenlar FSB of Ewing, NJ The order was approved by Acting Comptroller Michael J. Hsu, who has a penchant for issuing press releases. As in Ocwen, there was no consumer harm or even evidence of error on the part of the large residential repairer.

One industry CEO who isn’t keeping quiet is Bruce Rose, founder and CEO of distressed lender, manager and asset manager Carrington Mortgage. In a statement released this month after settle a dispute with the CFPBRose made it clear that the agency’s process was totally unfair and lacked basic accountability.

“In trying to help borrowers affected by the COVID-19 pandemic, Carrington acted in good faith and was focused on providing a benefit to consumers,” Rose said. “The settlement does not require additional consumer remedies, reflecting the lack of consumer harm in this case.”

Delinquency rate | 1-4s Total loans Conventional FHA Virginia belonging to the bank
2022 Q3 3.45% 2.52% 8.52% 3.71% N / A
2022 Q2 3.64% 2.64% 8.85% 4.22% 1.51%
2021 Q4 4.65% 3.58% 10.76% 5.24% 2.04%
2020 Q4 6.73% 5.09% 14.65% 7.29% 2.50%
2019 Q4 3.77% 2.82% 8.38% 3.64% 1.76%
2018 Q4 4.06% 3.19% 8.65% 3.71% 2.05%
2009 Q4 9.47% 6.73% 13.57% 7.41% 7.75%

Sources: MBA, FDIC

Rose added: “The CFPB’s use of extortion tactics as a primary regulatory tool does nothing to help the industry or the consumers. In the end, it is the consumers who end up paying more because of the additional regulatory costs imposed on loans and services.”

Given recent court rulings, the CFPB is not considered to have a great chance of success in its appeal. “A request for a hearing before the Supreme Court [is] perhaps the best of the worst CFPB options,” notes Ian Katz of Capital Alpha Partners.

Yet leaving aside the structure of CFPB funding, a greater threat approaches all of the federal consumer agencies of the CFPB created by Dodd-Frank dating back a century to the New Deal.

“In 1984, the Supreme Court ruled, in Chevron c. Natural Resources Defense Councilthat when the language of laws enacted by Congress is ambiguous, federal agencies have the right to interpret it as they see fit, as long as their interpretations are not unreasonable,” Harvard professor Cass Sunstein writes in the New York Book Review.

In the forty years since the court’s decision, conservatives have come to hate the Chevron decision, arguing that federal agencies like the CFPB have become entirely politicized. Conservatives hope the court will soon roll back the administrative state.

The first signs of this seismic movement appeared during the COVID lockdown, when the Supreme Court struck down an OSHA vaccination mandate and then struck down the CDC’s mask mandate. In both cases, the court did not even mention Chevronsuggesting to some observers that the doctrine may already be dead.

“If the modern administrative state is a constitutional disgrace, the Chevron Doctrine, which increases agency power, begins to seem impossible to defend,” Sunstein writes. “Among conservatives on the Supreme Court today, there’s a lot of anti-Chevron sentiment. Justice Clarence Thomas, who once applied Chevron with zest, now believes it’s inconsistent with the Constitution.”

As the mortgage community enters the holiday season for the end of 2022, they can take comfort in the fact that a decade of regulatory abuse and intimidation by the CFPB may soon be coming to an end. Republican control of the House of Representatives means the CFPB could be sidelined for years.

But the big hope for 2023 and beyond lies in the possibility that the Supreme Court will eventually overrule the Chevron doctrine. This would require Congress to legislate specifically on every major action taken by federal regulators.

In this case, Senator Warren’s plans to protect the CFPB will be undone. A blessed dead end will come in the world of consumer regulation. And the mortgage industry will finally get some relief after a decade of extortion by budding progressive politicians.

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C&F Financial Co. to Issue Quarterly Dividend of $0.42 (NASDAQ:CFFI) https://granlogiacostarica.org/cf-financial-co-to-issue-quarterly-dividend-of-0-42-nasdaqcffi/ Fri, 18 Nov 2022 14:19:16 +0000 https://granlogiacostarica.org/cf-financial-co-to-issue-quarterly-dividend-of-0-42-nasdaqcffi/

C&F Financial Co. (NASDAQ: CFFIGet a rating) announced a quarterly dividend on Wednesday, November 16, Zacks reports. Shareholders of record on Thursday, December 15 will receive a dividend of 0.42 per share from the financial services provider on Sunday, January 1. This represents an annualized dividend of $1.68 and a yield of 3.18%. The ex-dividend date is Wednesday, December 14.

