Media Marketing – Saar New Media http://saar-new-media.com/ Sat, 24 Sep 2022 14:54:16 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://saar-new-media.com/wp-content/uploads/2021/07/icon-6-150x150.png Media Marketing – Saar New Media http://saar-new-media.com/ 32 32 Personal finance: As “buy now, pay later” plans grow, so do delinquencies https://saar-new-media.com/personal-finance-as-buy-now-pay-later-plans-grow-so-do-delinquencies/ Sat, 24 Sep 2022 14:54:16 +0000 https://saar-new-media.com/personal-finance-as-buy-now-pay-later-plans-grow-so-do-delinquencies/ Americans have become fond of “buy now, pay later” services, but the “pay later” part is becoming increasingly difficult for some borrowers. Buy now, pay later loans allow users to pay for items such as new sneakers, electronics, or luxury goods in installments. Companies such as Affirm, Afterpay, Klarna, and PayPal have created popular financial […]]]>

Americans have become fond of “buy now, pay later” services, but the “pay later” part is becoming increasingly difficult for some borrowers.

Buy now, pay later loans allow users to pay for items such as new sneakers, electronics, or luxury goods in installments. Companies such as Affirm, Afterpay, Klarna, and PayPal have created popular financial products around these short-term loans, especially for young borrowers who fear endless credit card debt.

Now, as the industry accumulates customers, chargebacks are on the rise. Inflation squeezes consumers, making it harder to pay off debt. Some borrowers do not budget properly, especially if persuaded to take out multiple loans, while others may have been credit risks to begin with.

“You have an industry with a higher concentration of subprime borrowers in a market that hasn’t been effectively tested (that kind of economy), and you have a kind of toxic brew of worries,” Michael Taiano said. , an analyst at Fitch Ratings, who co-authored a report in July highlighting some of the industry’s concerns.

The most popular type of buy now, pay later loan allows for four payments over six weeks – one payment at the time of purchase and three more that borrowers often try to synchronize with pay periods. Longer term loans for larger purchases are also available. Most short-term loans bear no interest. Companies that charge interest can clearly state in advance how much a borrower will pay in finance charges.

Given these characteristics, consumer advocates and financial advisors initially saw buy now, pay later plans as a potentially healthier form of consumer debt if used correctly. The main concern was late fees, which could be a heavy financial burden on a small purchase if a borrower was late on a payment. Fees can reach $34, plus interest. But now that chargebacks are on the rise and companies are more aggressive in marketing their products, advocates see the need for additional regulation.

The industry is growing rapidly, according to a report by the Consumer Financial Protection Bureau. Americans took out about $24.2 billion in loans under buy-it-now, pay-later programs in 2021, up from just $2 billion in 2019. That industry-wide figure is not expected than climb even more. Klarna customers purchased $41 billion worth of products on its service globally in the first six months of the year, up 21% from a year ago. At PayPal, revenue from its “buy now, pay later” services more than tripled in the second quarter to $4.9 billion.

Technology analyst Jasmine Francis, 29, said she first used a buy now, pay later service in 2018 to buy clothes from fast fashion brand Forever21.

“I remember I just got a cart,” she said. “At first I thought, ‘Something has to go back’, then I saw Afterpay at checkout – you don’t pay for everything right now, but you get it right away. It was from music to my ears.

It is unclear to what extent clients are using buy now, pay later loans healthily. Fitch found that chargebacks on these services rose sharply in the 12 months ended March 31, while chargebacks on credit cards remained flat. And according to the CFPB, a growing percentage of the loans the industry makes are being written off — or loans it considered so delinquent they were likely uncollectible. The industry charge rate was 2.39% in 2021, a figure that is now likely higher given the economic turmoil this year. In 2020, this figure was 1.83%.

“This upward trend in delinquencies continues,” CFPB director Rohit Chopra said on a call with reporters.

Credit reporting company TransUnion found that buy now, pay later borrowers are using the product just as much as credit cards, racking up debt on top of additional debt. A Morning Consult poll released this week found that 15% of buy now, pay later customers use the service for routine purchases, such as groceries and gas, a pattern of behavior that is ringing alarm bells at home. financial advisers. The CFPB report also found that a small but growing number of Americans also use these products for routine purchases.

“If these buy now, pay later plans aren’t budgeted properly, they can have a cascading impact on a person’s entire financial life,” said André Jean-Pierre, a former Morgan Stanley wealth adviser who now runs his own financial planning company focused on helping black Americans save and budget properly.

Another concern of consumer advisors and advocates, as well as lawmakers and regulators in Washington, is the ease with which consumers can layer on these installment loans.

Speaking at a Senate Banking Committee hearing on new financial products, Sen. Sherrod Brown, D-Ohio, highlighted the benefits of plans that allow consumers to pay for things in installments. But he also criticized the way the industry promotes the plans.

“The ads encourage consumers to use these bundles for multiple purchases, across multiple online stores, racking up debt they can’t afford to repay,” Brown said.

Short-term loans are potentially problematic because they are not reported on a consumer’s credit profile with Transunion and Experian. Additionally, buy now, pay later, industry customers are young, which means they have little credit history. In theory, a borrower could take out multiple short-term loans across multiple buy-now, pay-later businesses — a practice known as “loan stacking” — and they would never show up on a credit report. If a person puts in too many buy now, pay later items, budgeting can be difficult.

“It’s a blind spot for the industry,” Fitch’s Taiano said.

In a statement, the industry trade group “buy now, pay later” pushed back on the characterization that its products could burden borrowers with too much debt.

