Instant Loan – Payday Advance USCA http://paydayadvanceusca.com/ Thu, 24 Nov 2022 07:59:23 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://paydayadvanceusca.com/wp-content/uploads/2021/07/icon-4.png Instant Loan – Payday Advance USCA http://paydayadvanceusca.com/ 32 32 Wolfspeed, Inc. (NYSE:WOLF) Receives Consensus ‘Moderate Buy’ Recommendation From Analysts https://paydayadvanceusca.com/wolfspeed-inc-nysewolf-receives-consensus-moderate-buy-recommendation-from-analysts/ Thu, 24 Nov 2022 06:21:23 +0000 https://paydayadvanceusca.com/wolfspeed-inc-nysewolf-receives-consensus-moderate-buy-recommendation-from-analysts/ Wolfspeed, Inc. (NYSE:WOLF – Get Rating) has been assigned an average rating of “Moderate Buy” by the nineteen research firms that cover the stock, reports MarketBeat.com. Two research analysts gave the stock a sell rating, two gave the company a hold rating and eleven gave the company a buy rating. The 1-year average price target […]]]>

Wolfspeed, Inc. (NYSE:WOLF – Get Rating) has been assigned an average rating of “Moderate Buy” by the nineteen research firms that cover the stock, reports MarketBeat.com. Two research analysts gave the stock a sell rating, two gave the company a hold rating and eleven gave the company a buy rating. The 1-year average price target among brokers who have hedged the stock over the past year is $106.06.

Several equity analysts have commented on WOLF shares. Oppenheimer raised his price target on Wolfspeed shares from $105.00 to $120.00 and gave the stock an “outperform” rating in a Thursday, Aug. 18 research report. Wells Fargo & Company lowered its price target on Wolfspeed shares from $130.00 to $110.00 and set an “overweight” rating for the company in a Thursday, Oct. 27 research note. Piper Sandler cut her price target on Wolfspeed shares from $130.00 to $100.00 in a Thursday, October 27 report. BMO Capital Markets cut its price target on Wolfspeed shares from $100.00 to $85.00 and set a “market performance” rating on the stock in a Thursday, Oct. 27 research report. Finally, Goldman Sachs Group raised its price target on Wolfspeed shares from $108.00 to $124.00 and gave the company a “buy” rating in a Friday, Aug. 19 research note.

Wolfspeed stock up 1.2%

NYSE:WOLF shares opened at $91.94 on Thursday. The company has a quick ratio of 3.97, a current ratio of 4.61 and a debt ratio of 0.62. The company has a fifty-day simple moving average of $96.87 and a 200-day simple moving average of $92.21. Wolfspeed has a 12 month minimum of $58.07 and a 12 month maximum of $129.09. The company has a market capitalization of $11.42 billion, a P/E ratio of -70.18 and a beta of 1.36.

Insider activity at Wolfspeed

Separately, director Duy Loan T. Le purchased 2,000 shares of the company in a transaction dated Friday, November 18. The shares were acquired at an average price of $91.04 per share, with a total value of $182,080.00. Following the purchase, the director now directly owns 29,662 shares of the company, valued at approximately $2,700,428.48. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Separately, director Duy Loan T. Le purchased 2,000 shares of the company in a trade on Friday, November 18. The shares were purchased at an average price of $91.04 per share, for a total transaction of $182,080.00. Following the acquisition, the administrator now directly owns 29,662 shares of the company, valued at $2,700,428.48. The acquisition was disclosed in a filing with the Securities & Exchange Commission, accessible via this hyperlink. Additionally, director Duy Loan T. Le purchased 1,000 shares of the company in a trade on Tuesday, November 1. The shares were acquired at an average cost of $77.26 per share, for a total transaction of $77,260.00. Following completion of the transaction, the administrator now owns 25,662 shares of the company, valued at $1,982,646.12. Disclosure of this purchase can be found here. 0.62% of the shares are currently held by insiders.

Hedge funds weigh on Wolfspeed

Hedge funds and other institutional investors have recently changed their stock holdings. Crossmark Global Holdings Inc. increased its stake in Wolfspeed by 5.2% in Q1. Crossmark Global Holdings Inc. now owns 10,670 shares of the company valued at $1,214,000 after purchasing an additional 530 shares in the last quarter. PFS Investments Inc. increased its holdings of Wolfspeed shares by 4.6% in the first quarter. PFS Investments Inc. now owns 61,839 shares of the company valued at $7,041,000 after purchasing an additional 2,702 shares last quarter. Rothschild Investment Corp IL increased its stake in Wolfspeed by 26.6% in the second quarter. Rothschild Investment Corp IL now owns 15,700 shares of the company valued at $996,000 after purchasing an additional 3,300 shares during the period. Amalgamated Bank increased its position in Wolfspeed by 1.1% during the 1st quarter. Amalgamated Bank now owns 84,090 shares of the company worth $9,574,000 after purchasing an additional 954 shares during the period. Finally, Essex Investment Management Co. LLC increased its position in Wolfspeed by 1.8% during the 1st quarter. Essex Investment Management Co. LLC now owns 50,210 shares of the company worth $5,717,000 after purchasing an additional 907 shares during the period.

About Wolfspeed

(Get a rating)

Wolfspeed, Inc is an innovator of Wolfspeed power and radio frequency (RF) semiconductors. Its Wolfspeed product families include silicon carbide materials, power switching devices and RF devices for applications such as electric vehicles, fast-charging inverters, power supplies, telecommunications, military and industrial. aerospace.

Further reading

Analyst recommendations for Wolfspeed (NYSE: WOLF)

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New York Mortgage Trust, Inc. (NASDAQ:NYMT) Given the average recommendation of “Hold” by brokerages https://paydayadvanceusca.com/new-york-mortgage-trust-inc-nasdaqnymt-given-the-average-recommendation-of-hold-by-brokerages/ Tue, 22 Nov 2022 08:17:54 +0000 https://paydayadvanceusca.com/new-york-mortgage-trust-inc-nasdaqnymt-given-the-average-recommendation-of-hold-by-brokerages/ New York Mortgage Trust, Inc. (NASDAQ:NYMT – Get Rating) has received a consensus recommendation of “Hold” from the nine research firms that currently cover the company, Marketbeat Ratings reports. Two equity research analysts gave the stock a sell rating, two gave the company a hold rating and three gave the company a buy rating. The […]]]>

New York Mortgage Trust, Inc. (NASDAQ:NYMT – Get Rating) has received a consensus recommendation of “Hold” from the nine research firms that currently cover the company, Marketbeat Ratings reports. Two equity research analysts gave the stock a sell rating, two gave the company a hold rating and three gave the company a buy rating. The 12-month average price target among analysts who have rated the stock over the past year is $3.82.

Several equity research analysts have recently released reports on the company. Jonestrading lowered its price target on New York Mortgage Trust from $4.25 to $4.00 and set a “buy” rating on the stock in a research report on Thursday, August 4. TheStreet downgraded the New York Mortgage Trust from a “c-” rating to a “d+” rating in a Wednesday, August 3 research report. B. Riley reduced his price target on New York Mortgage Trust from $5.50 to $5.00 and set a “buy” rating for the company in a Tuesday, October 25 research note. StockNews.com upgraded the New York Mortgage Trust to a “sell” rating in a Friday, Nov. 11 research note. Finally, Credit Suisse Group reduced its price target on New York Mortgage Trust to $3.00 in a research note on Thursday, October 13.

Hedge funds weigh on New York Mortgage Trust

Institutional investors and hedge funds have recently changed their positions in the company. BNP Paribas Arbitrage SNC increased its stake in New York Mortgage Trust shares by 52.1% in the third quarter. BNP Paribas Arbitrage SNC now owns 177,540 shares of the real estate investment trust worth $415,000 after buying an additional 60,811 shares last quarter. Thrivent Financial for Lutherans increased its stake in New York Mortgage Trust by 4.2% during the third quarter. Thrivent Financial for Lutherans now owns 390,458 shares of the real estate investment trust worth $914,000 after buying an additional 15,897 shares in the last quarter. Vanguard Group Inc. increased its stake in New York Mortgage Trust by 2.6% during the third quarter. Vanguard Group Inc. now owns 26,414,738 shares of the real estate investment trust worth $61,810,000 after purchasing an additional 664,045 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in New York Mortgage Trust shares by 16.9% in Q3. Price T Rowe Associates Inc. MD now owns 218,229 shares of the real estate investment trust worth $511,000 after buying 31,562 additional shares in the last quarter. Finally, Evergreen Capital Management LLC bought a new stock position in New York Mortgage Trust in Q3 for about $26,000. Institutional investors and hedge funds own 54.74% of the company’s shares.

New York mortgage trust shares fall 0.4%

NASDAQ:NYMT shares opened at $2.74 on Tuesday. The company has a debt ratio of 2.35, a quick ratio of 11.57 and a current ratio of 11.57. New York Mortgage Trust has a 1-year minimum of $2.07 and a 1-year maximum of $3.99. The stock has a market capitalization of $1.02 billion, a P/E ratio of -3.86 and a beta of 1.70. The stock has a 50-day simple moving average of $2.56 and a 200-day simple moving average of $2.77.