C&F Financial has increased its dividend by an average of 3.9% per year for the past three years and has increased its dividend annually for the past 2 consecutive years.

C&F financial price performance

CFFI Share opened at $52.78 on Friday. The company has a debt ratio of 0.30, a current ratio of 0.81 and a quick ratio of 0.79. The company’s 50-day moving average is $54.20 and its 200-day moving average is $50.65. The stock has a market capitalization of $183.66 million, a PE ratio of 7.52 and a beta of 0.29. C&F Financial has a 1-year low of $43.10 and a 1-year high of $61.50.

Insiders place their bets

Separately, Chairman Larry G. Dillon sold 500 shares of C&F Financial in a trade dated Friday, November 4. The shares were sold at an average price of $54.25, for a total transaction of $27,125.00. Following completion of the transaction, the President now directly owns 35,882 shares of the company, valued at $1,946,598.50. The sale was disclosed in a filing with the Securities & Exchange Commission, accessible via this link. Separately, Chairman Larry G. Dillon sold 4,000 shares of the company in a trade on Tuesday, November 1. The stock was sold at an average price of $56.68, for a total transaction of $226,720.00. Following the completion of the sale, the president now owns 36,382 shares of the company, valued at $2,062,131.76. The sale was disclosed in a filing with the Securities & Exchange Commission, available at this link. Additionally, Chairman Larry G. Dillon sold 500 shares in a trade on Friday, November 4. The shares were sold at an average price of $54.25, for a total value of $27,125.00. Following the completion of the sale, the president now directly owns 35,882 shares of the company, valued at $1,946,598.50. Disclosure of this sale can be found here. Company insiders own 6.40% of the company’s shares.

C&F Financial Institutional Trading

Several institutional investors have recently changed their positions in the company. State Street Corp increased its holdings in C&F Financial by 2.6% in the third quarter. State Street Corp now owns 9,737 shares of the financial services provider worth $525,000 after buying 251 additional shares in the last quarter. Bank of New York Mellon Corp increased its stake in C&F Financial shares by 1.8% in the third quarter. Bank of New York Mellon Corp now owns 11,646 shares of the financial services provider worth $623,000 after buying 206 more shares in the last quarter. BlackRock Inc. increased its holdings of C&F Financial shares by 102.8% in the third quarter. BlackRock Inc. now owns 28,505 shares of the financial services provider valued at $1,525,000 after acquiring 14,448 additional shares last quarter. Envestnet Asset Management Inc. purchased a new stake in shares of C&F Financial during the third quarter, valued at approximately $251,000. Finally, Dimensional Fund Advisors LP increased its stake in C&F Financial by 1.2% during the third quarter. Dimensional Fund Advisors LP now owns 189,371 shares of the financial services provider worth $10,131,000 after acquiring an additional 2,161 shares during the period. Institutional investors hold 28.54% of the company’s shares.

Wall Street analysts predict growth

Separately, StockNews.com launched coverage on C&F Financial in a research note on Wednesday, October 12. They issued a “buy” rating for the company.

C&F Financial Company Profile

(Get a rating)

C&F Financial Corporation operates as a bank holding company for Citizens and Farmers Bank which provides retail and business banking services. The Company’s retail banking offers various banking services, including checking accounts and savings deposit accounts, as well as business, real estate, development, mortgage, home equity and installment loans.

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Dividend history for C&F Financial (NASDAQ:CFFI)

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Itaú Corpbanca (NYSE:ITCB) Short Interest Down 10.9% in October https://granlogiacostarica.org/itau-corpbanca-nyseitcb-short-interest-down-10-9-in-october/ Wed, 16 Nov 2022 07:16:09 +0000 https://granlogiacostarica.org/itau-corpbanca-nyseitcb-short-interest-down-10-9-in-october/

Itau Corpbanca (NYSE:ITCBGet a rating) saw a significant decline in short-term interest in October. As of October 31, there was short interest totaling 141,000 shares, down 10.9% from the total of 158,300 shares as of October 15. Based on an average trading volume of 21,700 shares, the day-to-cover ratio is currently 6.5 days.

