Shares of PNB Housing Finance gained over a percent in the morning trade as investors digested its fundraising plans.
The stock has touched an intraday high of Rs 1,227.35 and an intraday low of Rs 1,215.00.
The lender on Tuesday said that it plans to raise up to Rs 10,000 crore by issuing bonds through public issue. The board of directors of the company in a meeting approved the proposal of raising of funds by way of public issue of secured and /or unsecured non-convertible debentures for an amount up to Rs 10,000 crore, PNB Housing Finance said in a regulatory filing.
The company said the money will be raised in one or more tranches.
It is promoted by state-owned Punjab National Bank, which holds 32.96 percent in the housing finance subsidiary.
The rest of 67.04 percent is owned by institutional investors, including mutual funds, venture capital funds, foreign portfolio investors; financial institutions and banks; individuals and foreign companies.
Top 5 Financial Stocks To Buy Right Now: Canadian Imperial Bank of Commerce(CM)
- [By Stephan Byrd]
Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) declared a quarterly dividend on Wednesday, May 23rd, Zacks reports. Stockholders of record on Thursday, June 28th will be paid a dividend of 1.036 per share by the bank on Friday, July 27th. This represents a $4.14 dividend on an annualized basis and a dividend yield of 4.63%. The ex-dividend date is Wednesday, June 27th.
- [By Garrett Baldwin]
We’re about to reveal a little wealth secret that could unlock the trade of a lifetime.Money MorningSpecial Situation Strategist Tim Melvin takes you inside what could easily be a 10-bagger for investors in the weeks ahead.Read more right here.
The Top Stock Market Stories for Tuesday
The Euro has plunged to its lowest point against the U.S. dollar in 2018 thanks to political problems in Europe. The breakdown of power in Italy has raised new concerns about the nations ability to repay its debts, as the spread between German and Italian bonds has widened. Market instability has also spread to Spain where the nations parliament is preparing to vote on whether to oust Prime Minister Mariano Rajoy and his party. Oil prices slid one news that OPEC and Russia will consider hikes in production during a meeting in Vienna, Austria on June 22nd. The news accompanied reports that U.S. production is expected to rise throughout the summer. The price of WTI oil sat at $67.20 per barrel. The Brent crude oil price recovered this morning, adding 1% to hit $76.12. Canadian banks are under pressure this morning over a major breach by cyber criminals. The Bank of Montreal (NYSE: BMO) and the Canadian Imperial Bank of Commerce (NYSE: CM) the two largest banking institutions in the country announced that roughly 90,000 customers data may have been stolen. This would be the first major cybersecurity event to happen in Canada involving financial firms.
Three Stocks to Watch Today: CRM, SBUX, MOMO
com (NYSE: CRM) will lead a busy day of earnings reports on Wall Street. The cloud computing giant is set to report fiscal first quarter 2019 numbers after the bell on Tuesday. The average analyst projection calls for a 46% jump in EPS of $0.46 on top of a 23% gain in revenue to $2.94 billion. Starbucks Corporation (Nasdaq: SBUX) will temporarily close about 8,000 locations on Tuesday to train roughly 175,000 employees on racial bias. The training sessions were
- [By Logan Wallace]
A number of firms have modified their ratings and price targets on shares of Canadian Imperial Bank of Commerce (TSE: CM) recently:
6/6/2018 – Canadian Imperial Bank of Commerce was upgraded by analysts at Citigroup Inc from a “neutral” rating to a “buy” rating. They now have a C$130.00 price target on the stock, up previously from C$125.00. 5/24/2018 – Canadian Imperial Bank of Commerce was downgraded by analysts at National Bank Financial from an “outperform” rating to a “sector perform” rating. They now have a C$124.00 price target on the stock, down previously from C$136.00. 5/24/2018 – Canadian Imperial Bank of Commerce had its price target lowered by analysts at Scotiabank from C$131.00 to C$127.00. They now have a “sector perform” rating on the stock. 5/24/2018 – Canadian Imperial Bank of Commerce had its price target lowered by analysts at Royal Bank of Canada from C$141.00 to C$135.00. They now have a “sector perform” rating on the stock. 5/24/2018 – Canadian Imperial Bank of Commerce was given a new C$140.00 price target on by analysts at Eight Capital. 5/24/2018 – Canadian Imperial Bank of Commerce had its price target raised by analysts at Barclays PLC from C$133.00 to C$138.00.
CM traded up C$0.59 on Wednesday, reaching C$115.86. 987,570 shares of the stock were exchanged, compared to its average volume of 1,290,708. Canadian Imperial Bank of Commerce has a fifty-two week low of C$103.84 and a fifty-two week high of C$124.37.
- [By Lisa Levin] Companies Reporting Before The Bell
Target Corporation (NYSE: TGT) is estimated to report quarterly earnings at $1.38 per share on revenue of $16.50 billion.
Ralph Lauren Corporation (NYSE: RL) is expected to report quarterly earnings at $0.83 per share on revenue of $1.48 billion.