New York Mortgage Trust Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 26. Investors of record on Monday, September 26 received a dividend of $0.10 per share. The ex-dividend date was Friday, September 23. This represents an annualized dividend of $0.40 and a yield of 14.60%. New York Mortgage Trust’s payout ratio is currently -56.34%.

New York Mortgage Trust Company Profile

(Get an assessment)

New York Mortgage Trust, Inc. acquires, invests, finances and manages single-family and multi-family residential mortgage-related assets in the United States. Its focused investments include residential loans, second mortgages and business loans; structured multifamily real estate investments, such as preferred stock and mezzanine loans to owners of multifamily properties, as well as joint venture equity investments in multifamily properties; residential non-agency mortgage-backed securities (RMBS); Agency RMBS; commercial mortgage-backed securities (CMBS); and other mortgages, residential housing and credit-related assets.

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Analyst Recommendations for New York Mortgage Trust (NASDAQ: NYMT)

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Corinthian College borrowers have been promised immediate loan relief. They are still waiting https://paydayadvanceusca.com/corinthian-college-borrowers-have-been-promised-immediate-loan-relief-they-are-still-waiting/ Fri, 18 Nov 2022 11:00:00 +0000 https://paydayadvanceusca.com/corinthian-college-borrowers-have-been-promised-immediate-loan-relief-they-are-still-waiting/ The Biden administration in June promised comprehensive relief for student borrowers from Corinthian College, a move that would affect some 500,000 people following the school’s cheating scandal. But since then, debtors tell The Hill the process has been riddled with inconsistencies, confusion, finger-pointing and a lack of communication from the Department for Education about their […]]]>

The Biden administration in June promised comprehensive relief for student borrowers from Corinthian College, a move that would affect some 500,000 people following the school’s cheating scandal.

But since then, debtors tell The Hill the process has been riddled with inconsistencies, confusion, finger-pointing and a lack of communication from the Department for Education about their loan relief. .

Some borrowers and advocates fear the program could take months, if not years, while issues are ironed out between loan service providers and the administration.

In June, Vice President Harris announced student debt relief for borrowers at Corinthian College, which closed in 2015 for allegedly defrauding its students.

The for-profit school had more than 100 Everest, Herald and WyoTech campuses across the United States before an investigation found the school was inflating placement rates and lying to students about transferring credits.

After it closed, Corinthian borrowers could seek borrower defense until repayment, which allowed some students to receive debt relief due to school wrongdoing.

Harris’s announcement, however, said all Corinthian borrowers would get full debt relief whether or not they filed for Borrower Defence.

This decision was presented as a victory by the administration in the following months.

Two days after the announcement, Education Secretary Miguel Cardona tweeted that Corinthian borrowers “had $5.6 billion in loans immediately cancelled.”

But immediate forgiveness has been sporadic and the relief process has been confusing for borrowers.

In a Facebook group titled “Loan Discharge: Corinthian Colleges/Heald/Wyotech/Everest,” borrowers have been venting their frustrations for months.

Megan Caplan, a 34-year-old mother in the group who went to Everest College, told The Hill she had not received any communication from the Department of Education since the June announcement.

She received a letter from her loan officer in July saying her account was in forbearance, meaning she would not have to repay the loans, but has had no communication with them since.

Other Corinthian borrowers who have been in contact with their loan managers and the Department of Education say they have received single-minded and conflicting responses.

Kevin, a 56-year-old Everest College graduate, said: “Every time I call [my loan service provider]all they tell me is that we have no information and we have to wait for information from the Ministry of Education.

Kevin applied for Borrower Defense in 2018.

In a screenshot provided to The Hill, the Federal Office of Student Aid told Kevin via live chat that it “can sometimes take weeks, months or years” before a request for defense of borrowers is approved.

In terms of the timeline for debt relief after the administration’s announcement in June, the official said they don’t have that information and “the release of Corinthian College is coming in waves.”

Still, the effort was not completely wasted.

Some Corinthian borrowers received loan relief. Some members of the Corinthian Facebook group said they once logged into their student loan account to find that their loans had been canceled, but without notification.

A lawyer who works with student borrowers told The Hill they see Corinthian borrowers who have submitted borrower defense claims over the years getting debt relief first.

But complications arise when Corinthian borrowers fail to complete the Borrower’s Defense Application. The process becomes more complicated when information such as the identity of borrowers, the type of loans a borrower has and the repayments borrowers are eligible for must be understood, according to the attorney.

Becky, a 41-year-old woman who has been to Everest and is also part of the Facebook group, told The Hill she received a letter from the Department of Education telling her her loans had been canceled , but she still didn’t know how to get a refund. .

“I called Navient and they told me to call the [Department of Education]. So I called them and they told me to call Navient,” Becky said when asked if she had reached out to determine her eligibility. “Neither of them knows anything.

Confusion between loan servicers and the Department of Education is not new, say student loan advocates.

“They are both at fault. Student loan managers are poor at their job and the Department of Education is not acting with the urgency it needs and this is creating more confusion among borrowers,” said Braxton Brewington, Debt Press Officer. Collective, at The Hill.

Scott Buchanan, executive director of the Student Loan Servicing Alliance, a nonprofit trade association, acknowledged a lack of communication from the department regarding guidance for student debt relief programs.

Buchanan said the challenge took place over “five different major announcements”, with some programs undergoing “major changes”.

In August, the administration announced relief of at least $10,000 for all federal student loan borrowers earning less than a certain income. The administration also announced comprehensive debt relief for those who went to the ITT Technical Institute, another institution the Department of Education says defrauded its students.

“Working through all of this logistics is very, very difficult,” Buchanan said. “We have to wait for the Ministry of Education to give specific guidance on how this discount is going to be applied,” adding that they should be able to verify borrowers eligible for the discount.

Some proponents argue that repairers aren’t immune to miscommunication either.

“Service agents need to do a better job of articulating the world as it is to borrowers,” said Persis Yu, executive director and general counsel at the Student Borrower Protection Center (SBPC). “One of the things we’ve seen historically is that with these ads, instead of saying something as simple as ‘we don’t know yet, we’re getting specifics’, repairmen will consistently give out the wrong information. ”

In a statement to The Hill, the Department of Education highlighted the success of processing borrower defense requests and fixing the program “after the previous administration failed to approve a single set of new findings on their entire term of office”.

“In contrast, we approved the most borrower defense applications of any jurisdiction, signed comprehensive relief for more than one million borrowers to receive a total of $14 billion in discharges, and strengthened our oversight by re-establishing the Office of Enforcement within the FSA,” said Under Secretary James Kvaal.

Over the past week, the department has been able to process and approve approximately 750,000 borrower defense requests for borrowers from schools who defrauded them, including former Corinthian Colleges students. To date, the department has also been able to discharge loans for approximately 53,000 students from for-profit schools such as Corinthian College ITT Technical Institute and Marinello who defrauded their students.

It remains unclear when the thousands of borrowers who are still waiting for relief will see it.

The attorney who works with student borrowers said the department most likely avoids giving a set deadline. He has already missed deadlines by promising debt relief.

In September 2021, a small group of 12,000 Corinthian borrowers were promised full debt relief within six months. Most of those borrowers are now receiving relief, but the department missed the six-month deadline, the lawyer said.

The lawyer estimated that it would take more than a year for some Corinthian borrowers to see their relief.

Those who have already submitted Borrower Defense Applications may see relief in the coming months, while those who have not applied may have to wait until 2024.

But some are more optimistic about the timeline.

“I don’t think the years are an appropriate characterization,” Buchanan said. “I think for most of these borrowers in a reasonable time here.”

Some believe the wait would be more tolerable if borrowers received better communication.

“If they were to share an expected timeline of when people should see this relief instead of asking people to check the void every day, when will this be actualized,” Brewington said. “There really should be more communication between the Department of Education, borrowers and student loan servicers.”

As they wait in limbo, frustration mounts.

A Facebook group administrator described Corinthian borrowers as “angry” and “confused” about the whole situation.

“Angry that their lives are on hold due to the fraudulent debt,” the administrator said. “Confusion with other release announcements and courts blocking” further student debt relief.

“The Biden-Harris administration will continue to stand up for borrowers who were deceived by their colleges and clear the backlog created by the previous administration to ensure borrowers receive the relief they deserve,” Kvaal said.

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Banco Macro SA plans a monthly dividend of $0.08 (NYSE: BMA) https://paydayadvanceusca.com/banco-macro-sa-plans-a-monthly-dividend-of-0-08-nyse-bma/ Tue, 15 Nov 2022 23:22:04 +0000 https://paydayadvanceusca.com/banco-macro-sa-plans-a-monthly-dividend-of-0-08-nyse-bma/ Bank Macro SA (NYSE:BMA – Get Rating) declared a monthly dividend on Tuesday, November 15, The Wall Street Journal reports. Shareholders of record on Friday, November 25 will receive a dividend of 0.0787 per share from the bank on Friday, December 2. This represents a dividend of $0.94 on an annualized basis and a yield […]]]>

Bank Macro SA (NYSE:BMA – Get Rating) declared a monthly dividend on Tuesday, November 15, The Wall Street Journal reports. Shareholders of record on Friday, November 25 will receive a dividend of 0.0787 per share from the bank on Friday, December 2. This represents a dividend of $0.94 on an annualized basis and a yield of 7.09%. The ex-date of this dividend is Wednesday, November 23.

