Brokerages expect Archer-Daniels-Midland Company (NYSE:ADM) to announce $17.46 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Archer-Daniels-Midland’s earnings, with the highest sales estimate coming in at $19.96 billion and the lowest estimate coming in at $16.10 billion. Archer-Daniels-Midland posted sales of $15.13 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 15.4%. The firm is expected to announce its next earnings report on Thursday, November 4th.
According to Zacks, analysts expect that Archer-Daniels-Midland will report full year sales of $79.70 billion for the current financial year, with estimates ranging from $76.36 billion to $82.33 billion. For the next year, analysts expect that the company will post sales of $79.26 billion, with estimates ranging from $76.90 billion to $82.67 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover Archer-Daniels-Midland.
Top 5 Financial Stocks For 2023: PIMCO Municipal Income Fund(PMF)
PIMCO Municipal Income Fund is a closed ended fixed income mutual fund launched and managed by Allianz Global Investors Fund Management LLC. It is co managed by Pacific Investment Management Company LLC. The fund invests in the fixed income markets of the United States. It primarily invests in investment grade municipal bonds. The fund employs fundamental analysis with a top down stock picking approach to create its portfolio. It conducts in house research using proprietary models. PIMCO Municipal Income Fund was formed on June 29, 2001 and is domiciled in the United States.
Advisors’ Opinion:
- [By Shane Hupp]
Institutional investors and hedge funds have recently modified their holdings of the business. Lavaca Capital LLC purchased a new stake in Pimco Municipal Income Fund in the fourth quarter worth about $36,000. Lindbrook Capital LLC purchased a new stake in Pimco Municipal Income Fund in the fourth quarter worth about $50,000. Winslow Evans & Crocker Inc. increased its position in Pimco Municipal Income Fund by 46.2% in the fourth quarter. Winslow Evans & Crocker Inc. now owns 9,500 shares of the financial services provider’s stock worth $120,000 after buying an additional 3,000 shares in the last quarter. Cito Capital Group LLC purchased a new stake in Pimco Municipal Income Fund in the fourth quarter worth about $126,000. Finally, GWM Advisors LLC purchased a new stake in Pimco Municipal Income Fund in the fourth quarter worth about $131,000.
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Pimco Municipal Income Fund Company Profile (NYSE:PMF)
Top 5 Financial Stocks For 2023: Bank OZK(OZK)
Bank OZK provides various retail and commercial banking services. The company accepts various deposit products, including non-interest bearing checking, interest bearing transaction, business sweep, savings, money market, individual retirement, and other accounts, as well as time deposits. It also offers real estate, consumer and business purpose, indirect recreational vehicle and marine, commercial and industrial, government guaranteed, agricultural, small business, homebuilder, and affordable housing loans; business aviation and subscription financing services; and mortgage and other lending products. The company also provides trust and wealth services, such as personal, custodial, investment management, and retirement accounts, as well as corporate trust services comprising trustee, paying and registered transfer agent, and other incidental services. In addition, it offers treasury management services comprising automated clearing house, wire transfer, transaction reporting, wholesale lockbox, remote deposit capture, automated credit line transfer, reconciliation, positive pay, and merchant and commercial card services, as well as zero balance and investment sweep accounts. Further, the company provides ATMs; telephone, online, and mobile banking services; debit and credit cards; safe deposit boxes; and other products and services, as well as processes merchant debit and credit card transactions. As of December 31, 2020, it operated approximately 250 offices in Arkansas, Georgia, Florida, North Carolina, Texas, South Carolina, California, New York, and Mississippi. The company was formerly known as Bank of the Ozarks and changed its name to Bank OZK in July 2018. Bank OZK was founded in 1903 and is headquartered in Little Rock, Arkansas.
Advisors’ Opinion:
- [By ]
3. Bank OZK (NYSE: OZK) — Formerly known as Bank of the Ozarks, this small regional lender is a hidden gem. For those who aren’t geography buffs, the Ozark mountains straddle the border between Arkansas and Missouri. I attended college in this part of the country and am personally familiar with this well-run financial institution.
- [By ]
3. Bank OZK (NYSE: OZK) — Formerly known as Bank of the Ozarks, this small regional lender is a hidden gem. For those who aren’t geography buffs, the Ozark mountains straddle the border between Arkansas and Missouri. I attended college in this part of the country and am personally familiar with this well-run financial institution.
