Loans – Freedom Toons http://freedomtoons.org/ Fri, 01 Jul 2022 08:49:56 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://freedomtoons.org/wp-content/uploads/2021/05/default.png Loans – Freedom Toons http://freedomtoons.org/ 32 32 Stephens cuts global acceptance (NASDAQ:WRLD) to being underweight https://freedomtoons.org/stephens-cuts-global-acceptance-nasdaqwrld-to-being-underweight/ Fri, 01 Jul 2022 08:49:56 +0000 https://freedomtoons.org/stephens-cuts-global-acceptance-nasdaqwrld-to-being-underweight/ Worldwide Acceptance (NASDAQ:WRLD – Get Rating) was downgraded by Stephens analysts from an “equal weight” rating to an “underweight” rating in a research report released Wednesday, Marketbeat.com reports. They currently have a price target of $159.00 on shares of the credit service provider. Stephens’ target price would suggest a potential upside of 41.66% from the […]]]>

Worldwide Acceptance (NASDAQ:WRLD – Get Rating) was downgraded by Stephens analysts from an “equal weight” rating to an “underweight” rating in a research report released Wednesday, Marketbeat.com reports. They currently have a price target of $159.00 on shares of the credit service provider. Stephens’ target price would suggest a potential upside of 41.66% from the company’s current price.

Other stock analysts have also published research reports on the stock. StockNews.com upgraded World Acceptance shares from a “hold” to a “buy” rating in a Monday, May 2 research report. TheStreet downgraded shares of World Acceptance from a ‘b-‘ rating to a ‘c+’ rating in a Thursday, May 12 research note.

WRLD opened at $112.24 on Wednesday. The company has a market capitalization of $704.64 million, a P/E ratio of 13.22 and a beta of 1.48. Worldwide acceptance has a 1-year minimum of $107.96 and a 1-year maximum of $265.75. The company has a 50-day simple moving average of $145.37 and a two-hundred-day simple moving average of $184.89. The company has a debt ratio of 1.86, a current ratio of 15.36 and a quick ratio of 15.36.

World Acceptance (NASDAQ:WRLD – Get Rating) last released its quarterly results on Thursday, May 5. The credit service provider reported earnings per share of $2.97 for the quarter, missing analyst consensus estimates of $6.88 per ($3.91). World Acceptance had a return on equity of 13.42% and a net margin of 9.26%. The company posted revenue of $166.33 million in the quarter, versus a consensus estimate of $173.91 million. Stock analysts expect World Acceptance to post earnings per share of 5.23 for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of the company. The Public Sector Pension Investment Board increased its position in World Acceptance by 0.8% during the fourth quarter. The Public Sector Pension Investment Board now owns 8,591 shares of the credit service provider worth $2,108,000 after buying 70 more shares in the last quarter. The New York State Teachers Retirement System increased its stake in World Acceptance by 1.1% in the first quarter. The New York State Teachers’ Retirement System now owns 9,371 shares of the credit service provider worth $1,798,000 after acquiring 100 additional shares in the last quarter. Patton Albertson Miller Group LLC increased its stake in World Acceptance by 1.3% in the 1st quarter. Patton Albertson Miller Group LLC now owns 11,239 shares of the credit service provider worth $2,156,000 after acquiring an additional 140 shares last quarter. Bank of America Corp DE increased its stake in World Acceptance by 2.0% in the fourth quarter. Bank of America Corp DE now owns 8,825 shares of the credit service provider worth $2,165,000 after acquiring 176 additional shares last quarter. Finally, CWM LLC purchased a new stake in World Acceptance in the 4th quarter at a value of $48,000. 85.05% of the shares are held by institutional investors.

About Global Acceptance (Get an assessment)

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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Marqeta extends its credit platform with a dashboard and APIs https://freedomtoons.org/marqeta-extends-its-credit-platform-with-a-dashboard-and-apis/ Wed, 29 Jun 2022 10:18:03 +0000 https://freedomtoons.org/marqeta-extends-its-credit-platform-with-a-dashboard-and-apis/ “With these new features offered with FNBO, our customers benefit from a much more intuitive experience and can leverage APIs to design engaging card programs with personalized rewards, digital experiences and rapid onboarding.” Marqeta has expanded its credit platform with a new dashboard and over 40 new credit APIs that allow customers to design, test […]]]>

“With these new features offered with FNBO, our customers benefit from a much more intuitive experience and can leverage APIs to design engaging card programs with personalized rewards, digital experiences and rapid onboarding.”

Marqeta has expanded its credit platform with a new dashboard and over 40 new credit APIs that allow customers to design, test and launch differentiated credit card experiences.

Customers also have the option to take advantage of First National Bank of Omaha’s (FNBO) program management and banking capabilities alongside these new features.

The new credit capabilities allow fintechs, brands and banks to integrate directly with Marqeta’s APIs and leverage its dashboard and workflows to design and integrate a native credit card experience.

Randy Kern, Chief Technology Officer at Marqeta, said, “Launching credit card programs has always been long and inflexible, especially for large banks, requiring months of manual configuration before development can even begin. And once the cards hit the market, it was often extremely difficult to make changes to the rewards or customer experience after development was complete.

“We have brought the power of modern card issuance to the credit card market to deliver much-needed innovation and give our customers increased agility to meet rapidly changing consumer demands. With these new features offered with FNBO, our customers benefit from a much more intuitive experience and can leverage APIs to design engaging card programs with personalized rewards, digital experiences, and fast onboarding. Additionally, when consumer preferences change, these card programs can be seamlessly updated to meet new user expectations.

