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Smartkarma Newswire

Selective Insurance (SIGI) Earnings Q3: Adjusted Operating EPS at $1.40 as Shares Dip 3.6%

By | Earnings Alerts
  • Selective Insurance reported a third-quarter adjusted operating EPS of $1.40.
  • The General Liability line saw a renewal pure price increase to 10.2%, up from 7.6% in the second quarter.
  • Following the earnings announcement, shares fell by 3.6% in post-market trading to $93.51 with 3,301 shares traded.
  • Analyst recommendations for the stock include 2 buys, 5 holds, and 1 sell.

Selective Insurance on Smartkarma

Analysts at Baptista Research on Smartkarma have been closely monitoring Selective Insurance Group Inc., providing insightful coverage on the company’s performance and future prospects. In a report titled “Selective Insurance Group Inc.: Enhanced Commercial Lines Pricing and Retention Strategies! – Major Drivers,” analyst John Marchioni discussed the company’s second quarter performance amidst industry-wide challenges. Despite facing pressures such as social inflation affecting liability lines, Selective Insurance remains committed to disciplined underwriting and pricing practices. Baptista Research conducted an independent valuation using a Discounted Cash Flow (DCF) methodology to assess the potential price influences on the company.

In another report, “Selective Insurance Group Inc.: Initiation of Coverage – Focus on Investment Strategy and Asset Allocation! – Major Drivers,” Baptista Research highlighted the mixed financial results of Selective Insurance in the first quarter of 2024. The company showcased achievements such as an operating return on equity (ROE) of 11.7% and a 16% growth in net premiums written, driven by strong pricing and retention strategies. However, challenges like a combined ratio of 98.2% above the target of 95% due to increased reserving actions were noted, providing investors with a nuanced view of the company’s performance.


A look at Selective Insurance Smart Scores

FactorScoreMagnitude
Value3
Dividend3
Growth3
Resilience3
Momentum4
OVERALL SMART SCORE3.2

Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma



Analysts using Smartkarma Smart Scores have provided a positive outlook for Selective Insurance Group, Inc., a company that offers a variety of commercial insurance products. With a solid overall score, including high momentum, Selective Insurance is positioned favorably for the long term. The company shows strength in value, dividend, growth, resilience, and particularly in momentum, indicating positive market performance expectations.

With a balanced set of scores across key factors, Selective Insurance appears well-rounded and stable for future growth. Catering to small to medium-sized businesses, governmental entities, light industry, as well as individual and family customers, the company’s diverse market presence coupled with its positive Smart Scores suggests a promising trajectory in the insurance industry.



Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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Tfi International (TFII) Earnings: Q3 Adjusted EPS Misses Amid Solid Revenue Growth

By | Earnings Alerts
  • TFI International’s adjusted earnings per share (EPS) for the third quarter was $1.60, which is lower than the expected $1.78 but higher than last year’s $1.57.
  • Total revenue for TFI was $2.18 billion, a 14% increase from the previous year, though it fell short of the estimated $2.27 billion.
  • The truckload segment reported significant revenue growth of 80% year-over-year, reaching $722.9 million.
  • Logistics revenue saw a modest increase of 2.5% year-over-year, totaling $426.5 million.
  • LTL (Less-than-Truckload) revenue rose by 7.4% year-over-year to $770.8 million.
  • Operating income was $203.3 million, a slight increase of 1.3% from the previous year, but below the expected $228.4 million.
  • Adjusted EBITDA was $357.2 million, marking an 18% year-over-year growth, yet missing the $371.2 million estimate.
  • Adjusted net income reached $136.6 million, which is a marginal increase of 0.4% from last year, under the estimated $149.5 million.
  • TFI International generated over $350 million in net cash from operating activities and more than $270 million in free cash flow, representing rises of 26% and 37%, respectively, compared to the same period last year.
  • Investment sentiment includes 14 buy recommendations, 4 hold ratings, and 1 sell rating.