“With zero to low interest rates, flexible payment terms and transparent terms and conditions, BNPL helps consumers manage their cash responsibly and live healthier financial lives,” said Penny Lee, CEO of the Financial Technology Association.

Meanwhile, providers of buy-it-pay-later services see rising chargebacks as a natural consequence of growth, but also an indication that inflation is hitting the Americans most likely to use these services the most. harder.

“We’ve seen some stress (among those with the lowest credit scores), and those are starting to struggle,” said Max Levchin, founder and CEO of Affirm, one of the largest businesses that buy now, pay later.

“I wouldn’t call it some sort of preamble to a potential slowdown, but it’s not the same kind of smooth sailing,” he said, adding that Affirm is taking a more conservative approach to loans.

Buy now, pay later took off in the United States after the Great Recession. Analysts said the product was largely untested during a large period of financial hardship, unlike mortgages, credit cards or car loans.

Despite these concerns, the consensus is buy now, pay later, companies are here to stay. Affirm, Klarna, Afterpay, which is owned by Block Inc., as well as PayPal and others are now widely integrated into internet commerce.

Moreover, the growth of the industry attracts more and more players. Tech titan Apple announced earlier this summer Apple Pay Later, where users can make purchases on a four-payment plan over six weeks.

“I usually schedule the purchases I make using PayPal ‘Pay in 4’ so that my due dates for purchases land on my payment dates because due dates are every two weeks,” said said Desiree Moore, 35.

Moore said she tries to use buy-it-now, pay-later plans to cover purchases that aren’t part of her usual monthly budget, so as not to take money away from her children’s needs. She is increasingly using the plans with inflation making items more expensive and so far able to keep up with the payments.

Francis, the technical analyst, said it is now common for his friends to pay for trips with installment loans, so as not to completely empty their bank accounts in an emergency.

“If I come back from vacation and I have two flat tires, and I just spent all that money on plane tickets, that’s $400 that you don’t have right now,” he said. she stated. “Most people don’t have savings. They’ve got just enough for those flat tires.

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Eagle Bancorp, Inc. (NASDAQ:EGBN) Declares Quarterly Dividend of $0.45 https://saar-new-media.com/eagle-bancorp-inc-nasdaqegbn-declares-quarterly-dividend-of-0-45/ Thu, 22 Sep 2022 13:26:31 +0000 https://saar-new-media.com/eagle-bancorp-inc-nasdaqegbn-declares-quarterly-dividend-of-0-45/ Eagle Bancorp, Inc. (NASDAQ: EGBN- Get a rating) announced a quarterly dividend on Tuesday, September 20, Zacks reports. Shareholders of record on Monday, October 10 will receive a dividend of 0.45 per share from the financial services provider on Monday, October 31. This represents an annualized dividend of $1.80 and a yield of 3.82%. The […]]]>

Eagle Bancorp, Inc. (NASDAQ: EGBN- Get a rating) announced a quarterly dividend on Tuesday, September 20, Zacks reports. Shareholders of record on Monday, October 10 will receive a dividend of 0.45 per share from the financial services provider on Monday, October 31. This represents an annualized dividend of $1.80 and a yield of 3.82%. The ex-date of this dividend is Thursday, October 6.

Eagle Bancorp has a payout ratio of 36.1%, indicating that its dividend is sufficiently covered by earnings. Equity research analysts expect Eagle Bancorp to earn $5.05 per share next year, meaning the company should continue to be able to cover its $1.80 annual dividend. with an expected future payout ratio of 35.6%.

Eagle Bancorp is trading down 0.9%

Eagle Bancorp shares opened at $47.12 on Thursday. Eagle Bancorp has a 12-month low of $44.85 and a 12-month high of $63.84. The company’s fifty-day simple moving average is $48.22 and its two-hundred-day simple moving average is $50.51. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt ratio of 0.06. The company has a market capitalization of $1.51 billion, a price-earnings ratio of 9.70 and a beta of 0.92.

Eagle Bancorp (NASDAQ:EGBN – Get a rating) last released its quarterly results on Wednesday, July 20. The financial services provider reported earnings per share of $0.78 for the quarter, missing the consensus estimate of $1.15 per ($0.37). Eagle Bancorp had a return on equity of 13.01% and a net margin of 39.92%. The company posted revenue of $88.48 million in the quarter, compared to analysts’ expectations of $91.00 million. In the same quarter of the previous year, the company achieved EPS of $1.50. As a group, equity analysts predict Eagle Bancorp will post earnings per share of 4.97 for the current fiscal year.

Eagle Bancorp Institutional Negotiation

A number of hedge funds have recently bought and sold shares of the company. Legal & General Group Plc increased its position in Eagle Bancorp by 2.3% during the second quarter. Legal & General Group Plc now owns 92,779 shares of the financial services provider valued at $4,398,000 after acquiring 2,061 additional shares in the last quarter. Goldman Sachs Group Inc. increased its position in Eagle Bancorp by 178.6% during the second quarter. Goldman Sachs Group Inc. now owns 174,169 shares of the financial services provider valued at $8,257,000 after acquiring an additional 111,664 shares in the last quarter. Thrivent Financial for Lutherans increased its position in Eagle Bancorp by 50.6% during the second quarter. Thrivent Financial for Lutherans now owns 39,172 shares of the financial services provider valued at $1,857,000 after acquiring an additional 13,165 shares in the last quarter. Price T Rowe Associates Inc. ® increased its position in Eagle Bancorp by 1.2% during the second quarter. Price T Rowe Associates Inc. MD now owns 19,864 shares of the financial services provider valued at $942,000 after acquiring 230 additional shares in the last quarter. Finally, AQR Capital Management LLC increased its position in Eagle Bancorp by 114.7% during the second quarter. AQR Capital Management LLC now owns 54,849 shares of the financial services provider valued at $2,600,000 after acquiring an additional 29,307 shares in the last quarter. Hedge funds and other institutional investors own 73.95% of the company’s shares.