Marc Butterfield, SVP, Innovation & Disruption for FNBO, said, “FNBO has been a pioneer in the credit card landscape for decades, and by partnering with Marqeta, we continue to modernize our offering to capture new markets and supporting new brands that are at the forefront of innovation in financial services. We are proud to work with Marqeta to bring customizable and flexible credit card products that can set a new standard for what a credit card can be, and we look forward to unlocking even more potential with our management capabilities. cutting-edge program through ongoing partnership. with Marqueta.

Key new features of Marqeta’s credit platform include:

  • Intuitive Dashboard Experience: A revolutionary “no-code” workflow will allow customers to configure key card settings such as APRs, rewards and fees, with built-in approval and compliance controls, enabling businesses to launch cards faster and with more control. than with legacy solutions;
  • Flexible rewards engine: Marqeta’s rewards tools allow customers to go beyond the traditional cash back rewards that are common in the market today. Customers can mix and match rewards based on merchant category spend and various cardholder behaviors, such as one-time payments. This allows them to implement new rewards options in real time, creating more opportunities for increased spend. For example, customers can reward users by investing in a crypto or investment account on their own platform or by making a payment on time to encourage healthy financial habits;
  • Simplified authorization with just-in-time (JIT) gateway financing: Marqeta’s credit platform also now comes with its industry-leading JIT gateway feature, allowing businesses to participate in the authorization of credit transactions. This opens up one-time spending use cases such as lowering recurring subscription spending, converting purchases into installment loans, or granting additional credit beyond a user’s current credit limit. ;
  • Instant decision: Clients can now provide their users with an instant credit decision via Marqeta’s API connection to FNBO’s decision engine.
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Fintech investors appear to be favoring later-stage deals as the sector takes a hit, recent data shows https://freedomtoons.org/fintech-investors-appear-to-be-favoring-later-stage-deals-as-the-sector-takes-a-hit-recent-data-shows/ Sun, 26 Jun 2022 14:16:35 +0000 https://freedomtoons.org/fintech-investors-appear-to-be-favoring-later-stage-deals-as-the-sector-takes-a-hit-recent-data-shows/ Welcome to The Exchange! If you received it in your inbox, thank you for subscribing and for your vote of confidence. If you read this as a post on our site, subscribe here so you can receive it directly in the future. Each week, I’ll take a look at the hottest fintech news from the […]]]>

Welcome to The Exchange! If you received it in your inbox, thank you for subscribing and for your vote of confidence. If you read this as a post on our site, subscribe here so you can receive it directly in the future. Each week, I’ll take a look at the hottest fintech news from the previous week. This will include everything from funding rounds and trends to analysis of a particular space and hot shots on a particular company or phenomenon. There’s a lot of fintech news out there and it’s my job to stay up to date – and make sense – so you can stay up to date. Let’s go! — Mary Ann

I was mostly away last week, so this edition of The Interchange might be slightly less dense than normal. A few observations though. We’ve seen fewer layoffs, but also less news related to fintech in general. Things were generally fairly quiet and less contentious than in past weeks. Honestly, we’re really looking forward to this quarter being over so we can dig deeper into the numbers to see how much the funding landscape has changed compared to 2021. Until then, we’ve looked at some recent numbers.

Fewer trades, bigger rounds – but still down

My dear friends and co-hosts on the Equity Podcast, Alex and Natasha, discussed the fintech funding market last week not once, but twice – here and here. Meanwhile, it felt like there was a bump in fintech-related funding announcements. It made me curious enough to reach out to my old friends at Crunchbase for data on how much fintech startups have raised in recent weeks. (Keep in mind that this is preliminary and there is also a lag – so there will most certainly be more bids and dollars reported for the same time periods in the future.) I mostly expected to see an increase in numbers. And I did, sort of. Here’s what the data showed: Globally, funding was up ever so slightly in terms of dollars raised, but deal volume was down significantly last week compared to previous weeks. Specifically, Crunchbase found that fintech startups raised $1.5 billion from June 16-23 across 39 deals, compared to $1.4 billion from 53 deals the previous week and $1.2 billion from 59 deals. 2 weeks ago. This tells us that there were more early-stage deals closed earlier this month, whereas last week we saw significantly fewer deals but larger round sizes.

We saw a similar trend here in the US According to Crunchbase, fintech startups in the US raised $400 million across 10 deals from June 16 to June 23. This compared to $300 million raised from 14 deals the previous week, and $300 million raised from 17 deals 2 weeks prior.

But notably, and perhaps even more surprising, is the difference between these numbers compared to June 2021. Globally, fintech startups raised a total of $8.2 billion across 272 deals from May 1-23. June 2021. That compares to a total of $4.2 billion across 151 deals in the same period this year. Meanwhile, US-based startups raised $1.9 billion across 101 deals from June 1-23, 2021. That compares to a total of $1 billion across 41 deals during the same period this year. Wow. That’s like almost half of the dollars raised both globally and in the United States. So even though this is just a small glimpse back in time, it still points to what we all know is happening – a global slowdown in funding and proof that fintech is not immune.

For the record, Crunchbase defines fintech as companies that integrate technology into the financial services sector.

Takeaway: Fewer funding deals are closing in the fintech space, and during the month of June at least, investors seemed to be taking more bets on later-stage companies, so dollars raised actually increased as the month progressed. That means it’s likely increasingly difficult for early-stage companies to win over VCs, who would apparently do more due diligence and demand more traction than in the whirlwind of 2021.