A look at Tfi International Smart Scores

FactorScoreMagnitude
Value2
Dividend2
Growth3
Resilience2
Momentum3
OVERALL SMART SCORE2.4

Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma

TFI International Inc, a key player in the transportation and logistics industry, has a mixed outlook based on the Smartkarma Smart Scores. With a moderate score for value and dividend, the company’s true potential lies in its growth and momentum prospects, both scoring higher. TFI International’s strategy of identifying strategic acquisitions and effectively managing its network of subsidiaries positions it well for future growth. Operating in the United States, Canada, and Mexico, the company’s resilience score reflects its ability to navigate challenging market conditions.

In summary, TFI International Inc, a company deeply rooted in transportation and logistics, shows promise for the long term. Its focus on growth and momentum, coupled with a resilient operational model, underpins its potential for future success. With strategic expansion initiatives in play across North America, TFI International is poised to capitalize on opportunities within the industry.


Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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SAP (SAP) Earnings: 3Q Results Surpass Estimates in Critical Revenue Metrics

By | Earnings Alerts
  • SAP’s 3rd quarter non-IFRS revenue was €8.47 billion, meeting the estimate of €8.45 billion.
  • Non-IFRS cloud and software revenue reached €7.43 billion, surpassing the estimate of €7.36 billion.
  • The non-IFRS cloud revenue was €4.35 billion, slightly below the estimate of €4.36 billion.
  • Non-IFRS software licenses revenue amounted to €280 million, exceeding the estimate of €239.7 million.
  • Cloud revenue in constant currencies rose by 27%, above the 25.6% estimate.
  • Gross profit matched the estimates at €6.24 billion.
  • Operating profit was €2.24 billion, higher than the estimated €2.06 billion.
  • Profit after tax was €1.44 billion, beating the estimate of €1.23 billion.
  • Non-IFRS Earnings per Share (EPS) were €1.23, above the €1.20 estimate.
  • Free cash flow significantly outperformed expectations at €1.25 billion against an estimated negative €677 million.
  • SAP maintains its forecast of non-IFRS cloud revenue between €17.0 billion and €17.3 billion for the year, aligning with the €17.11 billion estimate.
  • The company aims to increase the percentage of women in executive roles to 25% by the end of 2027.
  • Analyst recommendations include 21 buys, 7 holds, and 3 sells.

A look at SAP Smart Scores

FactorScoreMagnitude
Value2
Dividend2
Growth3
Resilience4
Momentum5
OVERALL SMART SCORE3.2

Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma

Analysts at Smartkarma have assessed SAP SE based on various factors crucial for long-term investment decisions. The company’s overall outlook is positive, with solid scores across different categories. SAP scored moderately in the areas of value and dividend, indicating that it offers reasonable investment potential and dividend returns. Moreover, with a stronger score in growth, SAP is positioned for expansion and development in the future. The company’s high resilience score reflects its ability to withstand market challenges effectively. Additionally, SAP’s momentum score is the highest, suggesting that the company has strong positive market traction.

SAP SE, a multinational software company known for developing business software solutions, including e-business and enterprise management software, is well-positioned for future growth and success based on Smartkarma’s analysis. With a global presence and a focus on providing top-notch software and training services, SAP’s outlook remains promising. Investors seeking a company with a balanced mix of value, growth potential, resilience, and market momentum may find SAP an appealing long-term investment option.


Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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American Capital Agency Corp (AGNC) Earnings: 3Q Interest Income Surpasses Estimates, Strong Economic Return Reported

