Fund – Bon Appetit Online http://bonappetitonline.com/ Fri, 05 Aug 2022 22:09:00 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://bonappetitonline.com/wp-content/uploads/2021/05/bon-appetit-online-icon-150x150.png Fund – Bon Appetit Online http://bonappetitonline.com/ 32 32 With record repo rate hike, RBI signals end of era of cheap lending https://bonappetitonline.com/with-record-repo-rate-hike-rbi-signals-end-of-era-of-cheap-lending/ Fri, 05 Aug 2022 22:09:00 +0000 https://bonappetitonline.com/with-record-repo-rate-hike-rbi-signals-end-of-era-of-cheap-lending/

Express press service

NEW DELHI: Lending is all set to get more expensive, with the Reserve Bank of India on Friday raising the repo rate (at which it lends money to commercial banks) by 0.5% to 5.4% with immediate effect.

Home and auto loans, which are linked to repo rates, will immediately feel the pinch as the transmission of RBI rate action is instantaneous in such cases.

Interest rates are already around 7.55% for borrowers with high credit scores. With the latest increase, it could exceed 8%.

This will be a substantial increase considering that at the start of the year mortgage rates were only 6.65%.

ICICI Bank and Punjab National Bank have already hiked lending rates after the central bank raised the benchmark interest rate on Friday.

Y Viswanatha Gowd, MD and CEO of LIC Housing Finance, said rising repo rates will cause some fluctuation in EMIs or mortgage tenors, but housing demand is expected to remain robust. A calculation on the back of the envelope shows that the EMI on a loan of Rs 50 lakh with a tenor of 20 years will increase by Rs 1,518.

On the positive side, those with term deposits in banks will gain as their rates will also rise, albeit slowly.

Currently, one-year fixed deposit rates range from 5.6% to 6.3%. RBI has so far raised the repo rate by a total of 1.4% since May.

With the latest hike, he completely reversed the Covid-era cuts. The current repo rate at 5.25% is higher than the pre-Covid level of 5.15%.

Justifying the hike, RBI Governor Shaktikanta Das said the regulator was being forced to act as inflation remained at “unacceptable levels”. RBI maintained its inflation outlook for the current financial year at 6.7%, while the regulator is mandated to keep it below 6%.

Das said India’s economy was improving, thanks to a recovery in urban demand. RBI pegged GDP growth for FY23 at 7.2%.

Banks can’t rely on RBI money forever: Das

RBI Governor Shaktikanta Das said on Friday that banks could not “constantly” rely on central bank money to support credit drawdown and needed to mobilize more deposits to spur growth credit.

]]> Third Quarter 2023 EPS Estimates for First Commonwealth Financial Co. (NYSE:FCF) Raised by Analyst https://bonappetitonline.com/third-quarter-2023-eps-estimates-for-first-commonwealth-financial-co-nysefcf-raised-by-analyst/ Tue, 02 Aug 2022 10:48:05 +0000 https://bonappetitonline.com/third-quarter-2023-eps-estimates-for-first-commonwealth-financial-co-nysefcf-raised-by-analyst/

First Commonwealth Financial Co. (NYSE: FCF – Get a rating) – B. Riley raised his earnings per share estimates for the third quarter of 2023 for shares of First Commonwealth Financial in a note to investors on Sunday, July 31. B. Riley analyst S. Moss now expects the bank to post earnings of $0.41 per share for the quarter, up from its previous estimate of $0.40. First Commonwealth Financial’s current annual earnings consensus estimate is $1.41 per share. B. Riley also released estimates for First Commonwealth Financial’s fourth quarter 2023 earnings at $0.40 EPS.

Several other equity research analysts have also recently weighed in on the FCF. Raymond James upgraded First Commonwealth Financial from an “outperforming” rating to a “market performing” rating in a Thursday July 7 research report. DA Davidson reiterated a “buy” rating on First Commonwealth Financial shares in a Wednesday July 27 research report. Three equity research analysts gave the stock a hold rating and three gave the company a buy rating. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $18.00.

First Commonwealth Financial Trading up 0.8%

Shares of First Commonwealth Financial opened at $14.94 on Tuesday. The stock’s 50-day simple moving average is $13.74 and its 200-day simple moving average is $14.74. First Commonwealth Financial has a 52-week low of $12.36 and a 52-week high of $17.63. The stock has a market capitalization of $1.41 billion, a P/E ratio of 11.07 and a beta of 1.01. The company has a debt ratio of 0.17, a quick ratio of 0.90 and a current ratio of 0.90.