Photo: PM Images/Digital Vision/Getty Images

Weekly News

Buy now, Pay Later (BNPL), estimated at $120 billion in 2021, has grown significantly in recent years. But for most of its rise to virtual checkout prominence, BNPL has largely targeted everyday consumer goods like clothing from Urban Outfitters or a Peloton. Now, the credit method goes beyond its e-commerce roots. In recent months, large companies have joined the BNPL market, also hoping to quickly approve consumers for installment loans. Rebecca Szkutak digs here.

Speaking of BNPL, the Swedish Klarna has (finally) launched a new loyalty card feature in its app, which it says allows users to store and access all of their physical loyalty cards as digital versions, eliminating the need to carry physical cards when shopping. of their in-store purchases. The company is clearly striving to increase its user count given that its valuation has reportedly been reduced from $45 billion to $15 billion, a reduction that our own Alex Wilhelm deems “high enough.”

Scoop: Three more top executives of digital mortgage lender Better.com have quit, I reported last week. These three executives are Jillian White, managing director of Better’s affiliated businesses known as Better+, which consists of its title/settlement, insurance and home inspection services; Megan Bellingham, who was senior vice president of sales and operations; and John Moffatt, who served as vice president of sales.

Brex released a mea culpa this week after its shocking announcement last week to stop working with SMEs. Pedro Franceschi, Founder and Co-CEO, addressed the issue in a blog post titled simply “About last week’s announcement”. In the message, Franceschi expressed regret for the “poor job explaining this decision, which eroded some of the precious trust” that Brex had built over the years. He also outlined the criteria a company must meet to qualify to remain a Brex customer.

Speaking of Brex and SMEs, Tillful – a free business credit app built by VC-backed startup Flowcast – announced last week that it is launching a new feature for its users through a direct partnership with Experian in an effort to better inform business credit scoring in SME/SME lending . The startup says it’s a “one-of-a-kind partnership” between a fintech and a major credit reporting agency “with the aim of making credit risk assessment more ‘open'”. Flowcast has developed AI-powered credit models for lenders and is backed by ING Ventures and BitRock Capital. Since launching Tillful, over 50,000 small businesses have signed up to help manage and grow their business credit.

This is where it gets even more interesting in light of the latest Brex news: Flowcast’s latest move, a spokesperson told TechCrunch, reflects its “SME doubling.” Brex, the spokesperson added, was actually one of its partners, but Flowcast hadn’t heard from them “for some time as they stopped engaging” with the company. months ago: “We haven’t received any communication from them either for a long time. Both Brex cardholder and lending partner, but we are leaving their platform and will use our own card instead.

Meanwhile, Mercury – a digital bank for startups – says it has already seen hundreds of new accounts arrive on its platform following the Brex announcement and is “seeing more every day”. , a spokesperson told TechCrunch on June 24.

Brazilian digital real estate broker QuintoAndar launched last week in Mexico City, the first time the startup has expanded outside of its home country. It will operate in the country under the “Benvi” brand, which will be the international name of the proptech. Last August, QuintoAndar announced that it had raised $120 million at a valuation of $5 billion. In April, the company laid off 160 people, or 4% of its staff, making it one of the few highly regarded Brazilian startups to cut jobs.

While we’re talking about LatAm, Brazilian digital bank Neon announced that it has hired a Silicon Valley tech veteran who has held roles at Google, Snap and Coinbase as its new chief technology officer. André Madeira is the former co-founder and CEO of Meemo, which was acquired by Coinbase last year.

Vishal Garg Better.com layoffs, admits he has

Vishal Garg layoffs Better.com, admits he “failed” on multiple fronts in a leaked filing dealing with major staff cuts. Meeting screenshot.

Picture credits: Leaked meeting recording/Better.com (TechCrunch)

Financing and M&A

Seen on TechCrunch

Ghanaian fintech Fido raises $30 million to roll out new products and expand in Africa

Neobank Stashfin Raises $270M, Exceeds $700M Valuation

Fintech Kasheesh wants clients in financial difficulty to say ‘goodbye’ to BNPL

SumUp raises $624m at an $8.5bn valuation, with its payments and commerce technology now used by 4m SMBs

And elsewhere

Agent-focused home insurer openly closes $75 million funding round

UK-based B2B fintech BNPL Hokodo raises $40m in Series B funding round

Fintech giving access to earned wages Tapcheck scores $20 million in Series A

Deel launches tender offer to acquire Australia-based payroll company PayGroup

Well, that’s all for this week. Again, thanks for reading – enjoy the rest of your weekend! See you next time. xoxo, Mary Ann

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Federal indictment charges CPA with securities fraud | USAO-WDNC https://freedomtoons.org/federal-indictment-charges-cpa-with-securities-fraud-usao-wdnc/ Wed, 22 Jun 2022 15:01:38 +0000 https://freedomtoons.org/federal-indictment-charges-cpa-with-securities-fraud-usao-wdnc/ CHARLOTTE, North Carolina — A federal grand jury sitting in Charlotte has returned a criminal indictment charging Mac Wayne Billings, 48, of Raleigh, North Carolina, with securities fraud, for defrauding at least 19 victims over $3.6 million, announced Dena J. King, U.S. Attorney for the Western District of North Carolina. Robert R. Wells, Special Agent […]]]>

CHARLOTTE, North Carolina — A federal grand jury sitting in Charlotte has returned a criminal indictment charging Mac Wayne Billings, 48, of Raleigh, North Carolina, with securities fraud, for defrauding at least 19 victims over $3.6 million, announced Dena J. King, U.S. Attorney for the Western District of North Carolina.