Analysts set new price targets

Separately, StockNews.com began covering Itaú Corpbanca shares in a research report on Wednesday, October 12. They have set a “holding” rating on the stock.

Institutional entries and exits

Hedge funds and other institutional investors have recently changed their positions in the company. Dimensional Fund Advisors LP increased its position in Itaú Corpbanca shares by 4.3% during the third quarter. Dimensional Fund Advisors LP now owns 86,256 shares of the bank worth $247,000 after buying 3,585 additional shares in the last quarter. Veriti Management LLC increased its position in Itaú Corpbanca by 196.5% during the third quarter. Veriti Management LLC now owns 265,668 shares of the bank worth $763,000 after purchasing an additional 176,076 shares last quarter. Finally, Northern Trust Corp bought a new position in Itaú Corpbanca during the first quarter worth $40,000. Institutional investors and hedge funds own 0.15% of the company’s shares.

Stock Itaú Corpbanca up 2.4%

ITCB opened at $3.35 on Wednesday. The company has a debt ratio of 3.39, a quick ratio of 1.60 and a current ratio of 1.60. The company has a market capitalization of $1.14 billion, a price-earnings ratio of 4.53 and a beta of 0.98. Itaú Corpbanca has a 1-year low of $2.50 and a 1-year high of $3.94. The company’s fifty-day moving average is $3.04 and its two-hundred-day moving average is $3.13.

Company Profile Itaú Corpbanca

(Get a rating)

Itaú Corpbanca provides wholesale and retail banking services to small and medium enterprises, individuals and institutional clients in Chile and Colombia. The company offers checking and savings accounts, demand and term deposits, certificates of deposit and bank drafts; and Chilean peso and foreign currency loans, trade finance, general commercial and consumer loans, working capital loans, personal installment loans, mortgage loans, lines of credit and letters of credit.

See also

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BSP maintains cap on credit card fees until the end of the year https://granlogiacostarica.org/bsp-maintains-cap-on-credit-card-fees-until-the-end-of-the-year/ Sat, 12 Nov 2022 16:00:00 +0000 https://granlogiacostarica.org/bsp-maintains-cap-on-credit-card-fees-until-the-end-of-the-year/
Laurent Agcaoili – The Star of the Philippines

November 13, 2022 | 00:00

MANILA, Philippines — Consumers are expected to continue to enjoy low interest rates and fees on their credit card transactions at least through the Christmas holidays after Bangko Sentral ng Pilipinas (BSP) decided to maintain the current cap until ‘at the end of the year.

The central bank’s Monetary Board has decided to keep the cap on interest rates and fees on credit card transactions until the end of December before reviewing them in January next year.

“No big reason. Just the timing of the cap adjustment,” BSP Governor Felipe Medalla told The STAR.

Medalla, who chairs the seven-member Monetary Council, said earlier that the regulator was finally adjusting the rate cap and other charges after a series of aggressive rate hikes imposed by the BSP to tame inflation and stabilize the economy. peso.

The STAR first reported that the BSP imposes an interest rate or finance charge cap of 2% per month and 24% per annum on the outstanding credit card balance.

Similarly, additional monthly rates that credit card issuers could charge on installment loans were set at a maximum rate of 1%, as well as a maximum processing fee of P200 per transaction on the use of advances funds on credit card.

BSP formalized the imposition of the Monetary Board-approved cap through Circular 1098 issued in late September 2020 and the cap came into effect on November 3, 2020 to ease the burden on Filipinos affected by the global health crisis.

The maximum rates and charges are subject to review by BSP every six months and a new rate was expected to be in place by early November.

Before the cap was imposed at the height of the global health crisis, the annualized interest rate on credit card receivables averaged 36%.

After cutting policy rates by 200 basis points, bringing the benchmark rate down to a historic low of 2% as part of its COVID-19 response measures in 2020, the BSP turned hawkish by aggressively raising interest rates by 225 basis points to 4.25% this year to control inflation and stabilize the peso.

The central bank is widely expected to deliver another huge 75 basis point hike on Thursday after Medalla highlighted the need for the BSP Monetary Council to match the Federal Reserve’s aggressive rate hikes point by point. US in order to maintain the interest rate differential.

Philippine banks and credit card issuers have reported lower revenues since caps were imposed on credit card fees.