Banco Macro has a dividend payout ratio of 1.7%, which means its dividend is sufficiently covered by earnings. Research analysts expect Banco Macro to earn $4.31 per share next year, meaning the company should continue to be able to cover its annual dividend of $0.08 with a ratio of expected future payout of 1.9%.

Banco Macro is trading down 2.7%

Banco Macro stock traded down $0.37 during trading hours on Tuesday, hitting $13.32. The company had a trading volume of 225,802 shares, compared to an average volume of 244,625. The company has a leverage ratio of 0.16, a current ratio of 0.79 and a quick ratio of 0.79. Banco Macro has a 12-month low of $9.72 and a 12-month high of $18.05. The company has a market capitalization of $851.69 million, a price-earnings ratio of 3.26 and a beta of 1.25. The company has a 50-day moving average price of $15.07 and a 200-day moving average price of $13.95.

Banco Macro (NYSE:BMA – Get Rating) last released its results on Wednesday August 24th. The bank reported earnings per share (EPS) of $0.52 for the quarter, missing the consensus estimate of $0.62 per ($0.10). Banco Macro posted a net margin of 9.30% and a return on equity of 10.70%. The company posted revenue of $552.75 million for the quarter, compared to $404.78 million expected by analysts. Stock analysts expect Banco Macro to post earnings per share of 3.35 for the current year.

Institutional entries and exits

A number of hedge funds and other institutional investors have recently changed their holdings in BMA. UBS Group AG increased its equity stake in Banco Macro by 980.3% during the third quarter. UBS Group AG now owns 3,889 shares in the bank valued at $56,000 after buying an additional 3,529 shares last quarter. JPMorgan Chase & Co. increased its position in Banco Macro by 456.9% during the first quarter. JPMorgan Chase & Co. now owns 6,298 shares of the bank valued at $109,000 after acquiring 5,167 additional shares in the last quarter. Renaissance Technologies LLC acquired a new stake in Banco Macro during the second quarter at a value of $134,000. Engineers Gate Manager LP acquired a new stake in Banco Macro during the first quarter worth $253,000. Finally, BlackRock Inc. increased its position in Banco Macro by 3.7% during the first quarter. BlackRock Inc. now owns 20,798 shares of the bank valued at $360,000 after acquiring 747 additional shares in the last quarter. 5.52% of the shares are held by institutional investors.

Analysts set new price targets

Several research companies have recently published reports on BMA. TheStreet upgraded Banco Macro from a “c” to a “b-” rating in a Friday, September 16 research note. StockNews.com supported Banco Macro’s coverage in a Wednesday, October 12 research note. They issued a “buy” rating on the stock. One equity research analyst has assigned the stock a sell rating, one has issued a hold rating and two have assigned the company’s stock a buy rating. According to MarketBeat, Banco Macro has an average rating of “Hold” and a consensus target price of $17.70.

About Banco Macro

(Get an assessment)

Banco Macro SA provides various banking products and services to individuals and businesses in Argentina. It offers various retail banking products and services, such as savings and checking accounts, term deposits, credit and debit cards, consumer loans, mortgages, auto loans, overdrafts , credit-related services, home and auto insurance coverage, tax collection, utility payments, automated teller machines (ATMs), and money transfers.

Read more

Dividend history for Banco Macro (NYSE:BMA)

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Short-term stake in Millicom International Cellular SA (NASDAQ:TIGO) increases by 37.2% https://paydayadvanceusca.com/short-term-stake-in-millicom-international-cellular-sa-nasdaqtigo-increases-by-37-2/ Sat, 12 Nov 2022 22:23:11 +0000 https://paydayadvanceusca.com/short-term-stake-in-millicom-international-cellular-sa-nasdaqtigo-increases-by-37-2/ Millicom International Cellular SA (NASDAQ:TIGO – Get Rating) saw strong growth in short-term interest in October. As of October 31, there was short interest totaling 370,300 shares, a growth of 37.2% from the total of 269,800 shares as of October 15. Based on an average trading volume of 169,900 shares, the short interest ratio is […]]]>

Millicom International Cellular SA (NASDAQ:TIGO – Get Rating) saw strong growth in short-term interest in October. As of October 31, there was short interest totaling 370,300 shares, a growth of 37.2% from the total of 269,800 shares as of October 15. Based on an average trading volume of 169,900 shares, the short interest ratio is currently 2.2 days.

Performance of Millicom International Cellular shares

TIGO stock traded down $0.24 on Friday, hitting $13.25. The company’s shares had a trading volume of 380,547 shares, compared to an average volume of 185,166. The company has a 50-day moving average of $11.99 and a two-hundred-day moving average of 15.00 $. Millicom International Cellular has a 1 year minimum of $10.22 and a 1 year maximum of $37.00. The stock has a market capitalization of $1.35 billion, a price-earnings ratio of 1.75 and a beta of 0.93. The company has a current ratio of 1.03, a quick ratio of 0.99 and a debt ratio of 1.88.

Millicom International Cellular (NASDAQ:TIGO – Get Rating) last released its quarterly results on Thursday, October 27. The technology company reported EPS ($0.20) for the quarter. The company had revenue of $1.39 billion in the quarter. Millicom International Cellular achieved a net margin of 13.65% and a return on equity of 20.35%.

Analysts set new price targets

TIGO has been the subject of several recent analyst reports. UBS Group launched coverage on Millicom International Cellular shares in a research report on Monday, August 29. They set a “neutral” rating and a price target of $16.50 for the company. Goldman Sachs Group cut its price target on Millicom International Cellular shares from $29.05 to $18.00 and set a “neutral” rating for the company in a Friday, August 26 research report. Finally, HSBC restated a “reduced” rating and set a price target of $14.00 on Millicom International Cellular shares in a Monday, August 22 research report. One equity research analyst has assigned the stock a sell rating, two have issued a hold rating and three have assigned the company a buy rating. According to MarketBeat.com, Millicom International Cellular currently has an average rating of “Hold” and an average price target of $24.56.

Hedge funds weigh on Millicom International Cellular

Major investors have recently been buying and selling shares of the company. IFP Advisors Inc acquired a new position in Millicom International Cellular during the 3rd quarter for a value of $64,000. Advisor Group Holdings Inc. increased its position in Millicom International Cellular by 261.5% during the 1st quarter. Advisor Group Holdings Inc. now owns 1,128 shares of the technology company worth $28,000 after buying 816 additional shares in the last quarter. AlphaMark Advisors LLC increased its position in Millicom International Cellular by 108.9% during the 1st quarter. AlphaMark Advisors LLC now owns 1,274 shares of the technology company worth $32,000 after buying 664 additional shares in the last quarter. Lazard Asset Management LLC bought a new position in Millicom International Cellular during Q1 for $50,000. Finally, UBS Group AG increased its equity stake in Millicom International Cellular by 539.7% during the first quarter. UBS Group AG now owns 2,482 shares of the technology company worth $62,000 after purchasing an additional 2,094 shares during the period. Hedge funds and other institutional investors own 6.95% of the company’s shares.

About Millicom International Cellular

(Get a rating)

Millicom International Cellular SA provides cable and mobile services in Latin America and Africa. The Company offers mobile services, including mobile data and voice; short message service; and mobile financial services, such as payments, money transfers, international remittances, savings, real-time loans and microinsurance.

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MONEYLION INC. Management’s Discussion and Analysis of Financial Condition and Results of Operations (Form 10-Q) https://paydayadvanceusca.com/moneylion-inc-managements-discussion-and-analysis-of-financial-condition-and-results-of-operations-form-10-q/ Thu, 10 Nov 2022 21:08:31 +0000 https://paydayadvanceusca.com/moneylion-inc-managements-discussion-and-analysis-of-financial-condition-and-results-of-operations-form-10-q/ The following Management's Discussion and Analysis of Financial Condition and Results of Operations summarizes the significant factors affecting the consolidated operating results, financial condition, liquidity and capital resources of MoneyLion and is intended to help the reader understand MoneyLion, our operations and our present business environment. This discussion should be read in conjunction with MoneyLion's […]]]>
The following Management's Discussion and Analysis of Financial Condition and
Results of Operations summarizes the significant factors affecting the
consolidated operating results, financial condition, liquidity and capital
resources of MoneyLion and is intended to help the reader understand MoneyLion,
our operations and our present business environment. This discussion should be
read in conjunction with MoneyLion's unaudited consolidated financial statements
and notes to those financial statements included in Part I, Item 1 "Financial
Statements" within this Quarterly Report on Form 10-Q. References to "we," "us,"
"our," "Company" or "MoneyLion" refer to MoneyLion Technologies Inc. and, as
context requires, its wholly-owned subsidiaries for the periods prior to the
Business Combination Closing Date and to MoneyLion Inc. and, as context
requires, its wholly-owned subsidiaries for the period thereafter. "Fusion"
refers to Fusion Acquisition Corp. for the periods prior to the Business
Combination Closing Date.