Wall Street analysts predict growth

Separately, StockNews.com upgraded Eagle Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday.

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 commercial and consumer lending 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.

Featured articles

Dividend history for Eagle Bancorp (NASDAQ:EGBN)

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Dividend announcement EGBN $0.4500/share 09/20/2022 https://saar-new-media.com/dividend-announcement-egbn-0-4500-share-09-20-2022/ Wed, 21 Sep 2022 00:26:38 +0000 https://saar-new-media.com/dividend-announcement-egbn-0-4500-share-09-20-2022/ Eagle Bancorp Inc (MD) (NASDAQ:EGBN) declared on 09/20/2022 a dividend of $0.4500 per share payable October 31, 2022 to shareholders of record as of October 10, 2022. Eagle Bancorp Inc (MD) (NASDAQ: EGBN) has paid dividends since 2005, has a current dividend yield of 3.8079118729% and has increased dividends for 2 consecutive years. The market […]]]>

Eagle Bancorp Inc (MD) (NASDAQ:EGBN) declared on 09/20/2022 a dividend of $0.4500 per share payable October 31, 2022 to shareholders of record as of October 10, 2022.

Eagle Bancorp Inc (MD) (NASDAQ: EGBN) has paid dividends since 2005, has a current dividend yield of 3.8079118729% and has increased dividends for 2 consecutive years.

The market capitalization of Eagle Bancorp Inc (MD) is $1,516,657,950 and has a PE ratio of 10.34. The stock price closed yesterday at $47.27 and has a 52-week low/high of $44.85 and $63.84.

Eagle Bancorp is a bank holding company. Through its subsidiary, Eaglebank (the Bank), Co. is engaged in community banking primarily in northern Virginia, suburban Maryland and Washington, DC. The Bank provides commercial banking services to its businesses and customers, as well as retail banking services. living and/or working primarily in the Bank’s market area. These services include commercial loans; asset-based lending and accounts receivable financing; construction loans and commercial real estate; commercial equipment financing; home equity lines of credit, personal lines of credit and term loans; consumer installment loans; and residential mortgages.

For more information on Eagle Bancorp Inc (MD), click here.

Current dividend information for Eagle Bancorp Inc (MD) as of the date of this press release is:

Dividend declaration date: September 20, 2022
Ex-dividend date: October 6, 2022
Dividend record date: October 10, 2022
Dividend payment date: October 31, 2022
Dividend amount: $0.4500

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Eagle Bancorp, Inc. (NASDAQ:EGBN) Brief Interest Update https://saar-new-media.com/eagle-bancorp-inc-nasdaqegbn-brief-interest-update/ Sun, 18 Sep 2022 22:55:34 +0000 https://saar-new-media.com/eagle-bancorp-inc-nasdaqegbn-brief-interest-update/ Eagle Bancorp, Inc. (NASDAQ: EGBN – Get a rating) benefited from a significant drop in short-term interest rates in August. As of August 31, there was short interest totaling 763,600 shares, down 15.1% from the total of 899,500 shares as of August 15. Approximately 2.4% of the company’s shares are sold short. Based on an […]]]>

Eagle Bancorp, Inc. (NASDAQ: EGBN – Get a rating) benefited from a significant drop in short-term interest rates in August. As of August 31, there was short interest totaling 763,600 shares, down 15.1% from the total of 899,500 shares as of August 15. Approximately 2.4% of the company’s shares are sold short. Based on an average daily volume of 171,600 shares, the day-to-cover ratio is currently 4.4 days.

Institutional entries and exits

Major investors have recently changed their stake in the company. Teacher Retirement System of Texas increased its stake in Eagle Bancorp by 18.4% in Q4. Teacher Retirement System of Texas now owns 6,087 shares of the financial services provider valued at $355,000 after buying 946 additional shares in the last quarter. Citigroup Inc. increased its holdings of Eagle Bancorp shares by 38.5% during the fourth quarter. Citigroup Inc. now owns 26,506 shares of the financial services provider worth $1,547,000 after purchasing an additional 7,369 shares during the period. Qube Research & Technologies Ltd bought a new stake in shares of Eagle Bancorp in the fourth quarter worth $1,521,000. JPMorgan Chase & Co. raised its position in Eagle Bancorp by 60.6% in the fourth quarter. JPMorgan Chase & Co. now owns 158,591 shares of the financial services provider worth $9,252,000 after buying an additional 59,870 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Eagle Bancorp by 1.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 280,614 shares of the financial services provider worth $16,372,000 after buying 3,917 additional shares during the period. 73.95% of the shares are currently held by institutional investors.

A Wall Street analyst gives his opinion

Separately, StockNews.com upgraded Eagle Bancorp from a “sell” rating to a “hold” rating in a Friday, September 9 research note.

Eagle Bancorp Price Performance

Eagle Bancorp shares were down $0.17 on Friday, hitting $46.79. 337,702 shares were traded, against an average volume of 115,077. The company’s 50-day moving average is $48.18 and its 200-day moving average is $50.70. The company has a market capitalization of $1.50 billion, a PE ratio of 9.63 and a beta of 0.92. The company has a debt ratio of 0.06, a quick ratio of 0.79 and a current ratio of 0.79. Eagle Bancorp has a one-year low of $44.85 and a one-year high of $63.84.