Lowe's Companies, Inc. (NYSE: LOW) is projected to report quarterly earnings at $1.25 per share on revenue of $17.63 billion.
Tiffany & Co. (NYSE: TIF) is estimated to report quarterly earnings at $0.83 per share on revenue of $957.49 million.
Canadian Imperial Bank of Commerce (NYSE: CM) is expected to report quarterly earnings at $2.23 per share on revenue of $3.40 billion.
Citi Trends, Inc. (NASDAQ: CTRN) is projected to report quarterly earnings at $0.9 per share on revenue of $210.70 million.
Qiwi plc (NASDAQ: QIWI) is expected to report quarterly earnings at $0.25 per share on revenue of $60.19 million.
iClick Interactive Asia Group Limited (NASDAQ: ICLK) is projected to report quarterly loss at $0.06 per share on revenue of $34.87 million.
Top 5 Financial Stocks To Buy Right Now: Porter Bancorp Inc.(PBIB)
- [By WWW.GURUFOCUS.COM]
For the details of PATRIOT FINANCIAL PARTNERS GP, LP’s stock buys and sells, go to www.gurufocus.com/StockBuy.php?GuruName=PATRIOT+FINANCIAL+PARTNERS+GP%2C+LP
These are the top 5 holdings of PATRIOT FINANCIAL PARTNERS GP, LPBanc of California Inc (BANC) – 2,850,564 shares, 32.49% of the total portfolio. Meta Financial Group Inc (CASH) – 397,069 shares, 25.6% of the total portfolio. Guaranty Bancorp (GBNK) – 1,391,767 shares, 23.3% of the total portfolio. MBT Financial Corp (MBTF) – 2,060,302 shares, 13.08% of the total portfolio. Sterling Bancorp (STL) – 323,980 shares, 4.31% of the total portfolio.
- [By Max Byerly]
Media stories about Porter Bancorp (NASDAQ:PBIB) have trended somewhat positive this week, Accern Sentiment reports. Accern identifies negative and positive news coverage by analyzing more than twenty million news and blog sources. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Porter Bancorp earned a media sentiment score of 0.07 on Accern’s scale. Accern also gave news coverage about the financial services provider an impact score of 44.3359026173577 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the stock’s share price in the near future.
Top 5 Financial Stocks To Buy Right Now: Old Second Bancorp Inc.(OSBC)
- [By Logan Wallace]
Get a free copy of the Zacks research report on Old Second Bancorp (OSBC)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Top 5 Financial Stocks To Buy Right Now: Home Federal Bancorp Inc.(HOME)
- [By Logan Wallace]
At Home Group (NYSE:HOME) issued an update on its second quarter earnings guidance on Thursday morning. The company provided earnings per share guidance of $0.32-0.33 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.28. The company issued revenue guidance of $284-287 million, compared to the consensus revenue estimate of $283.98 million.At Home Group also updated its FY19 guidance to $1.25-1.30 EPS.
- [By Logan Wallace]
TRADEMARK VIOLATION WARNING: “Positive News Coverage Somewhat Unlikely to Affect At Home (HOME) Stock Price” was published by Ticker Report and is owned by of Ticker Report. If you are accessing this piece on another site, it was illegally copied and republished in violation of U.S. and international trademark & copyright legislation. The correct version of this piece can be read at www.tickerreport.com/banking-finance/3356638/positive-news-coverage-somewhat-unlikely-to-affect-at-home-home-stock-price.html.
- [By ]
Real Money columnist Robert Lang says that while retail “has certainly had its challenges over the past couple of years, between difficulties in the mall and then the big gorilla in the room, Action Alerts PLUS holding Amazon (AMZN) …there are a handful of names that continue to perform well, one of those is At Home Group (HOME) .
- [By Jordan Wathen]
Shares of At Home Group Inc (NYSE:HOME) are plunging, down by nearly 12% as of 3:20 p.m. EDT Wednesday as investors try to handicap the winners and losers in a developing U.S.-China trade war.
Top 5 Financial Stocks To Buy Right Now: Greenlight Capital Re Ltd.(GLRE)
- [By Ethan Ryder]
Greenlight Capital Re (NASDAQ:GLRE) last issued its quarterly earnings results on Monday, April 30th. The financial services provider reported ($3.85) EPS for the quarter, beating the consensus estimate of ($4.43) by $0.58. Greenlight Capital Re had a negative return on equity of 23.81% and a negative net margin of 40.65%. The firm had revenue of $0.14 million during the quarter, compared to analysts’ expectations of $30.20 million. sell-side analysts forecast that Greenlight Capital Re, Ltd. will post -4.2 earnings per share for the current fiscal year.
- [By Max Byerly]
Shares of Greenlight Capital Re, Ltd. (NASDAQ:GLRE) hit a new 52-week low on Wednesday . The company traded as low as $14.05 and last traded at $14.15, with a volume of 249308 shares changing hands. The stock had previously closed at $14.65.