First Commonwealth Financial (NYSE: FCF – Get a rating) last reported quarterly earnings data on Tuesday, July 26. The bank reported earnings per share (EPS) of $0.33 for the quarter, meeting analyst consensus estimates of $0.33. First Commonwealth Financial had a return on equity of 11.74% and a net margin of 32.04%. During the same period of the previous year, the company posted EPS of $0.31.

First Commonwealth Financial announces dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 19. Investors of record on Friday, August 5 will receive a dividend of $0.12. This represents an annualized dividend of $0.48 and a dividend yield of 3.21%. The ex-date of this dividend is Thursday, August 4. First Commonwealth Financial’s dividend payout ratio (DPR) is 35.56%.

Institutional entries and exits

Institutional investors have recently changed their stock portfolios. Lazard Asset Management LLC bought a new position in shares of First Commonwealth Financial in the fourth quarter for a value of approximately $27,000. Aaron Wealth Advisors LLC bought a new position in shares of First Commonwealth Financial in the first quarter for a value of approximately $263,000. Moisand Fitzgerald Tamayo LLC bought a new position in shares of First Commonwealth Financial in the second quarter for a value of approximately $63,000. Psagot Value Holdings Ltd. Israel bought a new position in shares of First Commonwealth Financial in the first quarter for a value of approximately $76,000. Finally, UMB Bank NA MO bought a new position in shares of First Commonwealth Financial in the fourth quarter for a value of approximately $89,000. 68.56% of the shares are currently held by institutional investors.

Profile of the Commonwealth’s First Financial Corporation

(Get a rating)

First Commonwealth Financial Corporation, a financial holding company, provides various retail and corporate banking services in the United States. Its consumer services include personal checking accounts, interest-bearing checking accounts, savings and health savings accounts, insured money market accounts, debit cards, investment certificates, interest rate certificates of deposit fixed and variable loans, mortgages, secured and unsecured installment loans, construction and home loans, safe deposit boxes, credit cards, lines of credit with overdraft protection, IRA accounts and automated teller machine (ATM) services ), as well as internet, mobile and telephone banking.

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Earnings history and estimates for First Commonwealth Financial (NYSE:FCF)

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Grupo Aval Acciones y Valores SA (NYSE:AVAL) Brief Interest Update https://bonappetitonline.com/grupo-aval-acciones-y-valores-sa-nyseaval-brief-interest-update/ Sun, 31 Jul 2022 16:40:39 +0000 https://bonappetitonline.com/grupo-aval-acciones-y-valores-sa-nyseaval-brief-interest-update/

Grupo Aval Acciones y Valores SA (NYSE: AVAL – Get a rating) was the target of strong short-term interest growth in July. As of July 15, there was short interest totaling 369,500 shares, up 45.7% from the total of 253,600 shares as of June 30. Based on an average daily volume of 148,700 shares, the day-to-cover ratio is currently 2.5 days.

Institutional investors weigh on Grupo Aval Acciones y Valores

Hedge funds and other institutional investors have recently increased or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. increased its position in Grupo Aval Acciones y Valores by 14.4% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 260,799 shares of the bank valued at $1,333,000 after acquiring 32,825 additional shares last quarter. Russell Investments Group Ltd. acquired a new stake in Grupo Aval Acciones y Valores in Q4 valued at approximately $37,000. Dimensional Fund Advisors LP increased its position in Grupo Aval Acciones y Valores by 2.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 179,975 shares of the bank valued at $820,000 after acquiring 4,870 additional shares in the last quarter. Invesco Ltd. increased its position in Grupo Aval Acciones y Valores by 19.7% in the 1st quarter. Invesco Ltd. now owns 50,266 shares of the bank valued at $229,000 after acquiring 8,271 additional shares last quarter. Finally, Truist Financial Corp bought a new position in shares of Grupo Aval Acciones y Valores in Q2, valued at around $38,000. Institutional investors and hedge funds own 0.45% of the company’s shares.

