Piermont Capital Management Inc. decreased its position in Genesee & Wyoming (NYSE:GWR) by 8.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,850 shares of the transportation company’s stock after selling 890 shares during the quarter. Piermont Capital Management Inc.’s holdings in Genesee & Wyoming were worth $697,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Genesee & Wyoming by 43.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,815 shares of the transportation company’s stock valued at $300,000 after purchasing an additional 1,160 shares during the last quarter. Logan Capital Management Inc. acquired a new stake in Genesee & Wyoming during the fourth quarter worth approximately $318,000. Global X Management Co. LLC grew its position in Genesee & Wyoming by 75.2% during the fourth quarter. Global X Management Co. LLC now owns 4,265 shares of the transportation company’s stock worth $336,000 after buying an additional 1,830 shares in the last quarter. Snyder Capital Management L P grew its position in Genesee & Wyoming by 24.8% during the fourth quarter. Snyder Capital Management L P now owns 586,146 shares of the transportation company’s stock worth $46,147,000 after buying an additional 116,652 shares in the last quarter. Finally, DF Dent & Co. Inc. grew its position in Genesee & Wyoming by 356.9% during the fourth quarter. DF Dent & Co. Inc. now owns 680,590 shares of the transportation company’s stock worth $53,583,000 after buying an additional 531,625 shares in the last quarter. 95.57% of the stock is currently owned by institutional investors.
Top 10 Bank Stocks For 2019: Wells Fargo & Company(WFC)
Advisors’ Opinion:
- [By Motley Fool Staff]
In this segment of the Motley Fool Money podcast, host Chris Hill is joined by Million Dollar Portfolio’s Jason Moser, Hidden Gems Canada’s David Kretzmann, and Total Income’s Ron Gross to reflect on last week’s business and economic news, and one of the big stories was that once-admired bank Wells Fargo(NYSE:WFC) was taking yet another mea culpa for yet more ways it was abusing its customers’ trust.
- [By ]
Wells Fargo & Co. (WFC) , the U.S. bank already reeling from sanctions by regulators over alleged customer abuses, was fined an additional $1 billion by regulators over allegations over matters including auto insurance and mortgage-sales practices.
- [By Douglas A. McIntyre]
The U.S. Department of Labor is looking into the 401(k) business of Wells Fargo & Co. (NYSE: WFC). According to The Wall Street Journal:
The Labor Department is examining whether Wells Fargo & Co. has been pushing participants in low-cost corporate 401(k) plans to roll their holdings into more expensive individual retirement accounts at the bank, according to a person familiar with the inquiry.
- [By Matthew Frankel]
After the results of the capital plan reviews were announced, most banks individually announced increases (or maintenance) of their stock buybacks and dividends for the next year. Here are a few of the most significant:
Bank of America (NYSE:BAC)will give shareholders a 25% dividend increase to an annualized rate of $0.60 per share and will also increase its buyback authorization to $20.6 billion over the next year, up from the previous year’s $12.9 billion. Citigroup (NYSE:C)is giving shareholders an impressive 41% dividend hike to a quarterly payout of $0.45 per share and is also planning to spend up to $17.6 billion on buybacks over the year, a modest but significant $2 billion increase over the previous plan. Wells Fargo (NYSE:WFC)was one of the big positive surprises, after a tough couple of years for the bank. Wells announced that its dividend will increase to $0.43 per share in the third quarter, and that it plans to spend as much as $24.5 billion on buybacks over the next year — a sharp increase from the past year’s $11.5 billion. JPMorgan Chase (NYSE:JPM)is raising its dividend by 43% to $0.80 per quarter, and is planning to buy back as much as $20.7 billion in shares over the next year, a mild increase from its 2017 capital plan, which called for $19.4 billion in buybacks. U.S. Bancorp (NYSE:USB)plans to increase its dividend by 23% to a quarterly payout of $0.37 and to repurchase as much as $3 billion of its stock over the next year, up from the previous authorization of $2.6 billion. American Express’ (NYSE:AXP)capital plan was closely watched, since the bank had decided to suspend buybacks for the first half of 2018 in order to bolster capital levels. The bank announced that it would repurchase up to $3.4 billion in shares over the next year and also plans to raise its quarterly dividend from $0.35 to $0.39 per share.