Robert R. Wells, Special Agent in Charge of the Federal Bureau of Investigation, Charlotte Division, joins U.S. Attorney King in making today’s announcement.

According to the allegations in the indictment, between 2012 and 2019, Billings engaged in securities fraud through his company, Alpha Finance Company (ALPHA), located in Sparta, North Carolina. North. The indictment alleges Billings fraudulently obtained more than $3.6 million from at least 19 victims in Alleghany, Wilkes and Surry counties, soliciting them to invest in ALPHA through ‘bonds’ . A bond note is a type of debt instrument that is generally not backed by collateral. As alleged in the indictment, Billings, who is a licensed CPA in North Carolina, falsely promised ALPHA victim-investors that their money would be used to make high-interest consumer loans. on which investors would receive interest payments. Contrary to its promises, Billings used little, if any, investor funds to make new consumer loans. Instead, Billings used some of the investors’ money to make payments to other investors and to pay himself more than $1 million in salary and distributions from ALPHA.

The indictment further alleges that Billings used investment statements, emails and meetings to mislead and deceive victim-investors into believing that ALPHA was a profitable business and that the victims’ investments were safe. In this regard, Billings allegedly failed to disclose material information regarding ALPHA’s financial and business problems to victim-investors, including that he had sold or mortgaged most of ALPHA’s assets to money lenders. Based on the fraudulent information provided by Billings, many victim-investors renewed and/or made additional investments with ALPHA, causing them to suffer additional financial losses.

Finally, lawsuits filed by the North Carolina Banking Commissioner (NCCOB) and the North Carolina Attorney General’s Office alleged that Billings failed to comply with North Carolina laws governing consumer credit and retail installment loans. Billings defaulted in those lawsuits. Consequently, the NCCOB revoked ALPHA’s license due to non-compliance with the North Carolina Consumer Finance Act. Courts in Alleghany and Wake counties declared ALPHA’s loan null and void, leaving the victim-investors with no assets to recoup their losses.

The charges in the indictment are allegations and the accused is innocent until proven guilty beyond a reasonable doubt in court.

The securities fraud charge carries a maximum prison sentence of 20 years and a fine of $5 million. Billings’ initial appearance will be scheduled in federal court in Charlotte.

In making today’s announcement, U.S. Attorney King commended the FBI for its investigation of the case and thanked the U.S. Securities and Exchange Commission, the North Carolina Banking Commissioner and the North Carolina Attorney General’s Office for their cooperation.

Assistant United States Attorney Michael E. Savage of the United States Attorney’s Office in Charlotte is prosecuting the case.

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Being poor is expensive; predatory lenders make matters worse https://freedomtoons.org/being-poor-is-expensive-predatory-lenders-make-matters-worse/ Mon, 20 Jun 2022 13:45:35 +0000 https://freedomtoons.org/being-poor-is-expensive-predatory-lenders-make-matters-worse/ Being poor is expensive. Between overdraft fees, ATM fees and credit card interest, big banks and predatory lenders are taking advantage of low-income Canadians. Recognizing that the pandemic is far from over and that its effects will remain lasting, advocacy organization the Association of Community Organizations for Reform Now (ACORN Canada) has produced a study […]]]>

Being poor is expensive. Between overdraft fees, ATM fees and credit card interest, big banks and predatory lenders are taking advantage of low-income Canadians.

Recognizing that the pandemic is far from over and that its effects will remain lasting, advocacy organization the Association of Community Organizations for Reform Now (ACORN Canada) has produced a study detailing how high-cost loans ( such as payday loans, installment loans, and title loans) exploit low-income Canadians at a time of record inflation and great global economic uncertainty.

ACORN compiled a survey between November 2021 and January 2022, gaining insight into the harms and consequences of predatory lending from 440 people who have experience taking out high interest loans. One in four people said they were pushed into predatory lenders because of pandemic-related financial hardship.

The 52-page report, a combination of data and testimonials, found that more than two years into the COVID-19 pandemic, “many people are not seeing their financial situation improve.” An overwhelming majority of participants “expressed concern” about pandemic-related benefits like the Canada Recovery Benefit (CRP) ending or being more exclusive.

The report outlines the many ways lenders exploit customer vulnerabilities, ranging from incompletely explaining the cost of borrowing to “offering loans under the guise of improving credit ratings or attaching insurance to ready to extract more silver”. ACORN concludes that banks are failing the same people who need their services the most, noting that the majority of customers who rely on payday loans were initially rejected by banking institutions. Not only are low-income people often denied bank loans, but they are also charged excessive insufficient funds (NSF) fees, averaging $45. This is in addition to late fees and hidden fees from predatory lenders.

The report also documented a worrying trend: while payday loans remain the most common type of high-cost loan, “installment loans continue to see an increase with an almost equal proportion of people reporting having taken an temperament”.

Installment loans seem attractive to borrowers because payments are spread over a longer period, but ACORN’s report suggests these loans also cause long-term financial pain for people trying to make ends meet.

Less than half of respondents, or 40%, said they had used high-interest loans “once or twice”, while one in four had taken out ten or more loans.

“It reveals the exploitative nature of high-cost lenders, because the goal is not to help people but to ensure that the person who took out a loan is trapped in a vicious circle of debt,” says the report. “The reasons people are forced to take out these loans are to meet basic expenses like rent, groceries, car repairs, etc.”

Part of ACORN Canada’s recommendations would see a fair credit benefit created by provincial or federal governments to help those in financial emergency, providing an alternative to predatory payday loans. The organization also wants the interest rate on installment loans to drop from 60% to 30%. This includes all fees, charges and insurance.