Grupo Aval Acciones y Valores Performance Awards

Shares of Grupo Aval Acciones y Valores traded down $0.01 at midday on Friday, hitting $3.57. 53,262 shares were traded, against an average volume of 128,967. The company has a market capitalization of $3.96 billion, a price-earnings ratio of 3.37 and a beta of 1.33. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt ratio of 1.03. The company has a 50-day simple moving average of $3.83 and a 200-day simple moving average of $4.55. Grupo Aval Acciones y Valores has a fifty-two week minimum of $3.24 and a fifty-two week maximum of $6.15.

Grupo Aval Acciones y Valores (NYSE: AVAL – Get a rating) last announced its results on Friday, May 20. The bank reported earnings per share (EPS) of $0.34 for the quarter. The company had revenue of $922.71 million in the quarter. Grupo Aval Acciones y Valores achieved a net margin of 16.85% and a return on equity of 8.81%. On average, sell-side analysts expect Grupo Aval Acciones y Valores to post EPS of 0.82 for the current fiscal year.

Grupo Aval Acciones y Valores increases its dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 7. Shareholders of record on Thursday, June 2 received a dividend of $0.245. This represents an annualized dividend of $0.98 and a yield of 27.45%. The ex-dividend date was Wednesday, June 1. This is a boost from Grupo Aval Acciones y Valores’ previous quarterly dividend of $0.04. The dividend payout ratio (DPR) of Grupo Aval Acciones y Valores is currently 24.53%.

Company Profile Grupo Aval Acciones y Valores

(Get a rating)

Grupo Aval Acciones y Valores SA provides a range of financial services and products to public and private sector clients in Colombia and Central America. It offers traditional deposit services and products, including checking accounts, savings accounts, term deposits and other deposits. The Company also offers commercial loans including general purpose loans, working capital loans, leases, loans financed by development banks, corporate credit cards and overdraft loans; consumer loans, such as payday loans, personal loans, car and other vehicle loans, credit cards, overdrafts, leases and general purpose loans; and microcredit and mortgages.

See also

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When will used car prices drop? https://bonappetitonline.com/when-will-used-car-prices-drop/ Sat, 30 Jul 2022 00:48:12 +0000 https://bonappetitonline.com/when-will-used-car-prices-drop/

In KPMG’s recent report, they illustrate four scenarios for the market to return to more normal conditions. They have time horizons ranging from the fourth quarter of this year to the last quarter of 2023. At least one of KPMG’s scenarios (continued low supply and high demand) has the potential to see used car prices climb even higher before lowering.

So, yes, you can expect price drops, but expect a slow deceleration, unlike the rapid increases the used car market has seen.

Of course, further disruptions could accelerate price declines or bring them to a screeching halt. If rapid increases in interest rates are accompanied by a return of new car production by automakers to previous levels, prices could fall rapidly. On the other hand, if shortages persist, it could be a long time before prices come down significantly. Further plant closures due to parts shortages or the continuation of the pandemic could worsen the lack of new car inventory, which is then reflected in the used vehicle market.

“JD Power is starting to see some early production improvements, which should continue into the second half of this year.” said Paris. “However, despite improved new vehicle production, retail inventories on the ground remain extremely tight, which will keep new and used vehicle prices high throughout 2022.”

How much will they drop?

While used car prices are likely to fall, there is no consensus on how much or how fast. The new price floor will probably still be a long way off, even if prices start falling rapidly. Buyers who had remained on the sidelines will re-enter the market and their demand will slow any decline in prices.

If you’re hoping for pre-pandemic prices, you shouldn’t hold your breath. Even without market disruptions, the used car market would have seen natural price increases, much like new car prices have slowly increased over the decades. The floor price of the used car market will naturally be a bit higher in 2023 than it was in 2019.

Prices and interest rates

Even if used car prices go down, the total cost of ownership of a used car may go up. Indeed, interest rates, which have reached historic lows, are climbing rapidly as the Federal Reserve tries to contain inflation.

Here’s an example: When you take out a $20,000 car loan for 60 months at 4%, you can expect to pay $2,100 in interest over the life of the loan. That makes the actual cost of the car $22,100. With a 6% auto loan, you’ll pay $3,199 in interest, or $23,199 over the life of the loan. That’s about $1,100 more than the 4% financing.

Will the prices of some cars drop more than others?

According to JD Power Valuation Services, any price drop we see in the used car market will not be evenly distributed across vehicle segments.

“If we fast forward to 2024, JD Power expects some of the biggest declines to be seen in the most overheated segments right now,” Paris says. “These include small, compact and medium-sized passenger cars.”