Preliminary data from the BSP showed credit card lending jumped 26.1 percent to 507.42 billion pesos at the end of September this year, from 402.41 billion pesos at the end of September. last year, consumer loans increased by 20.5% to 965.99 billion pesos against 801.4. billion.

During the nine-month period, total loans disbursed by major banks grew at a faster rate of 13.4% to reach 10.49 trillion pesos compared to a level of 9.25 trillion pesos a year ago. a year, supporting the recovery of economic activity and domestic demand.

From strict Alert Level 3 in January as infections surged with the highly transmissible variant of Omicron, the National Capital Region and neighboring provinces moved to Alert Level 1 in March as COVID cases -19 were steadily decreasing.

In the third quarter of the year, the Philippines recorded gross domestic product (GDP) growth of 7.6% faster than expected despite soaring inflation and a weak peso. This figure was slightly higher than the 7.5% expansion recorded in the second quarter.

The country is on track to meet the GDP growth target of 6.5-7.5% set by economic managers, with expansion averaging 7.7% for the January-September period.

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Banco de Chile (NYSE:BCH) Receives Consensus “Hold” Recommendation from Analysts https://granlogiacostarica.org/banco-de-chile-nysebch-receives-consensus-hold-recommendation-from-analysts/ Thu, 10 Nov 2022 06:45:35 +0000 https://granlogiacostarica.org/banco-de-chile-nysebch-receives-consensus-hold-recommendation-from-analysts/

Banco de Chile shares (NYSE: BCHGet a rating) have received a consensus recommendation of “Hold” by the eight brokerages that cover the business, Market Beat Ratings reports. Five equity research analysts rated the stock with a hold rating and two gave the company a buy rating. The 12-month average price target among brokerages that have quoted the stock over the past year is $23.00.

Several research companies have recently commented on BCH. Scotiabank downgraded Banco de Chile’s rating from “sector outperformer” to “sector performer” in a Wednesday, Oct. 26 research note. Credit Suisse Group lowered its price target on Banco de Chile to $21.00 in a Monday, August 22 research report. To finish, StockNews.com upgraded Banco de Chile from a “buy” to a “hold” rating in a Monday, October 31 research report.

Bank of Chile shares down 1.6%

NYSE BCH opened at $18.77 on Thursday. The stock’s 50-day moving average price is $18.42 and its 200-day moving average price is $18.89. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt ratio of 3.02. Banco de Chile has a 52-week low of $15.60 and a 52-week high of $22.74. The company has a market capitalization of $9.48 billion, a P/E ratio of 5.11, a price-to-earnings growth ratio of 0.81 and a beta of 0.38.

Hedge funds weigh on Banco de Chile

Several institutional investors have recently increased or reduced their stake in the company. Renaissance Technologies LLC increased its stake in Banco de Chile by 2.4% during the second quarter. Renaissance Technologies LLC now owns 1,663,554 shares of the bank valued at $30,327,000 after purchasing an additional 38,500 shares last quarter. Dimensional Fund Advisors LP increased its holdings of Banco de Chile shares by 1.3% in Q1. Dimensional Fund Advisors LP now owns 597,813 shares of the bank worth $12,795,000 after purchasing an additional 7,462 shares during the period. FMR LLC increased its stake in Banco de Chile shares by 9.3% in the 2nd quarter. FMR LLC now owns 253,516 shares of the bank worth $4,621,000 after purchasing an additional 21,640 shares during the period. Banco BTG Pactual SA bought a new position in shares of Banco de Chile in Q1 worth approximately $3,268,000. Finally, Sagil Capital LLP bought a new position in shares of Banco de Chile in Q2 worth approximately $2,503,000. Hedge funds and other institutional investors own 1.10% of the company’s shares.

Banco de Chile Company Profile

(Get a rating)

Banco de Chile, together with its subsidiaries, provides banking and financial products and services to customers in Chile. It operates through retail banking, wholesale banking and cash and money market segments. The Company offers deposit products, such as checking accounts, current accounts, deposits and current accounts, savings accounts and term deposits; commercial, mortgage, consumer, working capital, syndicated and installment loans; and credit cards.