In 2017, more than 6 million Canadians were paying off installment loans of up to $15,000 with interest rates as high as 59.9% (the federal cap is 60%).

One of the report’s case studies documented the experience of Donna Borden, who borrowed $10,000 from CitiFinancial in 2003 after being denied a consolidation loan by her bank.

“After 7 years, Donna had paid $25,000 in interest and still owed $10,000,” the report said. “She was misled into getting $2,600 of insurance on a $10,000 loan and then also paid interest on the insurance. The lender also repeatedly changed the terms of Donna’s loan without telling her and charged her a number of refinance fees.

In 2019, ACORN sent a written submission to the House of Commons ahead of this year’s budget. Among their three recommendations are providing a $10-a-month internet plan to low-income Canadians, modernizing the employment insurance system, and making banking safer by ending predatory lending.

That report noted that nearly one in two Canadian workers live paycheck to paycheque, with millions of workers “at an unforeseen expense” far from “spiraling debt”.

Earlier this month, Nova Scotia’s Utility and Review Board (UARB) reduced the maximum cost of borrowing for payday loans in the province from $19 to $17 per $100. This amount will drop further to $15 per $100 on January 1, 2024. The new regulations, which are due to come into effect on September 1, will also see the maximum interest rate charged on outstanding default balances reduced to 30%. That’s still more than five percent higher interest than the average credit card company.

“Despite numerous comment letters claiming that the payday loan industry would be “shut down” in Nova Scotia or that the maximum cost of borrowing would be significantly reduced, the Commission remains aware that the federal and provincial governments have put in place legislation allowing lenders to offer payday loans to the public,” reads the UARB report.

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Eagle Bancorp, Inc. (NASDAQ:EGBN) raises dividend to $0.45 per share https://freedomtoons.org/eagle-bancorp-inc-nasdaqegbn-raises-dividend-to-0-45-per-share/ Sat, 18 Jun 2022 13:09:32 +0000 https://freedomtoons.org/eagle-bancorp-inc-nasdaqegbn-raises-dividend-to-0-45-per-share/ Eagle Bancorp, Inc. (NASDAQ:EGBN – Get Rating) declared a quarterly dividend on Thursday, June 16, Zacks reports. Shareholders of record on Monday July 11 will receive a dividend of 0.45 per share from the financial services provider on Friday July 29. This represents an annualized dividend of $1.80 and a dividend yield of 3.92%. The […]]]>

Eagle Bancorp, Inc. (NASDAQ:EGBN – Get Rating) declared a quarterly dividend on Thursday, June 16, Zacks reports. Shareholders of record on Monday July 11 will receive a dividend of 0.45 per share from the financial services provider on Friday July 29. This represents an annualized dividend of $1.80 and a dividend yield of 3.92%. The ex-dividend date is Friday, July 8. This is a boost from Eagle Bancorp’s previous quarterly dividend of $0.40.

Eagle Bancorp has a dividend payout ratio of 31.2%, indicating that its dividend is sufficiently covered by earnings. Research analysts expect Eagle Bancorp to earn $5.07 per share next year, meaning the company should continue to be able to cover its $1.60 annual dividend with a ratio expected future payout of 31.6%.

Shares of EGBN opened at $45.93 on Friday. Eagle Bancorp has a fifty-two week low of $44.85 and a fifty-two week high of $63.84. The company has a debt ratio of 0.05, a quick ratio of 0.80 and a current ratio of 0.80. The stock’s fifty-day moving average is $50.21 and its two-hundred-day moving average is $55.77. The company has a market capitalization of $1.47 billion, a P/E ratio of 8.23 ​​and a beta of 0.98.

Eagle Bancorp Inc (NASDAQ:EGBN – Get Rating) last released its quarterly results on Wednesday, April 20. The financial services provider reported earnings per share of $1.42 for the quarter, beating the consensus estimate of $1.06 by $0.36. The company posted revenue of $87.91 million for the quarter, versus a consensus estimate of $86.40 million. Eagle Bancorp had a net margin of 45.21% and a return on equity of 13.59%. During the same period last year, the company posted earnings per share of $1.36. On average, stock analysts expect Eagle Bancorp to post earnings per share of 4.98 for the current year.

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Several hedge funds and other institutional investors have recently changed their positions in the company. Jane Street Group LLC increased its position in Eagle Bancorp shares by 190.6% during the first quarter. Jane Street Group LLC now owns 11,685 shares of the financial services provider worth $666,000 after purchasing an additional 7,664 shares during the period. Goldman Sachs Group Inc. increased its position in Eagle Bancorp shares by 23.1% during the first quarter. Goldman Sachs Group Inc. now owns 62,505 shares of the financial services provider worth $3,564,000 after purchasing an additional 11,728 shares during the period. Captrust Financial Advisors increased its position in Eagle Bancorp shares by 74.6% during the first quarter. Captrust Financial Advisors now owns 2,353 shares of the financial services provider worth $134,000 after purchasing an additional 1,005 shares during the period. State Street Corp increased its position in Eagle Bancorp shares by 9.7% in the first quarter. State Street Corp now owns 1,368,799 shares of the financial services provider worth $78,035,000 after purchasing an additional 120,501 shares during the period. Finally, Invesco Ltd. increased its position in Eagle Bancorp shares by 95.6% during the 1st quarter. Invesco Ltd. now owns 304,792 shares of the financial services provider worth $17,376,000 after purchasing an additional 148,941 shares during the period. Institutional investors and hedge funds own 73.83% of the company’s shares.