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Monthly car loan payments up to $700 in July https://bonappetitonline.com/monthly-car-loan-payments-up-to-700-in-july/ Wed, 27 Jul 2022 21:24:00 +0000 https://bonappetitonline.com/monthly-car-loan-payments-up-to-700-in-july/

For the first time ever, monthly car payments topped $700 in July.

Dealerships are offering less and less discounts on vehicles these days as prices continue to rise and interest rates on loans rise steadily, said Thomas King of J.D. Power in a report in TheStreet on Wednesday, July 27. King is the president of the data and analytics division of the Michigan-based data analytics company.

“The average monthly finance payment in July is on track to hit a record high of $708, up $81 from July 2021,” he said.

Record monthly payments come from consumers looking for bigger vehicles and longer loans, said Greg McBridechief financial analyst for a financial data company The bank rate.

“Limited supply on dealer lots has driven sticker prices and loan amounts to levels never seen before,” McBride noted.

Related: New car payments top $1,000 for 12% of buyers amid supply chain grunts

Earlier this month, PYMNTS reported that the average monthly payment for new luxury cars has increased, with more than 12% of consumers financing a car paying more than $1,000 per month. The number represents a 7.3% higher payout from June 2021.

The increase has not tamed the appetite of luxury car buyers. But that won’t be doable for everyone, with Jessica Caldwell, executive director of ideas for car buying guide Edmunds, noting that many consumers will find new cars beyond their financial reach.

Earlier this month, CNBC reported that the average annual percentage rate is now 5% for a new auto loan for the first time since the start of 2020. This is up from 4%. , and the report says consumers will now pay $1,324 more in interest over the term of a 72-month $40,000 car loan.

Data from the US Bureau of Labor Statistics indicates that new car prices are up 12.6% from a year ago, while used cars are 16.1% more expensive.

——————————

NEW PYMNTS SURVEY FINDS 3 IN 4 CONSUMERS HAVING HIGH DEMAND FOR SUPER APPS

About: Results from PYMNTS’ new study, “The Super App Shift: How Consumers Want To Save, Shop And Spend In The Connected Economy,” a collaboration with PayPal, analyzed responses from 9,904 consumers in Australia, Germany, UK and USA. and showed strong demand for one super multi-functional app rather than using dozens of individual apps.

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Terraform Labs and Do Kwon face another class action lawsuit https://bonappetitonline.com/terraform-labs-and-do-kwon-face-another-class-action-lawsuit/ Mon, 25 Jul 2022 18:51:39 +0000 https://bonappetitonline.com/terraform-labs-and-do-kwon-face-another-class-action-lawsuit/

Key points to remember

  • A class action lawsuit was filed against Terraform Labs, Do Kwon, and a host of other crypto entities over the weekend.
  • The prosecution brings several charges, including racketeering, against the defendants.
  • Do Kwon also faces multiple lawsuits in South Korea following the Terra implosion.

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Terraform Labs and Do Kwon are accused, among other things, of misleading Terra investors and racketeering.

Terra Lawsuit Represents U.S. Retail Investors

Terraform Labs and Do Kwon have been hit with a new lawsuit in the United States.

The class action filed in California on Sunday evening claims that Terraform Labs and a host of other entities, including the company’s controversial CEO Do Kwon, Jump Crypto and Jump Trading, DeFiance Capital and bankrupt hedge fund Three Arrows Capital, are responsible for The direction retail investors to purchase Terra ecosystem tokens at “inflated prices”, make or endorse false or misleading statements, aid and abet, civil conspiracy, fail to register securities and racketeering.

The filing calls on anyone who has purchased tokens from the Terra ecosystem, including but not limited to native Terra, LUNA and UST blockchain assets, among May 20, 2021 and May 25, 2022 to get in on the action.

Terra suffered a dramatic meltdown in May when its algorithmic stablecoin, UST, lost its peg to the US dollar, triggering a death spiral that wiped out an estimated $40 billion from the crypto market within days. Several major crypto players, including Terra backers Three Arrows Capital, were hit hard when LUNA crashed to zero and the market fell, resulting in a domino effect that unfolded. widespread in the industry.

Meanwhile, Kwon and Terraform Labs dealt with the fallout. Terra tried to revive itself with a forked blockchain that omitted its flawed algorithmic stablecoin design, but it struggled to gain noticeable momentum, and its new LUNA token is now trading at over 90% against its Mountain peak. Kwon too faces several trials investors in South Korea and could be charged with running a Ponzi scheme. The South Korean Parliament is also investigating the question.