Eagle Bancorp (NASDAQ:EGBN – Get a rating) last reported quarterly earnings data on Wednesday, July 20. The financial services provider reported earnings per share of $0.78 for the quarter, missing the consensus estimate of $1.15 per ($0.37). Eagle Bancorp had a return on equity of 13.01% and a net margin of 39.92%. The company posted revenue of $88.48 million for the quarter, versus a consensus estimate of $91.00 million. In the same quarter of the previous year, the company had earned earnings per share of $1.50. As a group, analysts expect Eagle Bancorp to post 4.97 EPS for the current fiscal year.

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 commercial and consumer lending 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.

Featured articles

This instant news alert was powered by MarketBeat’s storytelling 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 Eagle Bancorp, you’ll want to hear this.

MarketBeat tracks Wall Street’s top-rated, top-performing research analysts daily and the stocks they recommend to their clients. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market takes off…and Eagle Bancorp was not on the list.

While Eagle Bancorp 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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Washington Trust Bancorp, Inc. Announces Quarterly Dividend of $0.54 (NASDAQ: WASH) https://saar-new-media.com/washington-trust-bancorp-inc-announces-quarterly-dividend-of-0-54-nasdaq-wash/ Fri, 16 Sep 2022 22:24:48 +0000 https://saar-new-media.com/washington-trust-bancorp-inc-announces-quarterly-dividend-of-0-54-nasdaq-wash/ Washington Trust Bancorp, Inc. (NASDAQ:WASH – Get a rating) announced a quarterly dividend on Friday, September 16, the wall street journal reports. Shareholders of record on Monday October 3 will receive a dividend of 0.54 per share from the financial services provider on Friday October 7. This represents an annualized dividend of $2.16 and a […]]]>

Washington Trust Bancorp, Inc. (NASDAQ:WASH – Get a rating) announced a quarterly dividend on Friday, September 16, the wall street journal reports. Shareholders of record on Monday October 3 will receive a dividend of 0.54 per share from the financial services provider on Friday October 7. This represents an annualized dividend of $2.16 and a yield of 4.32%. The ex-date of this dividend is Friday, September 30.

Washington Trust Bancorp has increased its dividend payout by an average of 6.1% per year over the past three years and has increased its dividend annually for the past 11 consecutive years. Washington Trust Bancorp has a payout ratio of 49.2%, which means its dividend is sufficiently covered by earnings. Analysts expect Washington Trust Bancorp to earn $4.53 per share next year, meaning the company should continue to be able to cover its $2.16 annual dividend with a payout ratio. expected future of 47.7%.

Performance of Washington Trust Bancorp shares

Shares of WASH traded at $0.56 on Friday, hitting $50.02. The stock had trading volume of 232,383 shares, compared to an average volume of 57,184. Washington Trust Bancorp has a 1-year low of $45.60 and a 1-year high of $60.96. The company has a 50-day simple moving average of $51.72 and a 200-day simple moving average of $50.62. The stock has a market capitalization of $858.89 million, a P/E ratio of 11.50 and a beta of 0.78. The company has a debt ratio of 0.74, a quick ratio of 0.91 and a current ratio of 0.91.

Washington Trust Bancorp (NASDAQ: WASH – Get a rating) last released its quarterly results on Monday, July 25. The financial services provider reported EPS of $1.14 for the quarter, beating consensus analyst estimates of $0.91 by $0.23. Washington Trust Bancorp had a return on equity of 14.28% and a net margin of 31.97%. In the same quarter of the previous year, the company achieved EPS of $1.00. Equity research analysts expect Washington Trust Bancorp to post EPS of 4.19 for the current year.

Washington Trust Bancorp Institutional Trading

Hedge funds and other institutional investors have recently changed their positions in the company. Captrust Financial Advisors increased its stake in Washington Trust Bancorp by 16,450.0% during the second quarter. Captrust Financial Advisors now owns 662 shares of the financial services provider worth $32,000 after buying an additional 658 shares during the period. Legal & General Group Plc increased its position in Washington Trust Bancorp by 1.7% in the second quarter. Legal & General Group Plc now owns 15,302 shares of the financial services provider valued at $740,000 after acquiring an additional 254 shares last quarter. Goldman Sachs Group Inc. increased its position in Washington Trust Bancorp shares by 32.6% in the second quarter. Goldman Sachs Group Inc. now owns 29,876 shares of the financial services provider valued at $1,445,000 after purchasing an additional 7,338 shares during the period. First Republic Investment Management Inc. increased its stake in Washington Trust Bancorp by 6.9% during the second quarter. First Republic Investment Management Inc. now owns 11,497 shares of the financial services provider worth $556,000 after buying an additional 744 shares last quarter. Finally, Price T Rowe Associates Inc. ® increased its holding in shares of Washington Trust Bancorp by 4.0% during the second quarter. Price T Rowe Associates Inc. MD now owns 6,827 shares of the financial services provider valued at $330,000 after acquiring an additional 265 shares during the period. Hedge funds and other institutional investors hold 71.44% of the company’s shares.

A Wall Street analyst gives his opinion

Several analysts have recently weighed in on the stock. Compass Point raised its price target on shares of Washington Trust Bancorp to $60.00 and gave the company an “outperform” rating in a Wednesday, July 27 research note. StockNews.com upgraded Washington Trust Bancorp shares from a “sell” to a “hold” rating in a report released Monday, July 18.

Washington Trust Bancorp Company Profile

(Get a rating)

Washington Trust Bancorp, Inc. operates as a bank holding company for The Washington Trust Company, of Westerly, which provides various banking and financial services to individuals and businesses. The Company operates in two segments, commercial banking services and wealth management services. The Commercial Banking segment offers various commercial and retail lending products, such as commercial real estate loans, including commercial mortgage loans and construction loans; commercial and industrial loans; residential real estate loans which consist of homeowner mortgages and construction loans; and consumer loans including home equity loans and lines of credit, personal installment loans and personal loans secured by general aviation aircraft.

