Images By Tang Ming Tung Introduction Midland States Bancorp (NASDAQ:MSBI) is a regional bank who has not been exempt from the woes of the banking sector. Higher interest rates and deposit flight have challenged the bank's ability to maintain earnings. Back in March, I discussed why I reversed course and sold the bank's high yielding preferred shares (MSBIP). Today, following their second quarter earnings results, I am still avoiding Midland States common and preferred shares. Midland States Second Quarter ...

The bank has overhauled its management team and taken steps to shore up its balance sheet. New York Community Bancorp (NYCB 0.64%) has had quite a turbulent year, starting earlier this year when it took significant charge-offs on its loan portfolio, resulting in a surprising $2.7 billion fourth-quarter loss. Since then, its CEO has stepped down and it has overhauled its executive leadership, raised equity capital, and sold off large chunks of its mortgage businesses. The bank is undergoing a multiyear proce ...

T II H I alexsl Earnings of Penns Woods Bancorp, Inc. (NASDAQ:PWOD) will likely benefit from residential loan growth. Meanwhile, interest rate cuts will have a mised impact on the margin. Overall, I'm expecting the company to report eamings of $2.24 per share for both 2024 and 2025. The year-end target price suggests a high upside from the current market price. Additionally, PWOD is offering a high dividend yield of 5.9%. Based on the total expected return, I 'm adopting a buy rating on Penns Woods Bancorp. ...

NEW YORK, Aug. 08, 2024 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, is investigating potential claims against Customers Bancorp, Inc. ("Customers Bancorp" or the "Company") (NYSE:CUBI) on behalf of Customers Bancorp stockholders. Our investigation concerns whether Customers Bancorp has violated the federal securities laws and/or engaged in other unlawful business practices. Click here to participate in the action. On April 12, 2024, Customers Bancorp ...

EschCollection The Q2 2024 results gave continuity to what was discussed in my previous article on East West Bancorp (NASDAQ:EWBC). In fact, the dividend continues to grow fast and CRE loans are struggling to increase. In contrast, C&I loans and Residential loans are getting an increasing share of the entire loan portiblio. These trends will presumably continue throughout 2024; perhaps even into the early 2025. Loans and securities portfolio For 2024 as a whole, loan growth is expected from 3-5%, thus quite ...

MCMINNVILLE, Tenn., Aug. 07, 2024 (GLOBE NEWSWIRE) -- Security Bancorp, Inc. ("Company") (OTCBB: "SCYT"), the holding company for Security Federal Savings Bank of McMinnville, Tennessee ("Bank"), today announced its consolidated earnings for the second quarter of its fiscal year ended December 31, 2024. Net income for the three months ended June 30, 2024 was $915,000, or $2.45 per share, compared to $819,000, or $2.24 per share, for the same quarter last year. For the six months ended June 30, 2024, the Com ...

For Immediate Release Chicago, IL – August 7, 2024 – Today, Zacks Equity Research discusses JPMorgan Chase & Co. (JPM) , U.S. Bancorp (USB) and Truist Financial Corporation (TFC) . 3 Stocks From the Prospering Major Regional Banks Industry Industry: Major Banks – Regional Link to article: https://www.zacks.com/commentary/2316839/3-stocks-from-the-prospering-major-regionalbanks-industry The Zacks Major Regional Banks will benefit from the Federal Reserve's interest rate cuts as the deposit costs come down an ...

EFFINGHAM, Ill., Aug. 06, 2024 (GLOBE NEWSWIRE) -- Midland States Bancorp, Inc. (NASDAQ: MSBI) announced today that its Board of Directors declared a quarterly cash dividend of $0.31 per share of its common stock. The dividend is payable on August 23, 2024 to all shareholders of record as of the close of business on August 16, 2024. The Board of Directors also declared a cash dividend of $0.4844 per depository share on its 7.75% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series A. The divide ...

H 1 E 201 r 14 P i in 1 the st r -11-2 1999 Trans H 1 B 110 I ■ 0 000 t e 11 t 1 1 i I . I 1 1 ■■ ----------------- H 1.000 I I the first EXTREME-PHOTOGRAPHER The earnings of BCB Bancorp, Inc. (NASDAQ:BCBP) will most probably start recovering soon because interest rate cuts will lift the net interest margin. Moreover, the loan portfolio's downtrend will likely reverse soon, which will support the bottom line. Overall, I'm expecting the company to report earnings of $1.22 per share for 2024, down 28% year-ov ...

MINEOLA, N.Y., Aug. 02, 2024 (GLOBE NEWSWIRE) -- Michael P. Puorro, Chairman and Chief Executive Officer of Hanover Bancorp, Inc. the bank holding company for Hanover Community Bank, today announced grants to seventeen local not-for-profit organizations as a part of the Federal Home Loan Bank of New York's (FHLBNY) Small Business Recovery Grant Program. Mr. Puorro stated "These organizations are the very heartbeat of the communities we serve, and we are thrilled that this money will help them in fulfilling ...