The filing of a complaint come three weeks after prosecutors from South Korea and the United States met to share information about the multiple ongoing investigations into the Terra collapse.

While Kwon faces charges in South Korea, he is believed to reside in Singapore. Terraform Labs’ sole headquarters is also located in Singapore after its South Korean subsidiary closed in May.

Disclosure: At the time of writing this article, the author of this article owned ETH and several other cryptocurrencies.

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Sabra Health Care REIT, Inc. (NASDAQ:SBRA) Receives an Average “Hold” Rating from Brokerages https://bonappetitonline.com/sabra-health-care-reit-inc-nasdaqsbra-receives-an-average-hold-rating-from-brokerages/ Sat, 23 Jul 2022 05:32:03 +0000 https://bonappetitonline.com/sabra-health-care-reit-inc-nasdaqsbra-receives-an-average-hold-rating-from-brokerages/

Shares of Sabra Health Care REIT, Inc. (NASDAQ: SBRA – Get a rating) earned an average recommendation of “Hold” from the twelve brokerages that currently cover the business, reports MarketBeat Ratings. Seven analysts rated the stock with a hold recommendation and five gave the company a buy recommendation. The 12-month average target price among brokers who have reported on the stock in the past year is $15.85.

SBRA has been the subject of several recent research reports. Mizuho upgraded Sabra Health Care REIT from a “neutral” rating to a “buy” rating and reduced its target price for the stock from $16.00 to $15.00 in a Wednesday, May 25 report. StockNews.com launched coverage on Sabra Health Care REIT in a Thursday, March 31 report. They have set a “holding” rating on the stock. Barclays downgraded Sabra Health Care REIT from an “overweight” rating to an “equal weight” rating and reduced its target price for the stock from $16.00 to $14.00 in a Monday, April 18 report. Capital One Financial launched coverage on Sabra Health Care REIT in a Friday, June 3 report. They set an “equal weight” rating and a target price of $15.50 on the stock. Finally, Credit Suisse Group raised its price target on Sabra Health Care REIT from $14.00 to $15.00 and gave the stock a “neutral” rating in a Monday, April 4 report.

Sabra Health Care REIT trades up 0.6%

Shares of SBRA opened at $14.74 on Friday. The company has a market capitalization of $3.40 billion, a P/E ratio of -30.08 and a beta of 1.33. Sabra Health Care REIT has a 12-month low of $11.44 and a 12-month high of $19.01. The company has a quick ratio of 3.60, a current ratio of 3.60 and a leverage ratio of 0.70. The stock’s fifty-day simple moving average is $14.00 and its 200-day simple moving average is $13.62.

Sabra Health Care REIT (NASDAQ: SBRA – Get a rating) last released its quarterly earnings data on Wednesday, May 4. The real estate investment trust reported earnings per share of $0.18 for the quarter, beating analysts’ consensus estimate of $0.17 by $0.01. Sabra Health Care REIT posted a negative return on equity of 3.15% and a negative net margin of 18.28%. In the same quarter last year, the company posted EPS of $0.39. As a group, sell-side analysts expect Sabra Health Care REIT to post 1.47 EPS for the current fiscal year.

Sabra Health Care REIT announces dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 31. Investors of record on Monday, May 16 received a dividend of $0.30 per share. This represents a dividend of $1.20 on an annualized basis and a yield of 8.14%. The ex-dividend date was Friday, May 13. Sabra Health Care REIT’s dividend payout ratio (DPR) is currently -244.89%.

Institutional entries and exits

Institutional investors have recently increased or reduced their stake in the company. Wedbush Securities Inc. acquired a new position in Sabra Health Care REIT during Q1 worth approximately $740,000. Comerica Bank increased its stake in Sabra Health Care REIT by 7.8% during the 1st quarter. Comerica Bank now owns 280,321 shares of the real estate investment trust worth $3,509,000 after buying an additional 20,295 shares last quarter. Bank of America Corp DE increased its stake in Sabra Health Care REIT by 40.6% during the 4th quarter. Bank of America Corp DE now owns 335,561 shares of the real estate investment trust worth $4,543,000 after buying an additional 96,846 shares last quarter. Parallel Advisors LLC increased its stake in Sabra Health Care REIT by 255.1% during the 1st quarter. Parallel Advisors LLC now owns 10,181 shares of the real estate investment trust worth $152,000 after buying an additional 7,314 shares in the last quarter. Finally, the New Jersey State Joint Pension Fund D increased its stake in Sabra Health Care REIT by 10.3% during the 4th quarter. New Jersey State Joint Pension Fund D now owns 298,512 shares of the real estate investment trust worth $4,042,000 after purchasing an additional 27,980 shares in the last quarter. 91.61% of the shares are held by institutional investors and hedge funds.