See also

Dividend history for Washington Trust Bancorp (NASDAQ:WASH)

This instant news alert was powered by MarketBeat’s storytelling 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 Washington Trust Bancorp, 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 stocks that top analysts are quietly whispering to their clients to buy now before the market takes off…and Washington Trust Bancorp was not on the list.

While Washington Trust Bancorp currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.

See the five actions here

]]>
Banks and consumer advocates urge CFPB to rein in non-bank personal lenders https://saar-new-media.com/banks-and-consumer-advocates-urge-cfpb-to-rein-in-non-bank-personal-lenders/ Thu, 15 Sep 2022 22:24:00 +0000 https://saar-new-media.com/banks-and-consumer-advocates-urge-cfpb-to-rein-in-non-bank-personal-lenders/ Two rare allies — a consumer group and a banking trade association — are urging the Consumer Financial Protection Bureau to begin regulating large fintech lenders that provide installment and other types of personal loans. Director of the Consumer Financial Protection Bureau Rohit ChopraCFPB The Center for Responsible Lending and the Consumer Bankers Association on […]]]>

Two rare allies — a consumer group and a banking trade association — are urging the Consumer Financial Protection Bureau to begin regulating large fintech lenders that provide installment and other types of personal loans.

Director of the Consumer Financial Protection Bureau Rohit Chopra

CFPB

The Center for Responsible Lending and the Consumer Bankers Association on Thursday asked CFPB Director Rohit Chopra to draft a rule that would expand the agency’s jurisdiction to include such lenders, which the groups say should be subject to to the same rules as the big banks and credit. unions.

“While our views on consumer financial regulatory issues often diverge, CRL and CBA share a common belief that the lack of a rule defining large participants in the personal loan market has created an uneven playing field. and a significant risk to consumers that the Bureau can and should resolve through broader participant regulation,” the letter states.

The CFPB had previously considered expanding its scope in 2017, when the agency said in its agenda that it was “currently working on a proposed rule that would define ‘large participants.’ non-banks in the personal loan market, including consumer installment loans and vehicle title loans.” In 2018, however, the agency under the Trump administration categorized the rulemaking as ” inactive”.

The groups have called on the CFPB to re-examine regulations as the number of fintech firms targeting subprime customers grows. Banks have long complained that non-fintech banks aren’t subject to the same kind of strict oversight as they are.

“The current regulatory regime creates both a level playing field and a significant risk that consumer protection issues affecting vulnerable consumers will go undetected,” according to the letter. “Banks with assets exceeding $10 billion are, of course, subject to CFPB oversight, while non-custodians offering the same products – or risky products – are not subject to oversight. This means that the Bureau does not have the same window into the practices of these non-custodians as it has with respect to custodians.”

The groups also call the buy now/pay later market, which they say is confusing because it is sometimes unclear whether BNPL companies offer closed-end loans. Chopra pledged to apply consumer protection laws to BNPL businesses at a press conference held earlier this week.

“We recommend that the Bureau cover both closed installment loans and open lines of credit,” the groups said. “In truth, the boundary between these two products is often indistinct: lenders who offer what, in form, are closed-end loans, generally encourage consumers, when repaying their loan, to re-borrow at least until up to the amount of the original loan, such as an open-ended line of credit, while open-ended loans can be structured so that each drawdown is repayable in fixed installments over a fixed term, thus closely resembling a loan to undetermined duration.”

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LendingClub: Why $1,400 is a “new” emergency expense https://saar-new-media.com/lendingclub-why-1400-is-a-new-emergency-expense/ Wed, 14 Sep 2022 08:01:18 +0000 https://saar-new-media.com/lendingclub-why-1400-is-a-new-emergency-expense/ For years, $400 served as a shorthand for the precarious state of the American consumer’s financial health, whether they could afford to meet an unexpected emergency expense. The number has been firmly entrenched in the discussion of this country’s finances, including in the annual economic well-being reports released each year by the Federal Reserve. Now […]]]>

For years, $400 served as a shorthand for the precarious state of the American consumer’s financial health, whether they could afford to meet an unexpected emergency expense.

The number has been firmly entrenched in the discussion of this country’s finances, including in the annual economic well-being reports released each year by the Federal Reserve.

Now that seems a long way off.

About $1,000.

The path loan club Financial Health Officer Anuj Nayar says he sees it, that number is woefully short of the reality we face today. It turns out, as found in joint research by his company and PYMNTS, that unplanned emergencies actually cost consumers an average of $1,400.

Hopelessly obsolete

Nayar noted that inflation these days has driven up the cost of all sorts of expenses to the point where even buying a replacement tire or two – to fix a common puncture – can easily cost several hundred. of dollars. A visit to the emergency room can cost thousands of dollars.

It’s now well established that the paycheck-to-paycheck economy encompasses about 60% of individuals, all of whom have little or nothing to save once they’ve paid the bills each month.

Read more: Study: 29% of consumers usually renew their credit card balances

More consumers than ever are poised to meet those expenses without too much difficulty — and slip into the realm of the fight to make the monthly nut. This emergency spending could serve as a tipping point, Nayar said.

Savings cushions are quickly depleted, where just paying for gas and food becomes an ongoing and growing challenge. No less than 13% of consumers have, in recent months, spent more money than they have received (equivalent to 33.5 million consumers).

“The only way to bridge that gap is to use credit or dip into savings, and that pushes you further into the paycheck-to-paycheck environment…Any additional bump in the road can push you into that category,” he said. said.