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Analyst Recommendations for Banco de Chile (NYSE: BCH)

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Dividend announcement CMSC $0.3672/share 03/11/2022 https://granlogiacostarica.org/dividend-announcement-cmsc-0-3672-share-03-11-2022/ Thu, 03 Nov 2022 21:24:51 +0000 https://granlogiacostarica.org/dividend-announcement-cmsc-0-3672-share-03-11-2022/

5.875% Jr Sub Nt 10/15/2078/CMS Energy Corp (NYSE: CMSC) on 11/03/2022 declared a dividend of $0.3672 per share payable January 15, 2023 to shareholders of record as of December 30, 2022.

5.875% Jr Sub Nt 10/15/2078/CMS Energy Corp (NYSE: CMSC) has paid dividends since 2019, has a current dividend yield of 6.7835717201% and has increased dividends for 0 consecutive years.

The stock price closed yesterday at $21.67 and has a 52-week low/high of $21.53 and $27.51.

CMS Energy is a holding company. Co. has several subsidiaries, including: Consumers Energy Company, an electric and gas utility that serves individuals and businesses operating in the alternative energy, automotive, chemical, food and metal products, as well as a group of other industries; CMS Enterprises Company, which, through its subsidiaries and equity interests, is engaged in domestic independent power generation, including the development and operation of renewable energy generation, and the marketing of independent power generation; and EnerBank USA, a Utah-based industrial bank that primarily provides unsecured installment loans for home improvement financing.

For more information on 5.875% Jr Sub Nt 10/15/2078/CMS Energy Corp, click here.

5.875% Jr Sub Nt 10/15/2078/CMS Energy Corp current dividend information as of the date of this press release is:

Dividend declaration date: November 3, 2022
Ex-dividend date: December 29, 2022
Dividend record date: December 30, 2022
Dividend payment date: January 15, 2023
Dividend amount: $0.3672

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Civista Bancshares, Inc. (NASDAQ:CIVB) Expected to Generate Fiscal 2023 Earnings of $3.10 Per Share https://granlogiacostarica.org/civista-bancshares-inc-nasdaqcivb-expected-to-generate-fiscal-2023-earnings-of-3-10-per-share/ Tue, 01 Nov 2022 11:54:09 +0000 https://granlogiacostarica.org/civista-bancshares-inc-nasdaqcivb-expected-to-generate-fiscal-2023-earnings-of-3-10-per-share/

Civista Bancshares, Inc. (NASDAQ: CIVBGet an assessment) – Investment analysts DA Davidson raised their fiscal 2023 earnings per share estimates for Cavista Bancshares shares in a research note released on Monday, October 31. DA Davidson analyst Navas now expects the bank to post earnings per share of $3.10 for the year, up from its previous estimate of $3.00. Civista Bancshares’ current annual earnings consensus estimate is $2.46 per share.

A number of other research companies have also recently commented on the CIVB. Stephens raised his price target on Civista Bancshares to $27.00 in a Tuesday, August 23 research note. StockNews.com Civista Bancshares upgraded from a “hold” rating to a “buy” rating in a research note on Friday. Hovde Group downgraded Civista Banc shares from an “outperform” rating to a “market perform” rating and set a target price of $25.00 for the company. in a Friday July 29 research note. Finally, Piper Sandler lowered her price target on Civista Bancshares to $23.50 in a Thursday, September 29 research note.

Civista Banc shares trade up 1.2%

CIVB opened at $23.70 on Tuesday. The stock has a market capitalization of $365.45 million, a PE ratio of 9.29 and a beta of 0.77. The company has a quick ratio of 0.91, a current ratio of 0.91 and a leverage ratio of 0.59. The company has a 50-day moving average of $21.41 and a 200-day moving average of $21.47. Civista Bancshares has a 52-week low of $20.10 and a 52-week high of $25.94.

Institutional Equity Trading Civista Banc

A number of institutional investors and hedge funds have recently changed their holdings in CIVB. Fifth Third Bancorp purchased a new equity stake from Civista Bancshares in Q3 for $30,000. Venture Visionary Partners LLC bought a new stake in shares of Civista Bancshares in Q2 worth $35,000. Amalgamated Bank purchased a new equity stake from Civista Bancshares in Q1 worth $43,000. SG Americas Securities LLC bought a new stake in shares of Civista Bancshares in Q2 for $126,000. Lastly, BNP Paribas Arbitrage SA increased its stake in Cavista Bancshares shares by 78.6% in the second quarter. BNP Paribas Arbitrage SA now owns 6,108 shares in the bank worth $130,000 after buying an additional 2,689 shares last quarter. Institutional investors hold 52.59% of the company’s shares.