Separately, StockNews.com launched coverage on Eagle Bancorp in a research report on Thursday, March 31. They have set a “holding” rating on the stock.

About Eagle Bancorp (Get a rating)

Eagle Bancorp, Inc operates as a bank holding company for EagleBank which provides commercial and consumer banking services primarily in the United States. The Company also offers various consumer and commercial loan products including commercial loans for working capital, equipment purchase, home equity lines of credit and government contract financing; asset-based lending and accounts receivable financing; construction loans and commercial real estate; commercial equipment financing; consumer home equity lines of credit, personal lines of credit and term loans; consumer installment loans, such as car and personal loans; personal credit cards; and residential mortgages.

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Dividend history for Eagle Bancorp (NASDAQ:EGBN)

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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Most popular options for shopping https://freedomtoons.org/most-popular-options-for-shopping/ Thu, 16 Jun 2022 20:45:39 +0000 https://freedomtoons.org/most-popular-options-for-shopping/ Consumers looking to purchase everything from travel to MacBooks to the latest and greatest in fashionable jeans have the ability to finance the cost of their purchase over time with buy now, pay later. BNPL allows consumers to purchase items online or in-store, and spread the cost over a few weeks or months. There are […]]]>

Consumers looking to purchase everything from travel to MacBooks to the latest and greatest in fashionable jeans have the ability to finance the cost of their purchase over time with buy now, pay later.

BNPL allows consumers to purchase items online or in-store, and spread the cost over a few weeks or months.

There are many BNPL providers, including Affirm, Afterpay, Zip, PayPal’s ‘Pay in 4’, Klarna and Sezzle.

New options are being introduced all the time, with Apple jumping into the BPNL game in early June and PayPal announcing in mid-June that it was adding options for longer-term installment loans for higher cost purchases not currently covered. through its Pay-in-4 product.

BUY NOW, PAY LATER: Popular with consumers, but should users worry about high debt?

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Bank of Hawaii (NYSE:BOH) hits new 12-month low at $72.99 https://freedomtoons.org/bank-of-hawaii-nyseboh-hits-new-12-month-low-at-72-99/ Tue, 14 Jun 2022 20:11:27 +0000 https://freedomtoons.org/bank-of-hawaii-nyseboh-hits-new-12-month-low-at-72-99/ Bank of Hawaii Co. (NYSE:BOH – Get Rating) stock price hit a new 52-week low on Tuesday. The stock traded as low as $72.99 and last traded at $72.99, with a volume of 5286 shares traded in hands. The stock had previously closed at $73.79. Separately, StockNews.com upgraded the Bank of Hawaii from a “hold” […]]]>

Bank of Hawaii Co. (NYSE:BOH – Get Rating) stock price hit a new 52-week low on Tuesday. The stock traded as low as $72.99 and last traded at $72.99, with a volume of 5286 shares traded in hands. The stock had previously closed at $73.79.

Separately, StockNews.com upgraded the Bank of Hawaii from a “hold” rating to a “sell” rating in a Monday, May 23 report.

The stock has a market capitalization of $2.94 billion, a P/E ratio of 12.16, a PEG ratio of 1.69 and a beta of 1.15. The company has a 50-day simple moving average of $77.48 and a 200-day simple moving average of $82.55.

Bank of Hawaii (NYSE:BOH – Get Rating) last released its results on Monday, April 25. The bank reported EPS of $1.32 for the quarter, beating the consensus estimate of $1.22 by $0.10. Bank of Hawaii had a return on equity of 17.99% and a net margin of 35.44%. The company posted revenue of $168.81 million for the quarter, compared to $169.30 million expected by analysts. In the same quarter a year earlier, the company posted EPS of $1.50. As a group, research analysts expect Bank of Hawaii Co. to post earnings per share of 5.55 for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 14. Shareholders of record on Tuesday, May 31 will receive a dividend of $0.70 per share. This represents a dividend of $2.80 on an annualized basis and a dividend yield of 3.83%. The ex-dividend date is Friday, May 27. Bank of Hawaii’s dividend payout ratio is currently 46.13%.

Separately, CEO Peter S. Ho sold 5,500 shares of the company in a trade that took place on Tuesday, May 10. The stock was sold at an average price of $74.51, for a total transaction of $409,805.00. As a result of the transaction, the CEO now directly owns 244,681 shares of the company, valued at approximately $18,231,181.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, accessible via this hyperlink. Company insiders hold 2.06% of the company’s shares.

Hedge funds and other institutional investors have recently changed their stakes in the company. Walleye Capital LLC purchased a new stake in Bank of Hawaii stock during Q1 for $209,000. BNP Paribas Arbitrage SA increased its position in Bank of Hawaii shares by 29.8% in the 1st quarter. BNP Paribas Arbitrage SA now owns 20,726 shares in the bank valued at $1,739,000 after acquiring an additional 4,764 shares during the period. Point72 Hong Kong Ltd increased its position in Bank of Hawaii shares by 27.9% during the 1st quarter. Point72 Hong Kong Ltd now owns 710 shares of the bank valued at $60,000 after acquiring an additional 155 shares during the period. First Republic Investment Management Inc. raised its position in Bank of Hawaii shares by 2.5% in the first quarter. First Republic Investment Management Inc. now owns 116,588 shares of the bank valued at $9,784,000 after acquiring 2,843 additional shares during the period. Finally, Guggenheim Capital LLC acquired during the 1st quarter a new equity stake in Bank of Hawaii valued at $654,000. 71.07% of the shares are currently held by hedge funds and other institutional investors.