Reclassification-The acquisitions of MALKA and Even Financial and related
ongoing integration activities have caused significant changes to the revenue
and cost structure of the Company such that the organization of financial
statement line items in both the consolidated balance sheets and the
consolidated statements of operations used in prior reporting periods were no
longer sufficient to properly present the Company's financial condition and
results of operations as of March 31, 2022. Reclassifications have been
performed relative to the previous presentation of the consolidated balance
sheet as of December 31, 2021 and the consolidated statement of operations for
the three and nine months ended September 30, 2021 to present in a new format
that better represents the new revenue and cost structure of the Company. The
reclassifications had no impact on previously reported total assets, total
liabilities or net income (loss) and an immaterial impact on total revenue, net.
There was no impact on the consolidated statements of cash flows or consolidated
statements of redeemable convertible preferred stock, redeemable noncontrolling
interests and stockholders' equity (deficit). There are also related
reclassifications and expanded disclosure, where necessary, contained within the
notes to the consolidated financial statements.

Insight


MoneyLion is the go-to destination for personalized financial content, products
and advice. We provide consumers a full suite of financial and non-financial
solutions, bundling proprietary, low-cost financial products with products that
are offered through our marketplace and network affiliate partners. We engage
and educate our customers with daily, money-related and money-adjacent content,
delivered through a personalized feed, to empower our customers at all times.
When our customers enjoy periods of financial excess, we provide tools for them
to easily manage their spending and saving goals through our digital banking and
automated investing solutions. When our customers experience moments of
financial need, we provide them immediate access to innovative lending or earned
income advance products and credit improvement programs that can bridge these
times of financial stress and improve their financial health. We also leverage
our distinct data, technology and network advantages to deliver leading embedded
finance marketplace solutions for our Enterprise Partners, allowing them to
better connect with existing end-users and reach new potential end-users,
complemented by advertising services and digital media and content production
services custom designed to promote Enterprise Partners' products and services.
We believe that the combination of solutions that MoneyLion provides uniquely
positions us to disrupt how financial products are consumed, unlocking a total
addressable market that we estimate to be over $274 billion.


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The Company’s primary consumer product offerings include:


RoarMoney Premium Mobile Banking - RoarMoney is our Federal Deposit Insurance
Corporation-insured digital demand deposit account with zero minimums, premium
features and rewards. Our RoarMoney demand deposit accounts are currently issued
by Pathward, N.A. ("Pathward") (f/k/a MetaBank, N.A.), a South Dakota-based,
nationally chartered bank owned by Pathward Financial, Inc. (NASDAQ: CASH)
(f/k/a M. Customers can open a RoarMoney account in minutes through the
MoneyLion mobile application, add funds to their account and begin spending
using a RoarMoney virtual debit card. RoarMoney accounts also include a physical
MoneyLion Debit Mastercard that can be used at any of the approximately 55,000
Allpoint ATM network locations to make no-fee withdrawals. We earn revenue from
interchange fees from payment networks based on customer expenditures on the
debit card, as well as transaction volume-based incentive payments from the
payment network. We also earn revenue from cardholder fees such as a small
monthly administrative fee charged to our customers, a fee charged to customers
when an out-of-network ATM is utilized to withdraw cash, a foreign transaction
fee charged to our customers on purchases outside of the U.S. or in a currency
other than U.S. dollars and instant transfer fees. Both interchange fees,
payment network payments and cardholder fees are reflected in service and
subscription fees. We incur direct costs in connection with the RoarMoney
account offering, which include fees paid to the payment networks and our
partner bank.

Personalized Investing - MoneyLion Investing is an online investment account
that offers access to separately managed accounts invested based on model
portfolios comprised of ETFs and managed on a discretionary basis. Advisory
services related to the MoneyLion investment account are provided by ML Wealth
LLC ("ML Wealth"), an SEC-registered investment adviser and an indirect
wholly-owned subsidiary of MoneyLion. Brokerage and custodial services are
provided by DriveWealth LLC, a third-party provider. This fully-managed account
model allows customers to set their investment strategy and let ML Wealth manage
investment decisions to implement that strategy on a discretionary basis. An
investment account holder simply identifies their investing comfort zone to
receive a personalized portfolio, a mix of stock and bond ETFs. Our managed
investment account is available on a standalone basis. Through MoneyLion
Investing, customers are able to develop sound investing habits by enabling
certain account features, including auto-investing and round ups. Auto-investing
allows our customers to automatically contribute into their investment account
with recurring deposits directly into the account. With round ups, customers can
also choose to automatically round up purchases made either on their RoarMoney
account or an external bank account to the nearest dollar. The accrued round ups
can then be transferred into the customer's MoneyLion Investing account and
invested in accordance with the customer's chosen investment strategy. We earn
revenue from a small monthly administration fee from our customers who use this
product, which is reflected in service and subscription fees.

Crypto - MoneyLion Crypto is an online cryptocurrency account that enables
customers to buy, sell and hold cryptocurrency. The account is provided by Zero
Hash LLC and its affiliate, Zero Hash Liquidity Services LLC (collectively,
"Zero Hash"). The Zero Hash entities are registered as money services businesses
with FinCEN and hold active money transmitter licenses (or the state equivalent
of such licenses) in all U.S. states and the District of Columbia except for (i)
California, Indiana and Wisconsin, where Zero Hash relies upon licensing
exemptions; (ii) Montana, which does not currently have a money transmitter
licensing requirement; and (iii) Hawaii. The Zero Hash entities currently engage
in crypto asset activities in all U.S. states and the District of Columbia
except for Hawaii. RoarMoney accountholders can open a MoneyLion Crypto account
through the MoneyLion mobile application and fund it via their RoarMoney
account. In addition, customers can also choose to automatically round up
purchases made either on their RoarMoney account or an external bank account to
the nearest dollar. The accrued round ups can then be transferred into the
customer's MoneyLion Crypto account and invested in Bitcoin. As of December 31,
2021, the only cryptocurrencies available through the MoneyLion Crypto account
were Bitcoin and Ether. In January 2022, MoneyLion Crypto expanded to include
Bitcoin Cash and Litecoin. Both MoneyLion and Zero Hash must consent in writing
before adding any additional digital assets to the program. We earn revenue from
Zero Hash as they pay us a share of the fees that they earn from our customers
in exchange for MoneyLion enabling Zero Hash to effect digital currency-related
transactions for our customers. This revenue is reflected in service and
subscription fees.


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Instacash - Instacash is our 0% APR advance product that gives customers early
access to their recurring income deposits. Customers can access Instacash
advances at any time during a regular deposit period up to their advance limit,
providing customers with the flexibility to cover temporary cash needs and avoid
costly overdraft fees. There are no fees associated with regular delivery of
funds to either a RoarMoney account (typically delivered within 12-48 hours) or
an external checking account (typically delivered within two to five business
days). However, customers have the option to pay an additional fee in order to
receive their funds on an expedited basis (typically within minutes or less),
the amount of which is based on the amount of the disbursement and whether the
funds are delivered to a RoarMoney account or an external checking account.
Customers may also choose to leave MoneyLion an optional tip for use of the
Instacash service. We earn revenue from tips and instant transfer fees, both
reflected in service and subscription fees.

Credit Builder Plus - Our Credit Builder Plus membership program offers a proven
path for our customers to access credit and establish or rebuild history, build
savings, establish financial literacy and track their financial health. For a
monthly cost of $19.99, customers receive a suite of services including banking
and investment accounts, credit tracking and financial literacy content, rewards
programs and access to loans of up to $1,000 at competitive rates offered by
MoneyLion lending subsidiaries, allowing our customers to establish up to twelve
months of payment history with all three credit bureaus. We offer our Credit
Builder Plus members access to the Lion's Share Loyalty Program, where members
can earn rewards of up to $19.99 per month. We earn revenue from monthly
subscription fees paid by our customers. These fees are reflected in service and
subscription fees. As part of the Credit Builder Plus membership program,
members may apply for a Credit Builder Plus secured personal loan. In addition
to a free standard disbursement option, we also offered our customers an option
to disburse their funds to their MoneyLion-serviced RoarMoney bank account or
external bank account on an expedited basis for an instant transfer fee. This
instant disbursement option for Credit Builder Plus loans was removed in the
second quarter of 2021. We earn revenue from interest income, reflected in net
interest income on finance receivables, and, prior to the removal of the instant
disbursement option, instant transfer fees, reflected in service and
subscription fees.

Financial Tracking - We offer our customers access to financial tracking tools
such as Financial Heartbeat, GamePlan and credit score tracking. Financial
Heartbeat is an intelligent, automated tool that guides customers on their
financial journey. Financial Heartbeat evaluates customers' financial situation
across four key dimensions: SAVE (savings and financial preparedness), SPEND
(spending and personal budget), SHIELD (insurance needs and coverage) and SCORE
(credit tracking and health). Through our easy-to-use interface, customers can
review the key issues impacting their financial situation, decide what actions
to take, evaluate which products to use and receive guidance on how to stay
motivated on their journey towards financial wellness. GamePlan provides our
customers with a personalized action plan, including a checklist with tasks,
meant to help them reach their financial goals across different categories such
as spending, saving and more. Financial tracking tools are offered to our
customers at no cost and we do not earn revenue from these services.