Civista Bancshares dividend announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 22. Shareholders of record on Tuesday, November 8 will receive a dividend of $0.14 per share. This represents a dividend of $0.56 on an annualized basis and a yield of 2.36%. The ex-dividend date is Monday, November 7. The distribution rate of Civista Bancshares is 21.96%.

About Civista Bancshares

(Get an assessment)

Cavista Bancshares, Inc is a financial holding company active in the community banking sector. It provides financial services through its offices in the Ohio counties of Erie, Crawford, Champaign, Franklin, Logan, Summit, Huron, Ottawa, Madison, Union and Richland. The Company’s primary deposit products are checking, savings and term certificate accounts, and its lending products are residential, commercial and installment mortgages.

Read more

Earnings History and Estimates for Civista Banc (NASDAQ:CIVB) Stock

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Although Civista Bancshares currently has a “moderate buy” rating among analysts, top-rated analysts believe these five stocks are better buys.

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Global Acceptance (NASDAQ:WRLD) Receives New Price Target of $87.00 at Stephens https://granlogiacostarica.org/global-acceptance-nasdaqwrld-receives-new-price-target-of-87-00-at-stephens/ Sat, 29 Oct 2022 17:42:08 +0000 https://granlogiacostarica.org/global-acceptance-nasdaqwrld-receives-new-price-target-of-87-00-at-stephens/

Worldwide Acceptance (NASDAQ: WRLDGet a rating) had its price target lowered by Stephens Research analysts from $105.00 to $87.00 in a research note released Friday to investors, Target Stock Advisor reports. The company currently has an “underweight” rating on shares of the credit service provider. Stephens’ price target suggests a potential upside of 13.84% from the company’s previous close.

A number of other brokerages also weighed in on WRLD. BMO Capital Markets reduced its target price on World Acceptance shares from $57.00 to $52.00 in a Friday, July 29 research report. StockNews.com downgraded shares of World Acceptance from a “buy” rating to a “hold” rating in a report on Wednesday, October 19.

Performance of Global Acceptance Actions

Shares of WRLD traded at $0.95 during midday trading on Friday, reaching $76.42. 3,497 shares of the company were traded, against an average volume of 63,533. World Acceptance has a 52-week low of $72.14 and a 52-week high of $265.75. The stock’s 50-day simple moving average is $107.64 and its 200-day simple moving average is $129.20. The company has a market capitalization of $479.92 million, a price-earnings ratio of 16.91 and a beta of 1.46. The company has a quick ratio of 17.67, a current ratio of 17.67 and a debt ratio of 2.19.

Worldwide Acceptance (NASDAQ: WRLDGet a rating) last reported quarterly earnings data on Wednesday, July 27. The credit services provider reported earnings per share (EPS) of $1.15 for the quarter, beating consensus analyst estimates of $0.85 by $0.30. The company posted revenue of $157.59 million for the quarter, compared to $144.60 million expected by analysts. World Acceptance had a net margin of 4.81% and a return on equity of 11.50%. During the same period last year, the company posted earnings per share of $2.44. On average, equity research analysts expect World Acceptance to post 4.95 EPS for the current year.

Institutional investors weigh on global acceptance

Several hedge funds and other institutional investors have been buying and selling stocks recently. Kize Capital LP increased its position in World Acceptance shares by 5.1% during the second quarter. Kize Capital LP now owns 206,260 shares of the credit services provider worth $23,151,000 after acquiring an additional 10,000 shares in the last quarter. State Street Corp increased its position in World Acceptance shares by 1.9% during the first quarter. State Street Corp now owns 138,337 shares of the credit service provider worth $26,539,000 after acquiring 2,624 more shares last quarter. Landscape Capital Management LLC increased its position in World Acceptance shares by 11.0% during the first quarter. Landscape Capital Management LLC now owns 25,927 shares of the credit service provider worth $4,974,000 after acquiring 2,574 additional shares last quarter. Millennium Management LLC increased its position in World Acceptance shares by 408.6% during the second quarter. Millennium Management LLC now owns 20,832 shares of the credit service provider worth $2,338,000 after acquiring an additional 16,736 shares last quarter. Finally, Cubist Systematic Strategies LLC increased its holdings in World Acceptance by 364.7% during the second quarter. Cubist Systematic Strategies LLC now owns 13,146 shares of the credit service provider worth $1,476,000 after buying 10,317 additional shares in the last quarter. 87.09% of the shares are held by institutional investors.