- [By Logan Wallace]
A number of institutional investors and hedge funds have recently made changes to their positions in the business. American International Group Inc. grew its position in shares of Bank Ozk by 0.3% during the 4th quarter. American International Group Inc. now owns 246,406 shares of the company’s stock valued at $5,625,000 after acquiring an additional 665 shares during the period. Geode Capital Management LLC grew its position in shares of Bank Ozk by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 1,333,823 shares of the company’s stock valued at $30,451,000 after acquiring an additional 4,086 shares during the period. Epoch Investment Partners Inc. grew its position in shares of Bank Ozk by 20.8% during the 4th quarter. Epoch Investment Partners Inc. now owns 5,370,678 shares of the company’s stock valued at $122,612,000 after acquiring an additional 923,260 shares during the period. Sapience Investments LLC grew its position in shares of Bank Ozk by 502.4% during the 4th quarter. Sapience Investments LLC now owns 393,140 shares of the company’s stock valued at $8,975,000 after acquiring an additional 327,880 shares during the period. Finally, Prudential PLC grew its position in shares of Bank Ozk by 36.3% during the 4th quarter. Prudential PLC now owns 2,769,200 shares of the company’s stock valued at $63,221,000 after acquiring an additional 737,300 shares during the period. 86.53% of the stock is currently owned by institutional investors.
TRADEMARK VIOLATION NOTICE: “Short Interest in Bank Ozk (OZK) Drops By 22.2%” was originally reported by Ticker Report and is the property of of Ticker Report. If you are accessing this news story on another domain, it was copied illegally and republished in violation of United States & international copyright legislation. The original version of this news story can be viewed at www.tickerreport.com/banking-finance/4149949/short-interest
Top 5 Financial Stocks For 2023: Old National Bancorp Capital Trust I(ONB)
Old National Bancorp operates as a holding company for Old National Bank, which provides financial services to individuals and commercial customers primarily in Indiana, eastern and southeastern Illinois, and central and western Kentucky. The company?s Community Banking segment originates loans, such as home equity lines of credit, residential real estate loans, consumer loans, commercial loans, commercial real estate loans, letters of credit, and lease financing; and generates deposit products comprising noninterest-bearing demand, negotiable order of withdrawal, savings and money market, and time deposits. It also offers debit and ATM cards, telephone access, online banking, and other electronic banking services. In addition, this segment provides investment services and various brokerage products, including investment options and investment advice. Further, it offers merchant cash management and other services relating to the general banking business; reinsures credit life insurance; and provides property and casualty insurance. The company?s Treasury segment manages investments, wholesale funding, interest rate risk, liquidity, and leverage for the bank; and provides capital markets products, including interest rate derivatives, foreign exchange, and industrial revenue bond financing for its commercial clients. Old National Bancorp also offers fiduciary and trust services; and insurance brokerage services, such as commercial property and casualty, surety, loss control services, employee benefits consulting and administration, and personal insurance. As of December 31, 2010, it operated 161 banking financial centers, as well as loan production or other financial services offices. The company was founded in 1834 and is headquartered in Evansville, Indiana.
Advisors’ Opinion:
- [By Max Byerly]
Get a free copy of the Zacks research report on Old National Bancorp (ONB)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
- [By Ethan Ryder]
Old National Bancorp (NASDAQ:ONB) was upgraded by stock analysts at BidaskClub from a “sell” rating to a “hold” rating in a research note issued on Friday.
- [By Ethan Ryder]
Bank of New York Mellon Corp lifted its stake in shares of Old National Bancorp (NASDAQ:ONB) by 1.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,451,745 shares of the bank’s stock after buying an additional 57,759 shares during the quarter. Bank of New York Mellon Corp’s holdings in Old National Bancorp were worth $64,203,000 at the end of the most recent reporting period.
- [By Shane Hupp]
SG Americas Securities LLC grew its position in Old National Bancorp (NASDAQ:ONB) by 122.1% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 150,316 shares of the bank’s stock after buying an additional 82,641 shares during the period. SG Americas Securities LLC’s holdings in Old National Bancorp were worth $2,796,000 at the end of the most recent quarter.