About Bank of Hawaii (NYSE: BOH)

Bank of Hawaii Corporation operates as a bank holding company for Bank of Hawaii which provides various financial products and services in Hawaii, Guam and other Pacific Islands. It operates in three segments: Consumer Banking, Commercial Banking and Treasury and Others. The Consumer Banking segment offers checking, savings and term deposit accounts; residential mortgages, home equity lines of credit, auto loans and leases, personal lines of credit, installment loans, small business loans and leases, and credit cards; banking, investment, credit and trust services to private and international clients to individuals and families, and high net worth individuals; investment management; institutional investment advisory services to corporations, government entities and foundations; and brokerage offerings, including stocks, mutual funds, life insurance and annuity products.

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Banco de Chile (NYSE:BCH) sees a significant increase in short-term interest https://freedomtoons.org/banco-de-chile-nysebch-sees-a-significant-increase-in-short-term-interest/ Mon, 13 Jun 2022 03:22:30 +0000 https://freedomtoons.org/banco-de-chile-nysebch-sees-a-significant-increase-in-short-term-interest/ Banco de Chile (NYSE:BCH – Get Rating) was the target of a sharp increase in short-term interest during the month of May. As of May 31, there was short interest totaling 1,220,000 shares, an increase of 100.2% from the May 15 total of 609,500 shares. Based on an average daily trading volume of 143,100 shares, […]]]>

Banco de Chile (NYSE:BCH – Get Rating) was the target of a sharp increase in short-term interest during the month of May. As of May 31, there was short interest totaling 1,220,000 shares, an increase of 100.2% from the May 15 total of 609,500 shares. Based on an average daily trading volume of 143,100 shares, the days-to-cover ratio is currently 8.5 days.

A number of equity research analysts have recently commented on BCH shares. Scotiabank upgraded Banco de Chile from an “sector performance” rating to an “outperform” rating in a Wednesday, April 13 research note. Credit Suisse Group upgraded Banco de Chile from a “neutral” rating to an “outperforming” rating and raised its price target for the company from $18.00 to $25.00 in a Wednesday, March 2 report. StockNews.com picked up Banco de Chile’s coverage in a Thursday, March 31 research note. They issued a “hold” rating on the stock. JPMorgan Chase & Co. downgraded Banco de Chile from an “overweight” rating to a “neutral” rating and set a target price of $23.00 for the stock. in a research note on Thursday, February 17. Finally, Banco Santander upgraded Banco de Chile to a “buy” rating and set a target price of $25.00 on the stock in a Friday, May 20 research note. Four equity research analysts gave the stock a hold rating and four gave the company a buy rating. According to data from MarketBeat, Banco de Chile has an average rating of “Buy” and a consensus price target of $23.67.

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Major investors have recently increased or reduced their stakes in the company. Ethic Inc. acquired a new stake in Banco de Chile in Q1 worth approximately $297,000. UBS Group AG increased its equity stake in Banco de Chile by 70.6% during the first quarter. UBS Group AG now owns 16,679 shares of the bank valued at $358,000 after purchasing an additional 6,904 shares during the period. Dimensional Fund Advisors LP increased its holdings in Banco de Chile by 1.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 597,813 shares of the bank worth $12,795,000 after purchasing an additional 7,462 shares in the last quarter. Banco BTG Pactual SA acquired a new stake in Banco de Chile during the 1st quarter for a value of approximately $3,268,000. Finally, Crossmark Global Holdings Inc. increased its position in Banco de Chile shares by 2.6% in the 1st quarter. Crossmark Global Holdings Inc. now owns 24,372 shares of the bank worth $522,000 after acquiring 612 additional shares in the last quarter. Hedge funds and other institutional investors own 0.89% of the company’s shares.

NYSE:BCH shares opened at $19.45 on Monday. Banco de Chile has a 1-year low of $15.60 and a 1-year high of $22.74. The company has a debt ratio of 3.12, a current ratio of 1.53 and a quick ratio of 1.53. The company’s 50-day moving average price is $20.53 and its 200-day moving average price is $19.84. The company has a market capitalization of $9.82 billion, a price-to-earnings ratio of 6.97, a growth price-to-earnings ratio of 0.83 and a beta of 0.31.

Banco de Chile (NYSE:BCH – Get Rating) last released its quarterly earnings data on Friday, April 29. The bank reported earnings per share (EPS) of $0.69 for the quarter, beating the consensus estimate of $0.60 by $0.09. Banco de Chile had a net margin of 40.44% and a return on equity of 26.29%. The company posted revenue of $560.31 million for the quarter, versus analyst estimates of $742.05 million. On average, sell-side analysts expect Banco de Chile to post earnings per share of 2.31 for the current year.

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, Wholesale and Treasury 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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New iPhone Buy Now Pay Later button in iOS 16 takes on Affirm and Amazon: How it works https://freedomtoons.org/new-iphone-buy-now-pay-later-button-in-ios-16-takes-on-affirm-and-amazon-how-it-works/ Sat, 11 Jun 2022 11:15:06 +0000 https://freedomtoons.org/new-iphone-buy-now-pay-later-button-in-ios-16-takes-on-affirm-and-amazon-how-it-works/ This story is part WWDC 2022CNET’s full coverage from and about Apple’s annual developer conference. What is happening Apple has announced a new free funding feature in Apple Wallet that lets you pay for your purchases for free over time. why is it important As inflation continues to impact households, “buy now, pay later” services […]]]>

This story is part WWDC 2022CNET’s full coverage from and about Apple’s annual developer conference.