Sabra Health Care REIT Company Profile

(Get a rating)

As of March 31, 2022, Sabra’s investment portfolio included 416 properties held for investment. These include (i) 279 skilled nursing/transitional care facilities, (ii) 59 senior housing communities (senior residences – leased), (iii) 50 senior housing communities operated by third-party property managers pursuant to property management agreements (retirement homes – managed), (iv) 13 behavioral health facilities and (v) 15 specialty hospitals and other facilities), an asset held for sale, an investment in a lease-purchase, 16 investments in loans receivable (including (i) two mortgage loans, (ii) a construction loan and (iii) 13 other loans), seven investments in preferred shares and an investment in a unconsolidated joint venture.

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Analyst Recommendations for Sabra Health Care REIT (NASDAQ: SBRA)

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.

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Despite warnings, people still fall prey to loan app scams https://bonappetitonline.com/despite-warnings-people-still-fall-prey-to-loan-app-scams/ Thu, 21 Jul 2022 16:21:00 +0000 https://bonappetitonline.com/despite-warnings-people-still-fall-prey-to-loan-app-scams/

More than a month ago Sudha (name changed), 40, borrowed ₹60,000 from three different loan apps to meet some emergency expenses, including her children’s school fees. But, she got around ₹48,000 after deductions in the name of processing fee.

The loan was to be repaid within a week. Her nightmare began on the morning of the sixth day. Incessant WhatsApp calls and text messages demanding reimbursement have become the norm ever since. Partial payments to UPI links sent from multiple applications were never accounted for and debt grew, fueled by exorbitant interest rates. The requests quickly turned into threats, using the permissions she granted to access her contact list when installing the apps.

“They even got access to my phone gallery and started sending my tweaked photos and derogatory messages to those of my contacts. Sudha: She has since changed her mobile number and formatted her phone on the advice of cyber police.

Cyber ​​police sources said people continue to fall prey to loan applications despite numerous documented cases of fraud. Instant money with little documentation remains a big lure. Downloading copies of his Aadhaar and PAN cards was all Sudha had to do.

Notifications from these apps flood cellphone users, enticing them with loans and easy-to-install links. A random search on the Internet also generates a number of these applications. Customer reviews for many of these apps are the biggest warning about the threats they pose, but are routinely ignored.

“Operators are often from the northern states of India and they mask their digital footprint. Tracking them down is a difficult task. In addition, the money is transferred through a complex network of accounts. Raising awareness to stay away from these apps is the only plausible solution,” said a senior cyberpolice official.

There are also reports that money is not being loaned out at all, but app installers are being threatened with repaying loans they never took. “Many victims choose to pay, fearing the humiliation of being portrayed as cheaters and their transformed photos reaching those on their contact lists,” a Cybercell source said.

There are others who borrow money and refuse to repay, barely embarrassed by threats of denunciation and shame. Some of them even file complaints with the police for being harassed by loan applications or simply replace their mobile numbers. “But loan apps seem to have factored in this possibility and are still working, knowing that the people who will pay scared off by their bullying tactics will be more overnight than those who don’t care,” said said the officer.