Top 5 Financial Stocks For 2023: Macatawa Bank Corporation(MCBC)
Macatawa Bank Corporation operates as the holding company for Macatawa Bank that provides various commercial and personal banking services. It offers various deposit products, which comprise checking accounts, savings accounts, time deposits, transaction accounts, savings and time certificates, non-interest bearing and interest bearing demand deposits, and money market accounts. The company?s loan portfolio comprises commercial and industrial loans, commercial real estate loans, construction and development loans, and multi-family and other non-residential real estate loans; residential mortgage loans; and consumer loans, including automobile loans, home equity lines of credit, installment loans, home improvement loans, deposit account loans, and other loans for household and personal purposes. It also provides cash management services, safe deposit boxes, travelers checks, money orders, and trust services; ATMs, Internet banking, telephone banking, and debit cards; and b rokerage services, including discount brokerage, personal financial planning, and consultation regarding mutual funds. In addition, the company offers personal trust services, such as financial planning, investment management services, trust and estate administration, and custodial services; and retirement plan services, including provision of various qualified retirement plans, such as profit sharing, 401(k)s, and pension plans. It operated a network of 26 branches and a lending and operation service facility in Kent, Ottawa, and northern Allegan counties of Michigan. The company was founded in 1997 and is headquartered in Holland, Michigan.
Advisors’ Opinion:
- [By Joseph Griffin]
Associated Banc (NYSE:ASB) and Macatawa Bank (NASDAQ:MCBC) are both finance companies, but which is the better stock? We will contrast the two companies based on the strength of their institutional ownership, risk, valuation, profitability, analyst recommendations, earnings and dividends.
- [By Max Byerly]
Chemical Financial (NASDAQ: CHFC) and Macatawa Bank (NASDAQ:MCBC) are both finance companies, but which is the better business? We will contrast the two businesses based on the strength of their dividends, earnings, institutional ownership, analyst recommendations, valuation, profitability and risk.
- [By Ethan Ryder]
BidaskClub upgraded shares of Macatawa Bank (NASDAQ:MCBC) from a buy rating to a strong-buy rating in a research note released on Friday morning.
Separately, Hovde Group set a $11.00 price target on Macatawa Bank and gave the stock a hold rating in a research report on Monday, January 29th.
Top 5 Financial Stocks For 2023: Jefferies Financial Group Inc.(JEF)
Jefferies Financial Group Inc. engages in the investment banking and capital markets, asset management, and direct investing businesses in the Americas, Europe, the Middle East, Africa, and Asia. It operates through Investment Banking and Capital Markets, Asset Management, Merchant Banking, and Corporate segments. The company offers financial advisory, equity underwriting, and debt underwriting, as well as corporate lending services; equities research, sales, and trading services; equity finance services comprising financing, securities lending, and other prime brokerage services; and wealth management services to high net worth individuals, their families and businesses, private equity and venture funds, and small institutions. It also provides clients with sales and trading of investment grade corporate bonds, U.S. and European government and agency securities, municipal bonds, mortgage-backed and asset-backed securities, leveraged loans, consumer loans, high yield and distressed securities, emerging markets debt, interest rate, and credit derivative products, as well as foreign exchange trade execution and securitization; and manages, invests in, and provides services to a diverse group of alternative asset management platforms across a spectrum of investment strategies and asset classes. Jefferies Financial Group, Inc. entered into a strategic alliance with Sumitomo Mitsui Financial Group, Inc., Sumitomo Mitsui Banking Corporation and SMBC Nikko Securities Inc. The company was formerly known as Leucadia National Corporation and changed its name to Jefferies Financial Group Inc. in May 2018. Jefferies Financial Group Inc. was founded in 1968 and is headquartered in New York, New York.
Advisors’ Opinion:
- [By Logan Wallace]
BB&T Securities LLC trimmed its holdings in shares of Jefferies Financial Group Inc (NYSE:JEF) by 89.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,267 shares of the financial services provider’s stock after selling 116,435 shares during the period. BB&T Securities LLC’s holdings in Jefferies Financial Group were worth $247,000 as of its most recent SEC filing.
- [By Logan Wallace]
Paloma Partners Management Co purchased a new position in Jefferies Financial Group Inc (NYSE:JEF) in the second quarter, HoldingsChannel reports. The firm purchased 76,251 shares of the financial services provider’s stock, valued at approximately $1,734,000.
- [By Ethan Ryder]
Royce & Associates LP acquired a new stake in shares of Jefferies Financial Group Inc (NYSE:JEF) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 201,151 shares of the financial services provider’s stock, valued at approximately $4,574,000.
- [By Logan Wallace]
Donald Smith & CO. Inc. acquired a new stake in Jefferies Financial Group Inc (NYSE:JEF) in the 2nd quarter, HoldingsChannel reports. The fund acquired 601,442 shares of the financial services provider’s stock, valued at approximately $13,677,000.