By | Earnings Alerts
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  • AGNC Investment reported a net interest loss of $64 million for the third quarter, compared to a $3 million loss in the previous quarter.
  • Interest income increased by 27% year-over-year to $756 million, surpassing the estimated $729.6 million.
  • Interest expenses also rose by 27% year-over-year to $820 million, higher than the estimated $626.8 million.
  • The company’s net spread and dollar roll income per share was 43 cents, below the expected 51 cents.
  • Tangible book value per share was $8.82, up from $8.08 the previous year, and exceeded the estimated $8.73.
  • The economic return on tangible common equity was a positive 9.3%, compared to a negative 10.1% last year, beating the estimate of 8.28%.
  • The average asset yield, including TBA position, was 4.73%, up from 4.2% in the prior year.
  • The average total cost of funds increased to 2.52% from 1.17% last year, slightly above the estimate of 2.44%.
  • The annualized net interest spread, including TBA position and interest rate swaps, was 2.21%, down from the previous year’s 3.03%, but slightly above the estimate of 2.18%.
  • Cash and cash equivalents decreased by 4.3% from the previous quarter to $507 million, below the estimate of $630.4 million.
  • CEO Peter Federico highlighted a strong economic return of 9.3%, driven by book value growth and a stable monthly dividend of $0.12 per share for 55 months.
  • The outlook for Agency MBS is better compared to 2022 and 2023, supported by a positive economic direction and favorable monetary policy.
  • Analyst ratings include 9 buy recommendations, 6 hold recommendations, and no sells.

“`


American Capital Agency Corp on Smartkarma

Smartkarma, an independent investment research network, has recently featured coverage on American Capital Agency Corp by Value Investors Club. The report, titled “Agnc Investment Corp (AGNCP) – Thursday, Feb 15, 2024,” provides insights into a high-return opportunity in mortgage REIT preferreds, specifically focusing on AGNC Investment Corp’s Series F preferred shares. The author emphasizes systematic mispricing that allows for attractive 13-20% IRRs over 12-36 months, with a relatively safe investment profile. Stressing the safety and high yield of mREIT preferreds, the report highlights the potential for significant returns while minimizing borrower credit risk.


A look at American Capital Agency Corp Smart Scores

FactorScoreMagnitude
Value4
Dividend5
Growth2
Resilience2
Momentum4
OVERALL SMART SCORE3.4

Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma

AGNC Investment Corp., a real estate investment trust focusing on residential mortgage-backed securities, has received positive Smart Scores across various factors. With a high Dividend score of 5, investors can expect steady income distributions. The Value score of 4 indicates that the company’s stock may be undervalued, potentially presenting a good buying opportunity. Momentum and Resilience scores of 4 and 2, respectively, suggest a solid performance trend and moderate ability to withstand adverse conditions. However, lower Growth score at 2 implies slower expansion prospects for the company in the long run.

Overall, American Capital Agency Corp‘s Smart Scores paint a picture of a company that offers strong dividend returns, value potential for investors, and a stable performance history. With a focus on government-backed securities and serving customers within the United States, AGNC Investment Corp. may appeal to income-focused investors looking for a reliable option in the real estate investment trust sector.


Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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Traton SE (8TRA) Earnings: Q3 Adjusted Operating Profit Surpasses Estimates with Strong Margin Performance

By | Earnings Alerts
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  • Traton’s preliminary 3rd quarter adjusted operating profit is €1.14 billion, surpassing estimates of €1.05 billion.
  • The preliminary adjusted operating margin is 9.6%, exceeding the forecasted 8.8% margin.
  • The improved operating result is attributed to quicker recovery at International Motors, specifically concerning mirror supply issues.
  • Scania Vehicles & Services contributed positively due to a more favorable price and product mix.
  • Traton maintains its 2024 full-year business outlook.
  • Full 3rd quarter results are scheduled for release on October 28th.
  • There are 13 buy recommendations, 8 hold recommendations, and 0 sell recommendations for Traton’s stock.

“`


Traton SE on Smartkarma

Analysts on Smartkarma, like Janaghan Jeyakumar, CFA, are closely watching Traton SE, the commercial vehicle manufacturer. Janaghan’s report, “Quiddity Leaderboard DAX/MDAX Mar 24,” suggests that Traton could outperform the market. Traton is seen as a strong candidate for addition to the MDAX index, with potential catalysts from expected index flows. The analysis also discusses possible index changes leading up to the June 2024 review, pointing out M&A candidate MorphoSys AG as a potential deletion from the index.