MoneyLife - Consistent with our vision of establishing MoneyLion as a lifestyle
brand, in 2021 we introduced MoneyLife, an online financial education content
destination which is delivered to customers in the MoneyLion mobile application
via a content feed. MoneyLife is an influencer-focused, video content-driven
educational platform where customers can share and discover ideas, advice and
insights regarding their financial lives. MoneyLife includes highly personalized
content driven by financial advice and education influencers, tools to achieve
financial goals and additional ways of earning rewards to shop and save. Our
acquisition of MALKA, a creator network and content platform, accelerated our
ability to engage with consumers across all digital and emerging channels,
allowing us to directly connect with communities natively inside and outside of
our platform. Through MoneyLife and the content feed, we provide an additional
daily destination site for current customers, drive additional prospective
customers to MoneyLion and increase customer engagement and cross-sell
opportunities for both MoneyLion and its affiliate partners.


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The company’s primary business service offerings include:


Affiliate Marketing Program - We work with various affiliate partners that offer
products or services that we may recommend to our customers via display ads,
offers or campaigns through our digital platforms. Our customers can access
these offers on a standalone basis. We earn revenue from fees from our affiliate
partners based on a range of criteria depending on each affiliate relationship
including, but not limited to, customers' clicks, impressions, completed
transactions or a share of revenue generated for the affiliate partner. This
revenue is reflected in enterprise service revenues.

Even Financial Marketplace - Through Even Financial's software platform, we
connect and match consumers with real-time personalized financial product
recommendations from banks, insurance and fintech companies on mobile apps and
websites by enabling the display of offers for financial products to consumers.
Our infrastructure leverages machine learning and advanced data science to solve
a significant pain point in financial services customer acquisition, bridging
Product Partners and Channel Partners via Even Financial's API and embedded
finance marketplaces. Even Financial's network includes over 400 Product
Partners and 550 Channel Partners, covering a breadth of financial services
including loans, credit cards, mortgages, savings, and insurance products. We
earn revenue, which is reflected in enterprise service revenue, from our Product
Partners based on performance structure. We incur direct costs related to the
fees paid to our Channel Partners.

Digital Media and Content Production - Through MALKA, we offer digital media and
content production services provided to enterprise clients in entertainment,
sports, gaming, live streaming and other sectors. We produce content across
every digital medium, from creative advertising campaigns and original branded
content to e-gaming livestreams, podcast series, feature length documentaries,
sports representation and marketing. We earn revenue, which is reflected in
enterprise service revenue, from our enterprise clients based on performance
obligations within our contracts with them.

RECENT DEVELOPMENTS

Recent events that have had an impact on our activities are as follows:


COVID-19 - The COVID-19 pandemic has caused substantial changes in consumer
behavior, restrictions on business and individual activities and high
unemployment rates, which led to reduced economic activity and may continue to
cause economic volatility. There continue to be significant uncertainties
associated with the COVID-19 pandemic, including with respect to the ultimate
course, duration and severity of the virus and additional variants, future
actions that may be taken by governmental authorities and private businesses to
contain the COVID-19 pandemic or to mitigate its impact and the effectiveness of
such actions, the timing and speed of economic recovery and the ultimate
effectiveness of vaccinations for COVID-19.

In response to the economic uncertainty caused by the pandemic, during 2021, we
made certain operational changes and implemented certain consumer support
programs which were immaterial to our performance. For example, we reduced our
marketing activities such as advertising through digital platforms, which have
since returned to pre-pandemic levels, and also reduced our sponsorship
arrangements with third parties. In addition, we implemented underwriting policy
changes on a targeted basis to more closely manage credit risk while we further
evaluated market conditions. Our underwriting models are dynamic relative to
real time changes in our customer's income and credit profiles and our credit
performance remained steady as our underwriting models quickly adapted to these
changes. To further support our customers, we expanded our payment deferral
options and reduced certain fees, while providing them with relevant content and
resources on topics like unemployment insurance and stimulus checks. For
instance, for our secured personal loan customers with no prior missed payments,
we offered payment deferrals based on a customer's payment frequency, ranging
from one payment deferral for monthly payments and up to three payment deferrals
for weekly payments. For our Instacash customers with an outstanding advance, we
allowed them to change the scheduled repayment date by up to 14 days. Once the
advance was repaid, the customer could request another change to the scheduled
repayment on another advance. While there is no limit to the number of changes a
customer may be granted, they are limited to one at a time and per advance.
Despite the economic uncertainty as a result of COVID-19, we have increased the
number of customers on our platform.


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Management will continue to monitor the nature and extent of the potential impact on the business as the pandemic continues.

Business combinations – Since January 1, 2021we carried out the following business combinations:

Merger with Fusion - On September 22, 2021, Legacy MoneyLion completed the
Business Combination with Fusion and became a publicly traded company. The
Business Combination was accounted for as a reverse recapitalization in
accordance with U.S. GAAP, for which Legacy MoneyLion was determined to be the
accounting acquirer. Since the Business Combination was accounted for as a
reverse recapitalization, no goodwill or other intangible assets were recorded,
in accordance with U.S. GAAP. Under this method of accounting, Fusion was
treated as the "acquired" company for financial reporting purposes. Operations
prior to the Business Combination are those of Legacy MoneyLion. See Part II,
Item 8 "Business Combination" in the Company's Annual Report on Form 10-K for
the fiscal year ended December 31, 2021 for additional information.

MALKA Acquisition - On November 15, 2021, MoneyLion completed its acquisition of
MALKA (the "MALKA Acquisition"). MALKA is a creator network and content platform
that provides digital media and content production services to us and to its own
clients in entertainment, sports, gaming, live streaming and other sectors. The
MALKA Acquisition accelerated MoneyLion's ability to engage with consumers
across all digital and emerging channels, allowing MoneyLion to directly connect
with communities natively inside and outside of its existing platform. MALKA
operates as an indirect, wholly-owned subsidiary of MoneyLion Inc. with MALKA's
pre-acquisition management team leading day-to-day operations.

Related to the closing of the MALKA Acquisition, MoneyLion issued 3,206,167 in
restricted shares of MoneyLion Class A Common Stock and paid approximately $10.0
million in cash to the sellers in exchange for all of the issued and outstanding
membership interests of MALKA. The Closing Make-Whole Provision (as defined
herein) related to the restricted shares of MoneyLion Class A Common Stock
issued was valued at $10,870 as of the MALKA Acquisition Closing Date. MoneyLion
also paid down approximately $2.2 million of MALKA debt facilities. The sellers
may earn up to an additional $35 million payable in restricted shares of
MoneyLion Class A Common Stock if MALKA's revenue and EBITDA exceeds certain
targets in 2021 and 2022. The total purchase price of the MALKA Acquisition was
approximately $52.7 million.

Even Acquisition - On February 17, 2022, MoneyLion completed its acquisition of
Even Financial (the "Even Acquisition"). Even Financial utilizes its software
platform to connect and match consumers with real-time personalized financial
product recommendations from banks, insurance and fintech companies on mobile
apps and websites by enabling the display of offers for financial products to
consumers through its platform. Even Financial's infrastructure leverages
machine learning and advanced data science to solve a significant pain point in
financial services customer acquisition, seamlessly bridging Product Partners
and Channel Partners via its industry-leading API and embedded finance
marketplaces.

The Even Acquisition strengthened MoneyLion's platform by improving consumers'
abilities to find and access the right financial products to help them manage
their financial lives. Even Financial's growing network includes over 400
Product Partners and 550 Channel Partners, covering a breadth of financial
services including loans, credit cards, mortgages, savings and insurance
products. The Even Acquisition also expanded MoneyLion's addressable market,
extended the reach of MoneyLion's own products, diversified its revenue mix and
furthered MoneyLion's ambition to be the premier financial super app for
hardworking Americans.

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At the closing of the Even Acquisition, the Company (i) issued to the
equityholders of Even Financial an aggregate of 28,164,811 shares of the
Company's Series A Redeemable Convertible Preferred Stock, along with an
additional 529,120 shares of Series A Redeemable Convertible Preferred Stock to
advisors of Even Financial for transaction expenses, valued at $0.2 million,
(ii) paid to certain Even Financial management equityholders approximately $14.5
million in cash and (iii) exchanged 8,883,228 options to acquire Even Financial
common stock for 5,901,846 options to acquire MoneyLion Class A Common Stock, of
which the vested portion at the acquisition date was valued at $8.9 million. The
equityholders and advisors of Even Financial are also entitled to receive an
additional payment from the Company of up to an aggregate of 8,000,000 shares of
Series A Redeemable Convertible Preferred Stock, based on the attributed revenue
of Even Financial's business during the 13-month period commencing January 1,
2022 (the "Earnout"), and certain recipients of options to acquire shares of
MoneyLion Class A Common Stock are entitled to receive dividend equivalents in
lieu of receiving Series A Redeemable Convertible Preferred Stock, subject to
certain conditions (the "Preferred Stock Equivalents"). The combined value of
the Earnout and Preferred Stock Equivalents was $45.3 million as of the closing
of the Even Acquisition. The total purchase price was approximately $270
million, subject to customary purchase price adjustments for working capital and
inclusive of amounts used to repay approximately $5.7 million of existing
indebtedness of Even Financial and pay $2.9 million of seller transaction costs.

Factors affecting our performance


The Company is subject to a number of risks including, but not limited to, the
need for successful development of products, the need for additional capital (or
financing) to fund operating losses, competition from substitute products and
services from larger companies, protection of proprietary technology, dependence
on key individuals and risks associated with changes in information technology.