In the current environment, he said, more than half of consumers use cash to pay for emergency expenses, and about 23% use credit (but still pay off balances in full each month). But another 18% use the card and transfer it to a long-term revolving credit balance.

“It’s hard to deal with all of this when your savings rates go down and the rates on credit card debt go up,” Nayar said.

Read more: Paycheck-to-paycheck consumers are 3 times more likely to incur credit card debt

And while there are signs that inflation may be peaking, anyone can guess how the next few months (and the all-important holiday shopping season) will play out.

Regardless of the inflationary image, here are some silver linings. FinTechs and platforms (LendingClub among them) can help individuals regain a certain financial balance and move towards better financial health. Turning debt into installment loans, Nayar offered as an example available on his company’s platform, may be a more palatable (and affordable) option than opting to continue paying high-interest revolving fees.

“Technology is being used as a way to help our members and ordinary Americans get back on a path where they can start rebuilding the cushion to save,” Nayar said, adding “people don’t need to keep turning to the same old solutions they’ve been using for decades.

New PYMNTS Study: How Consumers Use Digital Banks

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Synchrony Financial (NYSE:SYF) Receives an Average “Moderate Buy” Recommendation from Brokerages https://saar-new-media.com/synchrony-financial-nysesyf-receives-an-average-moderate-buy-recommendation-from-brokerages/ Sun, 11 Sep 2022 06:46:40 +0000 https://saar-new-media.com/synchrony-financial-nysesyf-receives-an-average-moderate-buy-recommendation-from-brokerages/ Synchrony Financial (NYSE: SYF – Get a rating) received an average rating of “moderate buy” from the seventeen analysts who currently cover the stock, MarketBeat reports. One research analyst rated the stock with a sell rating, four gave the company a hold rating and seven gave the company a buy rating. The average 1-year target […]]]>

Synchrony Financial (NYSE: SYF – Get a rating) received an average rating of “moderate buy” from the seventeen analysts who currently cover the stock, MarketBeat reports. One research analyst rated the stock with a sell rating, four gave the company a hold rating and seven gave the company a buy rating. The average 1-year target price among brokerages that updated their coverage on the stock in the past year is $44.00.

A number of brokerages have recently commented on SYF. StockNews.com downgraded shares of Synchrony Financial from a “buy” rating to a “hold” rating in a Thursday, Aug. 25, report. Credit Suisse Group raised its price target on Synchrony Financial shares from $46.00 to $47.00 and gave the company an “outperform” rating in a Tuesday, July 19 research note. Barclays cut its price target on Synchrony Financial shares from $64.00 to $49.00 and set an “overweight” rating for the company in a Monday July 11 research note. Stephens raised his price target on Synchrony Financial shares from $29.00 to $35.00 and gave the company an “equal weight” rating in a Tuesday, July 19 research note. Finally, Piper Sandler set a price target of $41.00 on Synchrony Financial shares in a Tuesday, July 19 research note.

Synchrony financial price performance

A d Legacy search

The 3-action pension plan

When most people think of making money in the markets, they think “buy and hold”. They think “diversification”. And they think about investing in things like index funds. But one man has a different approach…

NYSE:SYF shares opened at $33.42 on Friday. The company’s fifty-day moving average price is $32.76 and its 200-day moving average price is $34.48. The company has a market capitalization of $16.10 billion, a price/earnings ratio of 4.88, a PEG ratio of 0.24 and a beta of 1.56. Synchrony Financial has a 1-year low of $27.22 and a 1-year high of $52.49. The company has a debt ratio of 0.96, a current ratio of 1.21 and a quick ratio of 1.21.

Synchrony Financial (NYSE: SYF – Get a rating) last released its quarterly results on Monday, July 18. The financial services provider reported EPS of $1.60 for the quarter, beating analyst consensus estimates of $1.43 by $0.17. The company posted revenue of $3.80 billion for the quarter, versus analyst estimates of $2.74 billion. Synchrony Financial had a net margin of 22.76% and a return on equity of 27.06%. In the same quarter of the previous year, the company achieved EPS of $2.12. On average, equity research analysts expect Synchrony Financial to post earnings per share of 5.79 for the current fiscal year.

Synchrony Financial increases its dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 11. Shareholders of record on Monday August 1 received a dividend of $0.23. This represents an annualized dividend of $0.92 and a dividend yield of 2.75%. This is a boost from Synchrony Financial’s previous quarterly dividend of $0.22. The ex-dividend date was Friday, July 29. Synchrony Financial’s dividend payout ratio (DPR) is currently 13.43%.

Institutional investors weigh in on Synchrony Financial

Several institutional investors and hedge funds have recently changed their holdings in SYF. SeaCrest Wealth Management LLC bought a new stake in shares of Synchrony Financial in Q2 for a value of approximately $28,000. Clear Street Markets LLC increased its stake in Synchrony Financial shares by 392.0% in Q2. Clear Street Markets LLC now owns 1,048 shares of the financial services provider worth $29,000 after acquiring 835 additional shares in the last quarter. Harvest Fund Management Co. Ltd bought a new position in shares of Synchrony Financial in Q2 for a value of approximately $31,000. Quent Capital LLC increased its stake in Synchrony Financial shares by 50.1% in Q1. Quent Capital LLC now owns 1,003 shares of the financial services provider worth $35,000 after acquiring 335 additional shares in the last quarter. Finally, Column Capital Advisors LLC bought a new stock position in Synchrony Financial in Q1 for about $37,000. 94.12% of the shares are held by hedge funds and other institutional investors.