And as I mentioned earlier, Goldman Sachs and Morgan Stanley were both instructed to leave their previous capi
- [By Douglas A. McIntyre]
Wells Fargo & Co. (NYSE: WFC), plagued by a long list of banking rule violations and hundreds of millions of dollars in government penalties, has launched a new marketing campaign:
Top 10 Bank Stocks For 2019: Ampco-Pittsburgh Corporation(AP)
Advisors’ Opinion:
- [By ]
This 2011 photo provided by Russell Investments shows Steve Wood, chief market strategist for Russell Investments. Investors are fearful of runaway inflation, and they keep waiting for signs inflation is about to pick up. Most experts agree that inflation is going to speed up, and that the Federal Reserve will keep raising interest rates in order to keep inflation pressures from getting out of control. While the timing is unclear, Wood says its not too soon to prepare. (Photo: AP)
- [By ]
New York (AP) — Four more deaths have been linked to a national food poisoning outbreak blamed on tainted lettuce, bringing the total to five.
Health officials have tied the E. coli outbreak to romaine lettuce grown in Yuma, Arizona. The growing season there ended six weeks ago, and it's unlikely any tainted lettuce is still in stores or people's homes, given its short shelf life. But there can be a lag in reporting, and reports of illnesses have continued to come in.
- [By ]
Des Moines, Iowa (AP) — It's been a billion-dollar lottery weekend after a lone Powerball ticket sold in New Hampshire matched all six numbers and will claim a $570 million jackpot, one day after another single ticket sold in Florida nabbed a $450 million Mega Millions grand prize.
- [By ]
Mexico City (AP) — A powerful magnitude-7.2 earthquake shook south and central Mexico Friday, causing people to flee swaying buildings and office towers in the country's capital, where residents were still jittery after a deadly quake five months ago.
- [By ]
The all-new Hyundai 2018 Kona, a subcompact crossover. (Photo: AP)
When it comes to standard features, the Kona generally outpaces the EcoSport. Most items typically found on rivals are available on both SUVs, but the EcoSport requires that you add them as options or step up to the next trim level. The Kona widens its features lead by offering more advanced safety features (forward collision warning with automatic emergency braking, lane keeping assist and a driver attention monitor), a head-up display and a wireless charging pad. These are not available for any EcoSport.
Top 10 Bank Stocks For 2019: First Commonwealth Financial Corporation(FCF)
Advisors’ Opinion:
- [By Joseph Griffin]
Get a free copy of the Zacks research report on First Commonwealth Financial (FCF)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
- [By Logan Wallace]
Get a free copy of the Zacks research report on First Commonwealth Financial (FCF)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
- [By Joseph Griffin]
Barclays PLC increased its holdings in First Commonwealth Financial (NYSE:FCF) by 24.3% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,717 shares of the bank’s stock after buying an additional 6,593 shares during the period. Barclays PLC’s holdings in First Commonwealth Financial were worth $476,000 as of its most recent SEC filing.
Top 10 Bank Stocks For 2019: Canadian Imperial Bank of Commerce(CM)
Advisors’ Opinion:
- [By Joseph Griffin]
Canadian Imperial Bank of Commerce (NYSE: CM) and Foreign Trade Bank of Latin America (NYSE:BLX) are both finance companies, but which is the superior business? We will contrast the two companies based on the strength of their dividends, profitability, earnings, analyst recommendations, institutional ownership, risk and valuation.
- [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 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 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 Motley Fool Staff]
Canadian Imperial Bank of Commerce (NYSE:CM)Q2 2018 Earnings Conference CallMay 23, 2018, 8:00 a.m. ET
Contents:
Prepared Remarks Questions and Answers Call Participants
Prepared Remarks:Operator
Top 10 Bank Stocks For 2019: HSBC Holdings PLC (HSBA)
Advisors’ Opinion:
- [By Ethan Ryder]
HSBC (LON:HSBA) had its price target dropped by equities research analysts at Citigroup from GBX 810 ($10.78) to GBX 800 ($10.65) in a report released on Tuesday. The brokerage currently has a “buy” rating on the financial services provider’s stock. Citigroup’s price target points to a potential upside of 9.59% from the stock’s previous close.
- [By Joseph Griffin]
HSBC (LON:HSBA) had its target price lowered by equities research analysts at Shore Capital from GBX 721 ($9.60) to GBX 625 ($8.32) in a report issued on Tuesday. The brokerage presently has a “sell” rating on the financial services provider’s stock. Shore Capital’s price objective indicates a potential downside of 14.71% from the company’s previous close.