A look at Traton SE Smart Scores

FactorScoreMagnitude
Value4
Dividend5
Growth5
Resilience2
Momentum4
OVERALL SMART SCORE4.0

Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma

Traton SE, a company specializing in the design and manufacturing of automobiles, is showing a positive long-term outlook based on the Smartkarma Smart Scores. With high scores in Dividend and Growth, indicating strong potential for consistent payouts to investors and future expansion respectively, Traton seems well-positioned for sustained success in the market. Additionally, its solid scores in Value and Momentum further bolster its overall outlook, reflecting favorable indicators for investors looking towards the company for potential returns.

However, Traton SE does face a challenge in the Resilience category, with a lower score of 2. This suggests some vulnerability in terms of adapting to tough market conditions or unforeseen events. Despite this, the company’s strengths in other key areas make it an attractive prospect for investors seeking a balance of stability and growth in the automotive industry.


Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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AP Moeller – Maersk A/S (MAERSKB) Earnings: Surpassing Estimates with Revised FY Outlook

By | Earnings Alerts
  • Maersk has increased its forecast for the full-year underlying EBITDA to a range of $11.0 billion to $11.5 billion, previously expected to be between $9 billion to $11 billion. Estimates were around $10.14 billion.
  • The new forecast for underlying EBIT is set between $5.2 billion to $5.7 billion, up from the earlier estimate of $3 billion to $5 billion. The previous estimate stood at $4.14 billion.
  • Global container trade is expected to grow by 6%, compared to a previous forecast of 4% to 6% growth.
  • Preliminary third-quarter results show an EBITDA of $4.8 billion, surpassing the estimate of $3.63 billion.
  • Preliminary EBIT for the third quarter is $3.3 billion, beating the estimated $2.29 billion.
  • Revenue for the third quarter is preliminarily reported at $15.8 billion, exceeding the estimated $14.75 billion.
  • Maersk attributes the upgraded outlook to strong third-quarter results and robust container market demand, alongside the ongoing Red Sea situation.
  • The company anticipates a full-year 2024 free cash flow of at least $3 billion.
  • Analyst recommendations include 12 buys, 9 holds, and 8 sells for Maersk.

AP Moeller – Maersk A/S on Smartkarma

Analyst coverage of AP Moeller – Maersk A/S on Smartkarma reveals a mixed sentiment among independent analysts. Daniel Hellberg‘s research highlights the surprising decline in revenue and EBITDA for Maersk in Q224, despite the industry’s soaring spot container rates. However, the company has adjusted its guidance upwards for FY24, indicating strategic shifts in managing spot exposure. On the other hand, Hellberg notes the resilience of container shipping pricing and volume growth, although recent fluctuations in spot rates have led to the closure of certain trade suggestions.

In a contrasting view, Hellberg also emphasizes the impact of geopolitical events on the container shipping industry, noting that a potential Israel-Hamas ceasefire may not immediately lower container rates. As the peak Summer shipping season unfolds and spot rates drive contract rate increases, the industry faces both uncertainty and opportunity. Despite challenges, including geopolitical tensions, Maersk and other container carriers have demonstrated resilience and growth potential throughout 2024, as indicated by Hellberg’s analysis.


A look at AP Moeller – Maersk A/S Smart Scores

FactorScoreMagnitude
Value5
Dividend5
Growth2
Resilience4
Momentum2
OVERALL SMART SCORE3.6

Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma

AP Moeller – Maersk A/S, a conglomerate with diversified holdings, is positioned favorably for long-term success based on its Smartkarma Smart Scores. With top ratings in both the Value and Dividend categories, the company demonstrates strength in providing solid returns to investors while maintaining financial stability. Additionally, its Resilience score highlights its ability to weather economic fluctuations effectively, adding to its attractiveness as a long-term investment.

While AP Moeller – Maersk A/S shows room for improvement in the Growth and Momentum categories, the overall outlook remains positive due to its strong foundation and robust performance in key areas. As a global player with interests in various industries such as shipping, oil exploration, and industrial operations, the company’s diversified portfolio further enhances its long-term prospects and attractiveness to investors seeking stability and consistent returns.


Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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Union Bank Of India (UNBK) Earnings: 2Q Net Income Surpasses Estimates with a 34% Increase

By | Earnings Alerts
  • Union Bank of India reported a net income of 47.2 billion rupees for the second quarter, marking a 34% increase year-over-year, exceeding estimates of 37.89 billion rupees.
  • Gross non-performing assets decreased slightly to 4.36% from the previous quarter’s 4.54%.
  • Provisions dropped by 38% quarter-over-quarter to 17.1 billion rupees.
  • Interest income rose by 8.6% year-over-year to 267.1 billion rupees.
  • Interest expense increased by 14% year-over-year, totaling 176.6 billion rupees.
  • Other income saw a significant rise of 44% year-over-year, reaching 53.3 billion rupees.
  • Provision for loan losses increased by 52% quarter-over-quarter to 25 billion rupees.
  • The bank’s operating profit grew by 12% year-over-year to 81.1 billion rupees.
  • Analyst recommendations include 9 buys, 1 hold, and 1 sell.

A look at Union Bank Of India Smart Scores

FactorScoreMagnitude
Value5
Dividend5
Growth4
Resilience5
Momentum2
OVERALL SMART SCORE4.2

Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma

Union Bank of India Limited, a prominent banking institution offering a comprehensive suite of financial services across India, is poised for a promising long-term outlook based on its Smartkarma Smart Scores analysis. With top-notch scores in Value, Dividend, and Resilience, the bank demonstrates strength in key areas. A high Value score signifies that the company is potentially undervalued in the market, presenting an opportunity for investors. Coupled with a solid Dividend score reflecting the bank’s ability to provide stable returns to shareholders, Union Bank’s strong Resilience score indicates its capacity to weather economic uncertainties.

While the bank shows robust performance in several aspects, there is room for improvement in Momentum based on its score. Enhanced Momentum could potentially drive greater investor interest and market performance over time. Overall, Union Bank of India stands out as a reliable financial institution with a positive trajectory, underpinned by its solid fundamentals and strategic positioning in the banking sector.

Summary: Union Bank of India Limited is a leading bank in India that offers a wide range of banking services, including retail, commercial, investment, and treasury services. With a strong presence in the market and a focus on customer-centric solutions such as online tele-banking, the bank is well-positioned for sustainable growth and success in the long run.


Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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Banco do Brasil (BBAS3) Earnings: BB Seguridade August Premiums Drop by 12.7%

By | Earnings Alerts
  • BB Seguridade experienced a decline in written premiums by 12.7% in August.
  • The total value of written premiums for the month amounted to R$1.75 billion.
  • Among analysts covering the company, there are 6 buy recommendations.
  • Additionally, the company has 7 hold recommendations from analysts.
  • There is also 1 sell recommendation for BB Seguridade.

A look at Banco do Brasil Smart Scores

FactorScoreMagnitude
Value4
Dividend5
Growth4
Resilience2
Momentum3
OVERALL SMART SCORE3.6

Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma

Analysts have evaluated Banco do Brasil S.A.’s long-term prospects through the Smartkarma Smart Scores. These scores highlight the company’s overall outlook across various key factors. With strong ratings in Value, Dividend, and Growth, Banco do Brasil is positioned favorably in terms of financial health and potential for returns. However, lower scores in Resilience and Momentum indicate potential areas of concern, suggesting some vulnerability to market shifts and a lack of strong upward momentum.

Banco do Brasil S.A. is a bank known for attracting deposits and providing a range of banking services, including loans, asset management, insurance, and more. While the company shows promise in value and dividends, investors may want to carefully consider its resilience and momentum in the market for a comprehensive view of its long-term prospects.


Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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Atlantic Union Bankshares (AUB) Earnings Surge as Credit Loss Provisions Drop 48% in Q3

By | Earnings Alerts
  • Atlantic Union’s provision for credit losses for the third quarter was $2.60 million, a 48% year-over-year decrease, surpassing the estimated $6.26 million.
  • Earnings per Share (EPS) rose to 82 cents from 68 cents year-over-year.
  • The company’s Return on Average Assets increased to 1.24%, up from 1.04% year-over-year, exceeding the estimated 1.21%.
  • The Net Interest Margin improved slightly to 3.31% from 3.27% year-over-year.
  • Adjusted Operating EPS increased to 83 cents from 80 cents year-over-year.
  • Atlantic Union announced plans to acquire Sandy Spring for $34.93 per share in a deal valued at $1.6 billion.
  • John C. Asbury, CEO of Atlantic Union, commented on the solid financial results and the positive impact of the American National Bankshares acquisition.
  • Stock analyst ratings for Atlantic Union included 3 buys, 1 hold, and 0 sells.

A look at Atlantic Union Bankshares Smart Scores

FactorScoreMagnitude
Value4
Dividend4
Growth3
Resilience3
Momentum4
OVERALL SMART SCORE3.6

Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma

According to Smartkarma Smart Scores, Atlantic Union Bankshares shows promise for long-term growth and stability. With high scores in Value and Dividend at 4, investors may find the company to be a good value proposition with promising dividend potential. Its Momentum score of 4 indicates a positive trend in stock performance, suggesting optimism in the market. While Growth and Resilience scores are slightly lower at 3, the overall outlook for Atlantic Union Bankshares seems solid.

Atlantic Union Bankshares is a banking services provider catering to customers in the United States. Offering a range of financial products such as checking accounts, lending, credit cards, online and mobile banking, as well as wealth and treasury management services. The company’s above-average scores in Value, Dividend, and Momentum highlight its potential for investors seeking a stable yet prosperous investment in the banking sector.


Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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Atlantic Union Bankshares (AUB) Earnings: Q3 Results Show Improved EPS and Net Interest Margin

By | Earnings Alerts
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  • Atlantic Union’s net interest margin increased to 3.31% from 3.27% compared to the previous year.
  • Earnings per share (EPS) rose to 82 cents, up from 68 cents year-over-year.
  • The provision for credit losses dropped by 48% year-over-year to $2.60 million, significantly below the estimated $6.26 million.
  • Return on average assets increased to 1.24% from 1.04% the previous year, which is above the estimated 1.21%.
  • Adjusted operating EPS increased to 83 cents from 80 cents year-over-year.
  • Atlantic Union announced an agreement to acquire Sandy Spring in an all-stock transaction valued at $1.6 billion, offering $34.93 per share.
  • The goodwill associated with Atlantic Union’s acquisition of American National Bankshares totaled $287.5 million as of September 30, 2024.
  • John C. Asbury, CEO, expressed confidence in the enhanced earnings power due to the American National Bankshares acquisition.
  • The company has received three buy ratings, one hold rating, and no sell ratings from analysts.

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A look at Atlantic Union Bankshares Smart Scores

FactorScoreMagnitude
Value4
Dividend4
Growth3
Resilience3
Momentum4
OVERALL SMART SCORE3.6

Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma

Looking at the Smartkarma Smart Scores, Atlantic Union Bankshares Corporation seems to have a positive long-term outlook. With strong scores in Value and Dividend at 4 each, the company is deemed to be financially sound and rewarding for investors looking for steady returns. While Growth and Resilience are rated slightly lower at 3, the company still shows promise in these areas. Moreover, with a Momentum score of 4, Atlantic Union Bankshares appears to be gaining traction and attracting attention in the market.

Atlantic Union Bankshares Corporation offers various banking services to customers in the United States, including checking accounts, lending, credit cards, online and mobile banking, as well as wealth and treasury management services. With its solid Smart Scores, investors may find Atlantic Union Bankshares to be a reliable option for long-term growth and income generation in the banking sector.


Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
Have feedback on this article? Concerned about the content? Get in touch with us directly.


 

πŸ’‘ Before it’s here, it’s on Smartkarma

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  • βœ“ Unlimited Research Summaries
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  • βœ“ Company Analytics and News
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