Synchrony Financial Company Profile

(Get a rating)

Synchrony Financial, together with its subsidiaries, operates as a consumer financial services company in the United States. It provides credit products, such as credit cards, commercial credit products and consumer installment loans. The company also offers private label credit cards, dual cards, co-branded and general purpose credit cards, short and long term installment loans and consumer banking products; and deposit products, including certificates of deposit, individual retirement accounts, money market accounts, and savings accounts for retail and commercial customers, as well as deposits through brokerage firms in third-party securities.

Further reading

Analyst Recommendations for Synchrony Financial (NYSE: SYF)

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 contact@marketbeat.com.

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

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StockNews.com starts covering Salisbury Bancorp (NASDAQ:SAL) https://saar-new-media.com/stocknews-com-starts-covering-salisbury-bancorp-nasdaqsal/ Sat, 10 Sep 2022 06:33:46 +0000 https://saar-new-media.com/stocknews-com-starts-covering-salisbury-bancorp-nasdaqsal/ Stock market analysts at StockNews.com initiated a hedge on the shares of Salisbury Bancorp (NASDAQ:SAL – Get a rating) in a research note published Saturday. The brokerage has placed a “hold” rating on the bank’s shares. Salisbury Bancorp share performance Salisbury Bancorp shares opened at $23.50 on Friday. The company has a market capitalization of […]]]>

Stock market analysts at StockNews.com initiated a hedge on the shares of Salisbury Bancorp (NASDAQ:SAL – Get a rating) in a research note published Saturday. The brokerage has placed a “hold” rating on the bank’s shares.

Salisbury Bancorp share performance

Salisbury Bancorp shares opened at $23.50 on Friday. The company has a market capitalization of $135.92 million, a P/E ratio of 9.07 and a beta of 0.72. Salisbury Bancorp has a 52-week minimum of $22.50 and a 52-week maximum of $29.95. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt ratio of 0.23. The company’s 50-day moving average is $23.59 and its two-hundred-day moving average is $18.95.

Salisbury Bancorp (NASDAQ:SAL – Get a rating) last announced its results on Wednesday, July 20. The bank reported earnings per share (EPS) of $0.66 for the quarter, missing analyst consensus estimates of $0.72 per ($0.06). Salisbury Bancorp had a return on equity of 11.24% and a net margin of 25.89%. The company posted revenue of $14.17 million for the quarter, versus $13.80 million expected by analysts. Research analysts expect Salisbury Bancorp to post an EPS of 2.82 for the current financial year.

Institutional investors weigh in on Salisbury Bancorp

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A share doubles your money during the crisis?

We all knew this would end at some point, right? We had one of the longest bull markets in history, with the S&P surging more than 800%. But now the hens have come in to roost.

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. State Street Corp increased its stake in Salisbury Bancorp by 4.0% in the second quarter. State Street Corp now owns 11,277 shares of the bank valued at $532,000 after acquiring 432 additional shares during the period. MCF Advisors LLC acquired a new stake in Salisbury Bancorp in the first quarter worth $25,000. Resources Management Corp CT ADV increased its stake in Salisbury Bancorp by 37.7% in the second quarter. Resources Management Corp CT ADV now owns 1,825 shares of the bank valued at $86,000 after acquiring an additional 500 shares during the period. Asset Dedication LLC acquired a new stake in Salisbury Bancorp in the first quarter worth $33,000. Finally, Renaissance Technologies LLC increased its stake in Salisbury Bancorp by 6.0% in the second quarter. Renaissance Technologies LLC now owns 12,300 shares of the bank valued at $581,000 after acquiring an additional 700 shares during the period. Institutional investors and hedge funds hold 12.74% of the company’s shares.

About Salisbury Bancorp

(Get a rating)

Salisbury Bancorp, Inc operates as a bank holding company for Salisbury Bank and Trust Company which provides commercial banking, consumer finance, retail banking, and trust and wealth advisory services. It offers various deposit products to individuals and businesses. The company also provides loans, such as residential and commercial real estate loans; building loans; working capital loans; equipment loans; and consumer loans, including home equity loans and lines of credit, secured loans, and auto and personal installment loans.

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This instant news alert was powered by MarketBeat’s storytelling 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 Salisbury Bancorp, 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 stocks that top analysts are quietly whispering to their clients to buy now before the market takes off…and Salisbury Bancorp was not on the list.

While Salisbury Bancorp currently has an “N/A” rating among analysts, top-rated analysts believe these five stocks are better buys.

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Debt Consolidation in California: Types of Debt You Can Consolidate https://saar-new-media.com/debt-consolidation-in-california-types-of-debt-you-can-consolidate/ Mon, 05 Sep 2022 23:20:48 +0000 https://saar-new-media.com/debt-consolidation-in-california-types-of-debt-you-can-consolidate/ If you are one of the many Californians struggling with debt, you may be considering debt consolidation and what types of debts you can consolidate. Consolidation loans can help you get your finances under control. By combining all your debts into one loan, you can lower your overall interest rate and make one affordable monthly […]]]>

If you are one of the many Californians struggling with debt, you may be considering debt consolidation and what types of debts you can consolidate. Consolidation loans can help you get your finances under control. By combining all your debts into one loan, you can lower your overall interest rate and make one affordable monthly payment.

Debt Consolidation in California has become a popular way to make loans more affordable, especially with consumer debt totaling over $15 trillion in 2021. By consolidating multiple debts into one loan with a lower interest rate, people can save money on interest and pay off their debt faster.

When it comes to getting your finances in order, debt consolidation can be a big help. By consolidating your various debts into one payment, you can make things more affordable and get back on track. However, it is important to know that not all types of debt can be consolidated.