What is happening

Apple has announced a new free funding feature in Apple Wallet that lets you pay for your purchases for free over time.

why is it important

As inflation continues to impact households, “buy now, pay later” services have become a popular payment option, and Apple’s entry will likely become a major player.

And after

Apple Pay Later will launch with the release of iOS 16, scheduled for September 2022.

Short-term installment loans called “Buy now, pay later” The services offer consumers an easy way to repay their purchases over time, usually without fees or interest. At this week Worldwide Developers ConferenceApple has announced its own buy now, pay later product, Apple Pay Later, which will officially launch with the release of the new iOS 16 for iPhone in September. As a new feature in Apple Wallet, Apple Pay Later will allow you to split the cost of certain goods and services into four payments over six weeks at no cost.

Apple Wallet is the iPhone’s digital wallet application that provides three main services: Apple Pay, Apple Card and Apple Cash. Apple Pay lets you store debit and credit cards and make purchases online or at businesses; Apple Card is a credit account issued by MasterCard and Goldman Sachs that works like a standard digital credit card; and Apple Cash enables peer-to-peer payments.

Apple’s foray into free funding comes at a time when many retailers are accepting payments from BNPL apps such as Affirm, Klarna or Afterpay. Most of these apps offer similar short-term interest-free payment plans, while others also offer longer installment plans with variable interest rates.

We’ll share everything there is to know about Apple Pay later in this article, including how it will work, where it will be accepted, and when it will be available. Apple unveiled Pay Later and iOS 16 alongside new versions of his MacBook and iPad. Here is everything Apple announced at WWDC.

How does Apple Pay Later work?

Apple Pay Later lets you split the cost of purchases into four equal payments spread over six weeks. The first payment is due when you make your purchase, and the remaining payments are due every two weeks thereafter.

Once Apple Pay Later is released, you’ll have two options when completing a purchase: Pay in Full and Pay Later. Selecting the latter option will bring up a payment schedule showing the amount of each of the four payments and the date they are due.

According to Corey Fugman, Senior Director of Wallet and Apple Pay, who spoke about Wallet during the WWDC keynote, Apple Pay Later will be available “wherever Apple Pay is accepted, in apps or online,” indicating that the service may not be available for purchases made in physical stores.

Stores and merchants won’t have to implement changes to accept payments through Apple Pay Later. Transactions will occur as before – the only difference will be how back-end payments are made.

MasterCard Payouts — the credit card company’s white-label BNPL service — will provide merchant payments for Apple Pay Later. Apple and banking partner Goldman Sachs launched plans for Apple Pay Later in July last year, according to Bloomberg.

When can I use Apple Pay Later on my iPhone?

Apple Pay Later will be included with iOS 16, Apple’s next scheduled operating system update for iPhone. The iOS 16 beta is already available for developers who have an account. In the WWDC keynote, Apple said the first public beta of iOS 16 will be released in July.

Apple has traditionally released its latest operating systems to the public alongside its latest phones, as it did with iPhone 13 and iOS 15 in September last year. iPhone 14 is expected to be released in September this year, and iOS 16 is likely to be released around the same time as well.

How is Apple Pay Later different from Apple Card monthly payments?

Apple Card Monthly Payments is an Apple program that allows you to finance the purchase of certain Apple products while using the Apple Card credit card. The length of the 0% APR period for these purchases depends on the product. Installment plans range from six months to two years.

Apple Pay Later is not limited to Apple products nor does it require the use of Apple Card. With Apple Pay Later, you’ll be able to fund purchases using a debit card, Apple said, as long as it’s connected to Apple Wallet. Additionally, the interest-free installment period for Apple Pay Later – six weeks – is much shorter than the payment plans offered by Apple Card monthly installments.

What else is new in Apple Wallet for iPhone?

Another new Apple Wallet feature announced at WWDC is Apple Pay order tracking, which allows merchants to provide customers with detailed receipts and delivery statuses for products purchased through Apple Wallet.

Apple also announced expanded support in Apple Wallet for driver’s license and identity cards. Next Colorado and Arizona IDsApple Wallet plans to add support for 11 more states in the near future.

These driving licenses can be used at certain Transport Security Agency checkpoints. They can also be shared with other apps that require identification, such as alcohol purchases through Uber Eats.

Apple Wallet is also adding key sharing support for locations like hotels, offices, or automobiles. New features will allow users to share keys with friends or associates using email, text messaging or other messaging apps.

Like Apple Pay Later, Apple Pay order tracking, driver’s license and key sharing features will be made available to the public with the full release of iOS 16, due September 2022.

What other online services allow you to buy now and pay later?

Some existing online payment systems offer short-term “buy now, pay later” financing similar to what Apple Pay Later offers. PayPal’s Pay in 4 program works very much like Apple Pay Later, except purchases are limited between $300 and $1,500.

The BNPL Sezzle app also uses a six-week, four-payment system, but allows users to defer one payment up to two weeks later at no cost and to defer other payments for an additional fee.

Other BNPL apps such as Affirm and Klarna offer interest-free installment plans for short periods or longer installment plans that add a variable interest rate.

For more WWDC coverage, read more about the macOS Ventura coming soonNew fitness and workout features for the Apple Watch and all the new features announced for Apple Maps.

Editorial content on this page is based solely on objective, independent assessments by our editors and is not influenced by advertising or partnerships. It was not supplied or commissioned by a third party. However, we may receive compensation when you click on links to products or services offered by our partners.

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