Growth in new customers and increased usage among existing customers


Our ability to effectively acquire new customers through our acquisition and
marketing efforts and drive usage of our products across our existing customers
is key to our growth. We invested in the platform approach and believe our
customers' experience is enhanced by using our full product suite as we can
better tailor the insights and recommendations. In turn, this generates higher
revenue and lifetime value from our customer base.

Product expansion and innovation


We believe in the platform approach and providing relevant products to our
customers to help them better manage their financial lives, both in times of
need and excess. We will continue to invest in enhancing our existing suite of
products and developing new products. Any factors that impair our ability to do
so may negatively impact our efforts towards retaining and attracting customers.

General economic and market conditions


Our performance is impacted by the relative strength of the overall economy,
market volatility, consumer spending behavior and consumer demand for financial
products and services. The willingness of our customers to spend, invest, or
borrow may fluctuate with their level of disposable income. Other factors such
as interest rate fluctuations or monetary policies may also impact our
customers' behavior and our own ability to fund advances and loan volume.

Competition


We compete with several larger financial institutions and technology platforms
that offer similar products and services. We compete with those that offer both
single point solutions similar to any one of our products as well as more
integrated, complete solutions. Some of our competitors may have access to more
resources than we do and thus may be able to offer better pricing or benefits to
our customers.


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Pricing of our products


We derive a substantial portion of our revenue from fees earned from our
products. The fees we earn are subject to a variety of external factors such as
competition, interchange rates and other macroeconomic factors, such as interest
rates and inflation, among others. We may provide discounts to customers who
utilize multiple products to expand usage of our platform. We may also lower
pricing on our products to acquire new customers. For example, we offer our
customers discounts such as Shake 'N' Bank cashback and other cashback rewards
opportunities as part of our RoarMoney bank account product offering and such
discounts are provided to customers based on eligible MoneyLion debit card
transactions. On average, approximately 40% of our eligible RoarMoney bank
account customers receive this benefit. We also offer our Credit Builder Plus
members access to our Lion's Share Loyalty Program where members can earn up to
$19.99 per month. The size of the Lion's Share reward depends on a customer's
number of logins into the MoneyLion app and purchases using their RoarMoney
account in that month. On average, approximately 25% of our Credit Builder Plus
members who met the minimum eligibility criteria received a Lion's Share reward.

The range of products


We offer various products and services on our platform, including a membership
program, loans, cash advances, affiliate offers and cryptocurrency, investment
and bank accounts. Each product has a different profitability profile. The
relative usage of products with high or low profitability and their lifetime
value could have an impact on our performance.

Access and cost of finance


Our credit products and other receivables were primarily financed through IIA
until the end of the fourth quarter of 2021. Beginning in the fourth quarter of
2021, we transitioned our primary source of funding for originated receivables
from IIA to special purpose vehicle financings from third-party institutional
lenders. Loss of one or more of the financing sources we have for our credit
products and other receivables could have an adverse impact on our performance,
and it could be costly to obtain new financing.

Key performance indicators


We regularly review several metrics, including the following key metrics, to
evaluate our business, measure our performance, identify trends affecting our
business, formulate financial projections and make strategic decisions.

Total number of customers


We define Total Customers as the cumulative number of customers that have opened
at least one account, including banking, membership subscription, secured
personal loan, cash advance, managed investment account, cryptocurrency account
and customers that are monetized through our marketplace and affiliate products.
Total Customers also include customers that have submitted for, received or
clicked on at least one marketplace loan offer. Previously, Total Customers
included all customers that submitted for or clicked on an offer through our
marketplace but were not necessarily monetized, which we changed beginning in
the third quarter of 2022 in order to more accurately reflect management's view
of our customers. We consider Total Customers to be a key performance metric as
it can be used to understand lifecycle efforts of our customers, as we look to
cross-sell products to our customer base and grow our platform. Total Customers
were 5.4 million and 2.7 million as of September 30, 2022 and 2021,
respectively. Total Customers for all prior periods have been recast to present
the updated definition of Total Customers.


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Total products


We define Total Products as the total number of products that our Total
Customers have opened, including banking, membership subscription, secured
personal loan, cash advance, managed investment account, cryptocurrency account
and monetized marketplace and affiliate products, as well as customers who
signed up for our financial tracking services (with either credit tracking
enabled or external linked accounts), whether or not the customer is still
registered for the product. Total Products also include marketplace loan offers
that our Total Customers have submitted for, received or clicked on through our
marketplace. If a customer has funded multiple secured personal loans or cash
advances or opened multiple products through our marketplace, it is only counted
once for each product type. Previously, Total Products included all products for
which our Total Customers submitted or clicked on an offer but were not
necessarily monetized, which we changed beginning in the third quarter of 2022
in order to more accurately reflect management's view of our products. We
consider Total Products to be a key performance metric as it can be used to
understand the usage of our products across our customer base. Total Products
were 11.3 million and 6.9 million as of September 30, 2022 and 2021,
respectively. Total Products for all prior periods have been recast to present
the updated definition of Total Products.

Business Partners


Enterprise Partners is comprised of Product Partners and Channel Partners. We
define Product Partners as financial institutions and financial service
providers. We define Channel Partners as organizations that allow us to reach a
wide base of consumers, including but not limited to news sites, content
publishers, product comparison sites and financial institutions. Enterprise
Partners were 1,024 as of September 30, 2022, comprising 441 Product Partners
and 583 Channel Partners. The number of Enterprise Partners prior to the Even
Acquisition was not significant.

Total number of origins


We define Total Originations as the dollar volume of the secured personal loans
originated and cash advances funded within the stated period. We consider Total
Originations to be a key performance metric as it can be used to measure the
usage and engagement of the customers across our secured personal lending and
Instacash products and is a significant driver of net interest income on finance
receivables and service and subscription fees. Total Originations were $446
million and $274 million for the three months ended September 30, 2022 and 2021,
respectively, and $1,292 million and $700 million for the nine months ended
September 30, 2022 and 2021, respectively. All originations were originated
directly by MoneyLion.

Adjusted income


Adjusted Revenue is defined as total revenue, net, plus amortization of loan
origination costs less provision for loss on subscription receivables, provision
for loss on fees receivables and revenue derived from phased out products. We
believe that Adjusted Revenue provides a meaningful understanding of revenue
from ongoing products and recurring revenue for comparability purposes. Adjusted
Revenue is a non-GAAP measure and should not be viewed as a substitute for total
revenue, net. Refer to the "- Non-GAAP Measures" section below for further
discussion.

Our adjusted revenues are further broken down into the following categories:


                                             Three Months Ended September 30,        Nine Months Ended September
                                                                                                 30,
                                                2022                  2021              2022             2021
                                                                      (in thousands)
Consumer                                   $        50,987       $        38,803     $  146,713       $  104,475
Enterprise                                          34,288                 3,175         89,095            6,442
Adjusted Revenue                           $        85,275       $        41,978     $  235,808       $  110,917



This breakdown of Adjusted Revenue across the categories of consumer revenue and
enterprise revenue helps provide our management with a better understanding of
Adjusted Revenue by type and may help to inform strategic pricing and resource
allocations across our products.

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Adjusted gross profit and adjusted EBITDA


Adjusted Gross Profit is defined as gross profit less revenue derived from
phased out products. Adjusted EBITDA is defined as net income (loss) plus
interest expense related to corporate debt, income tax expense (benefit),
depreciation and amortization expense, change in fair value of warrants, change
in fair value of subordinated convertible notes, change in fair value of
contingent consideration from mergers and acquisitions, stock-based compensation
and one-time expenses less origination financing cost of capital. We believe
Adjusted Gross Profit and Adjusted EBITDA provide a meaningful understanding of
an aspect of profitability based on our current product portfolio. These are
non-GAAP measures and should not be viewed as a substitute for gross profit nor
net income (loss). Refer to the "- Non-GAAP Measures" section below for further
discussion.

Results of operations for the three and nine months ended September 30, 2022 and 2021


Revenues

The following table is a reference for the discussion that follows.

                         Three Months Ended                                   Nine Months Ended September
                            September 30,                  Change                         30,                         Change
                        2022            2021           $            %            2022             2021            $             %
                                                          (In thousands, except for percentages)
Consumer revenues
Service and
subscription fees     $  52,109       $  38,748     $ 13,361         34.5 %   $  149,271       $  103,368     $  45,903          44.4 %
Net interest income
on finance
receivables               2,351           2,294           57          2.5 %        7,436            5,717         1,719          30.1 %
Total consumer
revenues                 54,460          41,042       13,418         32.7 %

156,707 109,085 47,622 43.7% Revenue from business services

                 34,288           3,175       31,113        979.9 %       89,095            6,442        82,653       1,283.0 %

Total revenue, net $88,748 $44,217 $44,531 100.7%

$245,802 $115,527 $130,275 112.8%

We generate revenue primarily from various product-related fees, providing membership subscriptions, performing business services, and issuing loans.


Total revenues increased by $44.5 million, or 100.7%, to $88.7 million for the
three months ended September 30, 2022, as compared to $44.2 million for the same
period in 2021.

Total revenues increased by $130.3 million, or 112.8%, to $245.8 million for the
nine months ended September 30, 2022, as compared to $115.5 million for the same
period in 2021.