Types of debt you can consolidate

When you take a closer look how to get a debt consolidation loan you’ll find that it’s actually a great way to save money on interest and get out of debt faster. However, not all types of debt are eligible for consolidation. In this blog post, we’ll cover three types of debt you can consolidate to save money.

Student loans

Photo credit: ITTIGallery

Making one payment to your loan officer each month might not be enough to cover all of your student loan accounts. Each time you received a new disbursement of funds during your studies, a new loan was opened in your name. This could cause multiple student loan accounts to appear on your credit reports.

As tuition fees continue to rise, more and more students are taking out loans to cover their expenses. It is not uncommon for students to have eight or more loans by the time they complete their undergraduate studies. Taking out loans can be a useful way to pay for college, but it’s important to remember that you’ll need to repay your loans after you graduate.

There are pros and cons to consolidating your student loans. If you consolidate your federal student loans using a private lender, you may lose some benefits like income-contingent repayment. It may be helpful to separate your federal loans and only consolidate your private student loans.

Financial benefits

Student loan debt can be a huge burden, but consolidating your loans can provide much-needed financial relief. Interest charges can add up over time, making it difficult to keep track of your payments.

Falling interest rates

By consolidating your loans, you may be able to obtain a lower interest rate, which could result in significant savings over the life of your loan.

Credit score

Photo credit: billion photos

One of the key factors that can affect your credit score is the number of accounts with balances on your credit report. Although this is not a major scoring factor, it can still impact your credit scores. Therefore, it is important to monitor these accounts and ensure that they are in good standing. Debt consolidation can be a great way to get your finances in order, but have you ever wondered, does debt consolidation hurt your credit?

One thing you can do is reduce the number of accounts with outstanding balances. Your score may not increase much, but even a few points can make a difference. It is therefore worth taking this step if you are trying to improve your credit.

What if you got sick or injured and had to take time off work? You may not be able to afford to pay your student loan officer. However, even if you only make one payment, that payment is actually split between six accounts. The late payment would not only show up on your credit reports; it could be reported on six different accounts.

High Interest Personal Loans

photo credit: fizkes

To consolidate your debts and simplify your finances, you may want to consider consolidating your high interest personal loans. It can help you get out of debt faster and make it easier to manage your money. Some people may find that other debt management tactics are better suited to their needs. Depending on your financial situation, if you live in California, you may want to consider alternatives for debt consolidation. Click here.

Financial benefits

If you have good or excellent credit, you can get a personal loan with a very competitive interest rate. However, if your credit score is lower, you will likely have to pay a much higher rate, which will increase your monthly payment.

Saving interest

Save money on interest by getting a new loan with a lower APR. Your credit may have improved or interest rates may be lower than when you first took out your loan(s).

Best Debt Consolidation

Credit score

Personal loans can be a great way to consolidate your debt and save money on interest payments. However, since personal loans are installment and non-revolving accounts, consolidating these loans into a new personal loan will not reduce your credit utilization rate. Consolidation loans are a great way to get out of debt, but what to do if you have bad credit?

Your scores may improve if you have fewer accounts with balances. However, there may be a negative impact on your score due to the credit inquiry and the new account appearing on your report.

Credit card debt

Photo credit: Studio Hamza

It’s important to be smart with your finances and one way to do that is to pay off your credit card balance each month. This eliminates the need to pay interest, reduces debt, and keeps your credit score healthy.

Debt doesn’t have to be a fact of life. You can create a plan to pay off your credit card debt, and debt consolidation could help you reach your goal faster.

Financial benefits

Californians believe that debt consolidation is often seen as a way to pay off smaller, more manageable debts first. However, it may make more financial sense to tackle your most expensive debts first.

Save costs
Photo credit: wutzkohphoto

For example, let’s say you have debt of $10,000 with an APR of 16%. If you consolidate that debt with a new 24-month 7.5% personal loan, you could potentially save hundreds of dollars in interest charges:

  • About $1,100 in interest charges
  • About $60 per month
Repay faster

You could be debt free within two years. It’s a win-win situation for your finances.

Credit score

If you have balances on your credit cards, your credit score may be lowered. Lenders look at your revolving utilization rate, which is the percentage of your credit limit that you use when considering a loan.

Credit utilization is the percentage of your credit limit that you are using. The higher your credit usage, the worse your credit score. Therefore, it is important to limit the use of your credit in order to maintain a good credit rating.

Paying off your credit card balance with a consolidation loan can help improve your credit score. In effect, this lowers your credit utilization rate, which is the percentage of your total credit limit that you are using. A lower ratio usually means a better credit score.

Personal loans are usually installment accounts, which are repaid each month over a set period. Installment loans are treated differently by credit scoring models, so they won’t have as much of an impact on your score.

There are several ways to consolidate your credit card debt and one of them is to use a balance transfer credit card. If you qualify for an offer with a low or no interest rate, you can save on interest payments for six, 12, or even up to 24 months. However, keep in mind that your new balance transfer card is still a revolving account, so you probably won’t see as many credit score benefits if you go that route.

Other benefits you should also consider:

  • Total debt reduced rapidly.
  • A new account added to your report improves your payment history.

Closing view

Photo credit: GaudiLab

Debt consolidation can help lower your interest rates and monthly payments, as well as streamline the repayment process. This can make it easier to manage your unpaid debts and improve your credit and overall financial situation. health.

Consolidation loans can be a helpful way to get your finances in order, but they’re not for everyone. It is important to understand how debt consolidation works and what types of debts can be consolidated. Additionally, it’s worth looking at your budget and spending habits to make sure consolidation won’t lead to more debt in the future.

Debt Consolidation Reviews

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