About Global Acceptance

(Get a rating)

World Acceptance Corporation, together with its subsidiaries, is engaged in the small loan consumer finance business. The Company offers short-term, small-payment loans, medium-term, larger-payment loans, related credit insurance, and ancillary products and services to individuals. It also provides automobile club memberships to its borrowers; and electronic tax return preparation and filing services.

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Upgrade Offers 3.5% APY as Deposit Battle Heats Up https://granlogiacostarica.org/upgrade-offers-3-5-apy-as-deposit-battle-heats-up/ Thu, 27 Oct 2022 11:59:59 +0000 https://granlogiacostarica.org/upgrade-offers-3-5-apy-as-deposit-battle-heats-up/

Renaud Laplanche, CEO of Upgrade, speaks at a conference in Brooklyn, New York, in 2018.

Alex Flynn | Bloomberg via Getty Images

Start by credit card Upgrade is releasing a new savings account with what it says is the highest interest rate in the country as competition for deposits intensifies, CNBC has learned.

Fintech Premier Savings Account launches Thursday with an annual percentage return of 3.5%, according to CEO Renaud Laplanche. That’s more than any account currently tracked by Bankrate.comsaid senior analyst Ted Rossman in an email.

“At 3.5%, we are by far the best savings account in the country,” Laplanche said in an interview.

Competition for deposits is beginning to intensify after a time when banks were flooded with money and had little reason to raise rates. That started to change when the Federal Reserve launched its most aggressive strategy rate increase campaign for decades, crushing borrowers and ultimately rewarding long-suffering savers.

A year ago, high-yield savings accounts had APYs around 0.5%; now many are over 2%.

The momentum is being closely watched by banking analysts as higher funding costs affect the extent to which the sector is likely to benefit from future Fed decisions. Even the big banks, including JPMorgan Chase and Wells Fargohave recently raised CD prices, unlike earlier this year when it was mostly small institutions collecting payments, Morgan Stanley said analyst Betsy Graseck in a Sept. 30 note.

“This suggests that deposit price pressure is increasingly dispersed across the banking sector as rates rise sharply,” Graseck said. “We believe deposit price competition will continue to intensify from here.”

One reason for this is that fintech players are more established now than in previous rate hike cycles, and they tend to pay the highest rates, according to the veteran analyst.

Network effects

Upgrade, a San Francisco-based startup founded by Laplanche in 2016, can afford to pay higher rates than competitors because of its network of 200 smaller banks and credit unions, according to the CEO. These institutions do not have national deposit-taking platforms and, therefore, are willing to pay more for funding, he said.

“These deposits are much more valuable to us and our smaller partner banks than they are to others,” Laplanche said. “We can make sure they have all the funding they need because we can collect deposits on their behalf.”

Ironically, the second highest rate listed by Bankrate.com this week was offered by loan club at 3.12%. Laplanche co-founded the fintech pioneer in 2006 before leaving a decade later.

Similar to other fintech companies like Chime that offer banking services through smartphone apps, Upgrade is not a bank; it partners with institutions such as Cross River Bank to offer FDIC guaranteed accounts.

The new upgrade account requires a minimum balance of $1,000 to earn the 3.5% APY. It has few restrictions apart from that; accounts are not capped and do not require users to sign up for Upgrade’s other products to take advantage of the pricing, Laplanche said.

Other fintech players offer higher rates on limited sums of money. fintech Runningfor example, offers a 4% APY, but only for savings up to $6,000.

headed higher

Laplanche said the rate for his product is expected to climb further in the coming months as the Fed tries to fight inflation by raising its benchmark rate, he said.

“We will follow what the Fed does,” the CEO said. “If they keep raising rates, there could be a time next year when we pay 4.5%.”

Upgrade, which was rated at $6.28 billion in a private funding round late last year, is best known for its credit cards that turn monthly balances into installment loans.