Service and subscription fees


Service and subscription fees increased by $13.4 million, or 34.5%, to $52.1
million for the three months ended September 30, 2022, as compared to $38.7
million for the same period in 2021. The increase in service and subscription
fees were driven by increases in fee income related to instant transfer fees and
tips from Instacash of $11.1 million driven by the growth of Instacash advances
across both existing and new customers, an increase in cardholder fees from
RoarMoney accounts of $0.4 million due to an increased number of customers using
RoarMoney and new foreign transaction and instant transfer fees and an increase
of $1.9 million in revenue from a new transaction volume-based incentive payment
program from a third-party payment network, of which $1.6 million is related to
prior periods.


                                       39
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Service and subscription fees increased by $45.9 million, or 44.4%, to $149.3
million for the nine months ended September 30, 2022, as compared to $103.4
million for the same period in 2021. The increase in service and subscription
fees were driven by increases in fee income related to instant transfer fees and
tips from Instacash of $42.9 million driven by the growth of Instacash advances
across both existing and new customers, an increase in subscription fees of $2.1
million due to an increased number of customers using the Credit Builder Plus
membership program and an increase of $1.9 million in revenue from a new
transaction volume-based incentive payment program from a third-party payment
network, of which $1.2 million is related to prior periods. These increases were
partially offset by decreases in fee income related to interchange, cardholder
and administration fees from our bank and investment accounts of $1.0 million
driven by lower payment volume.

Net interest income on financial receivables


Net interest income on finance receivables is generated by interest earned on
Credit Builder Plus loans, which is partially offset by the amortization of loan
origination costs.

Net interest income on finance receivables increased by $0.1 million, or 2.5%,
to $2.4 million for the three months ended September 30, 2022, as compared to
$2.3 million for the same period in 2021. The increase in net interest income on
finance receivables was driven by the historical origination growth on our
Credit Builder Plus loan program across both existing and new customers. The
amortization of loan origination costs decreased by $0.1 million to $0.3 million
for the three months ended September 30, 2022, as compared to $0.5 million for
the same period in 2021.

Net interest income on finance receivables increased by $1.7 million, or 30.1%,
to $7.4 million for the nine months ended September 30, 2022, as compared to
$5.7 million for the same period in 2021. The increase in net interest income on
finance receivables was driven by the historical origination growth on our
Credit Builder Plus loan program across both existing and new customers. The
amortization of loan origination costs decreased by $0.2 million to $0.8 million
for the nine months ended September 30, 2022, as compared to $1.0 million for
the same period in 2021.

Enterprise service revenues

Enterprise service revenues increased by $31.1 million, or 979.9%, to $34.3
million for the three months ended September 30, 2022, as compared to $3.2
million for the same period in 2021. This increase was primarily attributable to
the acquisitions of Even Financial and MALKA, which significantly expanded the
Company's enterprise service offerings.

Enterprise service revenues increased by $82.7 million, or 1,283.0%, to $89.1
million for the nine months ended September 30, 2022, as compared to $6.4
million for the same period in 2021. This increase was primarily attributable to
the acquisitions of Even Financial and MALKA, which significantly expanded the
Company's enterprise service offerings.



                                       40
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Functionnary costs

The following table is a reference for the following discussion:

                              Three Months Ended                                   Nine Months Ended September
                                September 30,                   Change                         30,                         Change
                             2022            2021           $            %            2022             2021            $            %
                                                              (In thousands, except for percentages)
Operating expenses
Provision for credit
losses on consumer
receivables                   27,428          15,238       12,190         80.0 %       77,453           36,644        40,809        111.4 %
Compensation and
benefits                      25,619          15,471       10,148         65.6 %       74,160           30,700        43,460        141.6 %
Marketing                      6,954          13,531       (6,577 )      -48.6 %       27,847           27,060           787          2.9 %
Direct costs                  28,837          10,885       17,952        164.9 %       79,427           31,331        48,096        153.5 %
Professional services          7,546           4,678        2,868         61.3 %       21,486           12,715         8,771         69.0 %
Technology-related
costs                          5,327           1,498        3,829        255.6 %       15,241            5,954         9,287        156.0 %
Other operating
expenses                      11,209           8,261        2,948         35.7 %       31,820           10,618        21,202        199.7 %
Total operating
expenses                     112,920          69,562       43,358         62.3 %      327,434          155,022       172,412        111.2 %

Other (expense) income
Interest expense              (7,880 )        (1,627 )     (6,253 )      384.3 %      (21,638 )         (4,947 )     (16,691 )      337.4 %
Change in fair value of
warrant liability                414          (5,495 )      5,909           nm          7,275          (54,285 )      61,560           nm
Change in fair value of
subordinated
convertible notes                  -           7,684       (7,684 )         nm              -          (41,877 )      41,877           nm
Change in fair value of
contingent
consideration from
mergers and
acquisitions                  10,214               -       10,214           nm         14,034                -        14,034           nm
Other income (expense)           460             137          323        235.8 %         (447 )          3,405        (3,852 )         nm
Total other (expense)
income                         3,208             699        2,509        358.9 %         (776 )        (97,704 )      96,928        -99.2 %

Income tax expense
(benefit)                         53              (1 )         54           nm        (28,348 )             41       (28,389 )         nm


Our operating expenses consist of the following items:

Allowance for credit losses on consumer receivables


Provision for credit losses on consumer receivables consists of amounts charged
during the period to maintain an allowance for credit and advance losses. The
allowance represents management's estimate of the credit losses in our consumer
receivable portfolio and is based on management's assessment of many factors,
including changes in the nature, volume and risk characteristics of the consumer
receivables portfolio, including trends in delinquency and charge-offs and
current economic conditions that may affect the customer's ability to pay.

Provision for credit losses on consumer receivables increased by $12.2 million,
or 80.0%, to $27.4 million for the three months ended September 30, 2022, as
compared to $15.2 million for the same period in 2021. This increase resulted
primarily from an increase to provision related to Instacash advance receivables
of $11.3 million and Instacash instant transfer fees and tips of $0.9 million,
evidenced by the increase in Total Originations from approximately $274 million
for the three months ended September 30, 2021 compared to approximately $446
million for the same period in 2022, and partially offset by a decrease to
provision related to Credit Builder Plus loan receivables of $0.5 million.
Provision related to subscription fees increased by $0.2 million. Related to the
ML Plus loans, a legacy product we transitioned from in the second quarter of
2020, the provision decreased by $0.3 million.

                                       41
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Provision for credit losses on consumer receivables increased by $40.8 million,
or 111.4%, to $77.5 million for the nine months ended September 30, 2022, as
compared to $36.6 million for the same period in 2021. This increase resulted
primarily from an increase to provision related to Instacash advance receivables
of $32.7 million, Instacash instant transfer fees and tips of $3.2 million and
Credit Builder Plus loan receivables of $2.1 million, evidenced by the increase
in Total Originations from approximately $700 million for the nine months ended
September 30, 2021 compared to approximately $1,292 million for the same period
in 2022. Provision related to subscription fees increased by $1.8 million.
Related to the ML Plus loans, a legacy product we transitioned from in the
second quarter of 2020, the provision decreased by $0.9 million.

Benefits and Compensation


Compensation and benefits increased by $10.1 million, or 65.6%, to $25.6 million
for the three months ended September 30, 2022, as compared to $15.5 million for
the same period in 2021. This increase was driven primarily by $9.8 million of
additional compensation and benefits expenses related to Even Financial and
MALKA, a $1.9 million increase related to increased headcount, an increase in
stock-based compensation of $4.5 million and $0.2 million related to severance
costs incurred in the third quarter of 2022. This increase was partially offset
by the $6.3 million non-recurring, discretionary bonus incentive expense related
to the Business Combination that occurred in the third quarter of 2021.

Compensation and benefits increased by $43.5 million, or 141.6%, to $74.2
million for the nine months ended September 30, 2022, as compared to $30.7
million for the same period in 2021. This increase was driven primarily by $26.6
million of additional compensation and benefits expenses related to Even
Financial and MALKA, a $3.8 million increase related to increased headcount, an
increase in stock-based compensation of $11.2 million, a $1.1 million increase
related to the amortization of salaries related to origination expenses incurred
in 2021 and $0.8 million related to severance costs incurred in 2022.

Marketing


Marketing decreased by $6.6 million, or 48.6%, to $7.0 million for the three
months ended September 30, 2022, as compared to $13.5 million for the same
period in 2021. This decrease resulted primarily from a $6.7 million decrease in
costs related to advertising through digital platforms, partially offset by a
$0.1 million increase in general marketing-related activities.

Marketing increased by $0.8 millioni.e. 2.9%, at $27.8 million for the nine months ended September 30, 2022compared to $27.1 million for the same period in 2021. This increase is mainly due to an increase in costs related to the general marketing activities of $8.7 millionpartially offset by a $7.9 million reduction in advertising costs via digital platforms.

Direct costs


Direct costs increased by $18.0 million, or 164.9%, to $28.8 million for the
three months ended September 30, 2022, as compared to $10.9 million for the same
period in 2021. The increase was primarily driven by $18.8 million of direct
costs related to Even Financial and MALKA, an increase in payment processing
fees of $0.3 million and underwriting expenses of $0.1 million, driven by growth
in Total Originations and Total Customers, partially offset by a $1.4 million
decrease in costs related to our bank account offering.