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plan to exploit Interpol on “Chinese fraud” | Bhubaneswar News https://bonappetitonline.com/plan-to-exploit-interpol-on-chinese-fraud-bhubaneswar-news/ Tue, 19 Jul 2022 22:01:00 +0000 https://bonappetitonline.com/plan-to-exploit-interpol-on-chinese-fraud-bhubaneswar-news/ Bhubaneswar: The Economic Crimes Wing (EOW) of the state crime branch plans to move Interpol to track down four Chinese nationals, accused of defrauding scores in Odisha and other states by offering instant loans through illegal mobile apps, called Koko and gold credit.
Previously, the Bureau of Immigration (BOI) issued lookouts against Liu Yi in connection with the loan application fraud Koko and Shen Zhenhua alias Tony, Quan Hongwei alias Paul and Yang Haiying aka Doris for their alleged involvement in the Kredit Gold scam.
“While Yi is believed to have been involved in the operation of the app in China, Tony, Paul and Doris have used a similar modus operandi in Indonesia, Sri Lanka, Pakistan, Nepal and Bangladesh. They are expanding their financial criminal network in African and West Asian countries.They are operating in India in collusion with many shell companies.We can seek help from Interpol through the CBI,” EOW Deputy Inspector General JN Pankaj said.
After granting instant loans, the accused pressured the loanees to repay the money at an exorbitant rate of interest. They would continue to up the ante and start sending abusive messages to loanees’ contacts. Some victims reportedly committed suicide in some states.
The EOW has so far arrested five people – Mohammad Javed Saifi (from Ghaziabad), Tarun Dudeja (Gurgaon), Ram Shriram Pathade (Mumbai), Rakshith and Sushanth (both from Karnataka) in connection with the money fraud. Koko loan application and a Nitin Mallik under the Kredit Gold scam. The agency said the defendants were hired by the group of Chinese nationals and colluded with them to deceive people in different states.
Since the EOW successfully arrested several defendants in the loan application fraud cases, police in other states have begun to call on the former to solve similar cases in their jurisdictions. “So far we have been approached by police from Mumbai and Kolkata. They might come here soon and request the remand of the accused for questioning,” another EOW official said. ]]>
CNFinance Holdings Limited (NYSE:CNF) Short Interest Update https://bonappetitonline.com/cnfinance-holdings-limited-nysecnf-short-interest-update/ Mon, 18 Jul 2022 11:08:01 +0000 https://bonappetitonline.com/cnfinance-holdings-limited-nysecnf-short-interest-update/

CNFinance Holdings Limited (NYSE: CNF – Get a rating) recorded a sharp increase in short-term interest in the month of June. As of June 30, there was short interest totaling 314,000 shares, an increase of 43.6% from the total of 218,700 shares as of June 15. Based on an average trading volume of 60,700 shares, the short-term interest rate ratio is currently 5.2 days.

Institutional investors weigh in on CNFinance

Institutional investors and hedge funds have recently changed their stock holdings. JBF Capital Inc. acquired a new stake in shares of CNFinance during the fourth quarter valued at approximately $88,000. Gagnon Securities LLC increased its position in CNFinance shares by 9.5% during the fourth quarter. Gagnon Securities LLC now owns 1,527,494 shares of the company valued at $6,232,000 after purchasing an additional 132,451 shares in the last quarter. Dimensional Fund Advisors LP increased its position in CNFinance shares by 54.5% during the first quarter. Dimensional Fund Advisors LP now owns 61,256 shares of the company valued at $197,000 after purchasing an additional 21,598 shares in the last quarter. Gagnon Advisors LLC increased its position in CNFinance shares by 17.4% during the first quarter. Gagnon Advisors LLC now owns 784,002 shares of the company valued at $2,524,000 after purchasing an additional 116,177 shares in the last quarter. Finally, Truist Financial Corp increased its position in CNFinance shares by 53.4% ​​during the first quarter. Truist Financial Corp now owns 32,764 shares of the company valued at $106,000 after buying an additional 11,405 shares in the last quarter. Institutional investors hold 3.90% of the company’s shares.

CNFinance Trading up 0.4%

CNFinance stock opened at $2.41 on Monday. The stock has a market capitalization of $165.28 million, a P/E ratio of 48.20 and a beta of 0.28. The company has a debt ratio of 1.93, a current ratio of 821.21 and a quick ratio of 753.06. CNFinance has a 1-year low of $2.11 and a 1-year high of $6.34. The company’s 50-day moving average price is $2.63 and its 200-day moving average price is $3.17.

Analysts set new price targets

Separately, TheStreet upgraded CNFinance’s shares from a “c-” to a “d+” rating in a Tuesday, June 14 research note.

CNFinance company profile

(Get a rating)

CNFinance Holdings Limited, through its subsidiaries, provides home equity lending services in the People’s Republic of China. It offers microcredit services to micro and small business owners; and loan agency services for financial institutions. The company also offers bridge loan products, which are unsecured short-term loans to repay borrowers’ existing loans secured by real estate.

See also

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