This feature automates the financial discipline of its users and generally reduces the interest they pay compared to traditional cards. The product seems to be gaining ground; Upgrade Was Fastest Growing Card Issuer by Outstanding Balances Among Top 50 Players, According to Industry Bulletin Nilson Report.

Upgrade will continue to create products with the goal of helping Americans through life’s events, including eventually offering car loans and mortgages, Laplanche said. And unlike many other direct-to-consumer fintech companies, Upgrade is profitable and doesn’t need to raise more funds, he said.

“The world was awash with cash and deposits just a year ago,” Laplanche said. “Now you see the opposite happening and deposits are becoming really valuable again.”

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Banco de Chile (NYSE:BCH) upgraded to buy on StockNews.com https://granlogiacostarica.org/banco-de-chile-nysebch-upgraded-to-buy-on-stocknews-com/ Sun, 23 Oct 2022 03:12:13 +0000 https://granlogiacostarica.org/banco-de-chile-nysebch-upgraded-to-buy-on-stocknews-com/

Bank of Chile (NYSE: BCHGet a rating) has been upgraded by StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Friday.

Separately, Credit Suisse Group lowered its price target on Banco de Chile shares to $21.00 in a Monday, August 22 research report. Four investment analysts gave the stock a hold rating and four gave the stock a buy rating. According to data from MarketBeat.com, Banco de Chile currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.00.

Banco de Chile trades up 1.7%

NYSE: BCH traded at $0.31 during Friday trading hours, hitting $18.05. The stock recorded a trading volume of 221,027 shares, compared to an average volume of 152,319 shares. The company has a market capitalization of $9.12 billion, a price/earnings ratio of 5.34, a P/E/G ratio of 0.80 and a beta of 0.38. Banco de Chile has a one-year low of $15.60 and a one-year high of $22.74. The company has a debt ratio of 3.17, a quick ratio of 1.46 and a current ratio of 1.46. The company’s 50-day moving average is $18.62 and its 200-day moving average is $19.20.

Bank of Chile (NYSE: BCHGet a rating) last announced its quarterly results on Friday, July 29. The bank reported earnings per share of $1.03 for the quarter, beating consensus analyst estimates of $0.63 by $0.40. The company posted revenue of $580.90 million for the quarter, versus analyst estimates of $792.40 million. Banco de Chile had a net margin of 49.07% and a return on equity of 32.11%. Sell-side analysts expect Banco de Chile to post EPS of 2.84 for the current fiscal year.

Institutional investors weigh on Banco de Chile

A number of institutional investors have recently increased or reduced their stake in BCH. TCW Group Inc. purchased a new stake in shares of Banco de Chile in Q1 worth approximately $290,000. Whittier Trust Co. acquired a new stake in Banco de Chile during Q1 valued at approximately $230,000. Envestnet Asset Management Inc. increased its position in Banco de Chile by 107.8% during the 1st quarter. Envestnet Asset Management Inc. now owns 21,082 shares of the bank valued at $452,000 after purchasing an additional 10,935 shares during the period. Crossmark Global Holdings Inc. increased its stake in Banco de Chile by 2.6% in the 1st quarter. Crossmark Global Holdings Inc. now owns 24,372 shares of the bank worth $522,000 after buying 612 additional shares in the last quarter. Finally, Banco BTG Pactual SA acquired a new position in Banco de Chile shares in Q1 worth approximately $3,268,000. 1.10% of the shares are held by institutional investors.

About Banco de Chile

(Get a rating)

Banco de Chile, together with its subsidiaries, provides banking and financial products and services to customers in Chile. It operates through retail banking, wholesale banking and cash and money market segments. The Company offers deposit products, such as checking accounts, current accounts, deposits and current accounts, savings accounts and term deposits; commercial, mortgage, consumer, working capital, syndicated and installment loans; and credit cards.

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Analyst Recommendations for Banco de Chile (NYSE: BCH)

This instant news 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 contact@marketbeat.com.

Before you consider Banco de Chile, you’ll want to hear this.

MarketBeat tracks daily the highest rated and most successful research analysts on Wall Street and the stocks they recommend to their clients. MarketBeat has identified the five actions that top analysts are quietly whispering to their clients to buy now before the market spreads…and Banco de Chile was not on the list.

While Banco de Chile currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.

See the five actions here

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