Direct costs increased by $48.1 million, or 153.5%, to $79.4 million for the
nine months ended September 30, 2022, as compared to $31.3 million for the same
period in 2021. The increase was primarily driven by $48.3 million of direct
costs related to Even Financial and MALKA, an increase in payment processing
fees of $3.5 million and underwriting expenses of $1.3 million, driven by growth
in Total Originations and Total Customers, partially offset by a $5.5 million
decrease in costs related to our bank account offering.

Professional services

                                       42
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Professional services increased by $2.9 million, or 61.3%, to $7.5 million for
the three months ended September 30, 2022, as compared to $4.7 million for the
same period in 2021. This increase resulted primarily from an increase in
professional costs related to Even Financial and MALKA of $0.9 million and other
consulting costs of $2.0 million to help support business growth.

Professional services increased by $8.8 million, or 69.0%, to $21.5 million for
the nine months ended September 30, 2022, as compared to $12.7 million for the
same period in 2021. This increase resulted primarily from an increase in
professional costs related to Even Financial and MALKA of $3.2 million, legal
services of $1.4 million and other consulting costs of $4.2 million to help
support our public reporting requirements and business growth.

Technology costs


Technology-related costs increased by $3.8 million, or 255.6%, to $5.3 million
for the three months ended September 30, 2022, as compared to $1.5 million for
the same period in 2021. This increase resulted primarily from an increase in
software licenses and subscriptions of $2.0 million, depreciation and
amortization related to equipment and software of $1.1 million and costs related
to other technology services of $0.7 million.

Technology-related costs increased by $9.3 million, or 156.0%, to $15.2 million
for the nine months ended September 30, 2022, as compared to $6.0 million for
the same period in 2021. This increase resulted primarily from an increase in
software licenses and subscriptions of $4.9 million, depreciation and
amortization related to equipment and software of $2.7 million and costs related
to other technology services of $1.8 million.

Other operating expenses


Other operating expenses increased by $2.9 million, or 35.7%, to $11.2 million
for the three months ended September 30, 2022, as compared to $8.3 million for
the same period in 2021. The increase was driven by $4.5 million of intangible
amortization expenses attributable to the acquisitions of Even Financial and
MALKA, $1.1 million of additional expenses as a result of the acquisitions of
Even Financial and MALKA and a $0.7 million increase in insurance-related
expenses, partially offset by reductions in losses for unrecovered customer
purchase transactions and other banking charges of $4.4 million.

Other operating expenses increased by $21.2 million, or 199.7%, to $31.8 million
for the nine months ended September 30, 2022, as compared to $10.6 million for
the same period in 2021. The increase was driven by $11.3 million of intangible
amortization expenses attributable to the acquisitions of Even Financial and
MALKA, a $4.8 million increase in insurance-related expenses and $3.9 million of
additional expenses as a result of the acquisitions of Even Financial and MALKA.

Our other (expense) income consists of the following:

Interest expense


Interest expense increased by $6.3 million, or 384.3%, to $7.9 million for the
three months ended September 30, 2022, as compared to $1.6 million for the same
period in 2021. This increase resulted from an increase in average debt
outstanding during the three months ended September 30, 2022 compared to the
same period in 2021. See Part I, Item 1 "Financial Statements - Debt" for more
information.

Interest expense increased by $16.7 million, or 337.4%, to $21.6 million for the
nine months ended September 30, 2022, as compared to $4.9 million for the same
period in 2021. This increase resulted from an increase in average debt
outstanding during the nine months ended September 30, 2022 compared to the same
period in 2021. See Part I, Item 1 "Financial Statements - Debt" for more
information.

Change in fair value of warrant liability


Change in fair value of warrant liability was a benefit of $0.4 million for the
three months ended September 30, 2022, as compared to an expense of $5.5 million
for the same period in 2021. The change in fair value of warrant liability was
due to changes in inputs that drive the warrant liability fair value
calculations.

                                       43
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Change in fair value of warrant liability was a benefit of $7.3 million for the
nine months ended September 30, 2022, as compared to an expense of $54.3 million
for the same period in 2021. The change in fair value of warrant liability was
due to changes in inputs that drive the warrant liability fair value
calculations.

Change in fair value of subordinated convertible bonds


Change in fair value of subordinated convertible notes had no expense for the
three and nine months ended September 30, 2022 compared to a benefit of $7.7
million and an expense $41.9 million for the three and nine months ended
September 30, 2021, respectively. There was no activity for the three and nine
months ended September 30, 2022 because the subordinated convertible notes were
converted into common stock immediately prior to the Business Combination
Closing in September 2021; the noteholders subsequently received shares of
MoneyLion Class A Common Stock upon the Business Combination Closing.

Change in fair value of contingent consideration arising from mergers and acquisitions


Change in fair value of contingent consideration from mergers and acquisitions
was a benefit of $10.2 million for the three months ended September 30, 2022, as
compared to zero for the same period in 2021. No contingent consideration from
mergers and acquisitions was outstanding for the three months ended September
30, 2021.

Change in fair value of contingent consideration from mergers and acquisitions
was a benefit of $14.0 million for the nine months ended September 30, 2022, as
compared to zero for the same period in 2021. No contingent consideration from
mergers and acquisitions was outstanding for the nine months ended September 30,
2021.

Other income (expense)

Other income increased by $0.3 million to other income of $0.5 million for the
three months ended September 30, 2022, as compared to $0.1 million for the same
period in 2021. The increase was primarily related to interest income earned on
interest bearing deposits funded during 2022, partially offset by foreign
currency translation losses during the three months ended September 30, 2022.

Other expense increased by $3.9 million to other expense of $0.4 million for the
nine months ended September 30, 2022, as compared to other income of $3.4
million for the same period in 2021. The majority of other expense in the nine
months ended September 30, 2022 was related to expenses from debt transactions
during the period. The majority of other income in the nine months ended
September 30, 2021 related to a gain from the forgiveness of SBA's PPP loan of
$3.2 million as the SBA approved the Company's application for forgiveness with
respect to the entire outstanding balance of the PPP loan.

Income tax (benefit)

See Part I, Heading 1 “Financial Statements – Income Taxes” for an explanation of the significant income tax benefit recorded in the nine months ended
September 30, 2022.

Non-GAAP Measures


In addition to total revenue, net, net income (loss) and gross profit, which are
measures presented in accordance with U.S. GAAP, management believes that
Adjusted Revenue, Adjusted Gross Profit and Adjusted EBITDA provide relevant and
useful information which is widely used by analysts, investors and competitors
in our industry in assessing performance. Adjusted Revenue, Adjusted Gross
Profit and Adjusted EBITDA are supplemental measures of MoneyLion's performance
that are neither required by nor presented in accordance with U.S. GAAP.
Adjusted Revenue, Adjusted Gross Profit and Adjusted EBITDA should not be
considered as substitutes for U.S. GAAP metrics such as total revenue, net, net
income (loss), gross profit or any other performance measures derived in
accordance with U.S. GAAP and may not be comparable to similar measures used by
other companies.

We define adjusted revenue as total revenue, net plus amortization of loan origination costs less provision for loss on subscriptions receivable, provision for loss on fees receivable and revenue from phased out products. We

                                       44
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believe adjusted revenue provides a meaningful understanding of in-process revenue and recurring revenue for comparability purposes.


We define Adjusted Gross Profit as gross profit less revenue derived from phased
out products. We define Adjusted EBITDA as net income (loss) plus interest
expense related to corporate debt, income tax expense (benefit), depreciation
and amortization expense, change in fair value of warrant liability, change in
fair value of subordinated convertible notes, change in fair value of contingent
consideration from mergers and acquisitions, stock-based compensation and
one-time expenses less origination financing cost of capital. We believe that
these measures provide a meaningful understanding of an aspect of profitability
based on our current product portfolio.

Adjusted Revenue, Adjusted Gross Profit and Adjusted EBITDA are useful for an investor to assess our performance because these measures:

are widely used by investors to measure a company’s operational performance;

are measures used by rating agencies, lenders and other parties to assess our creditworthiness; and

are used by our management for a variety of purposes, including as performance measures and as a basis for strategic planning and forecasting.

Reconciliation of total, net and adjusted revenues for the three and nine months ended September 30, 2022 and 2021 is as follows:


                                             Three Months Ended September 30,        Nine Months Ended September
                                                                                                 30,
                                                2022                  2021              2022             2021
                                                                      (in thousands)
Total revenues, net                        $        88,748       $        44,217     $  245,802       $  115,527
Add back:
Amortization of loan origination costs1                335                   464            802            1,039

Less:

Provision for credit losses on                      (1,256 )              (1,025 )       (4,018 )         (2,204 )
receivables - subscription receivables2
Provision for credit losses on                      (2,553 )              (1,671 )       (6,758 )         (3,563 )
receivables - fees receivables3
Revenue derived from products that have                 (0 )                  (6 )          (21 )            119
been phased out4
Adjusted Revenue                           $        85,275       $        41,978     $  235,808       $  110,917



(1)

The amortization of loan origination costs is included in net interest income from financial receivables.

(2)

We deduct provision for credit losses on receivables related to subscription
receivables from total revenue, net as it is related to revenue-based
receivables. For U.S. GAAP reporting purposes, provision for loss on receivables
related to subscription receivables is included within provision for loss on
receivables on the statement of operations. Refer to Part I, Item 1 "Financial
Statements - Summary of Significant Accounting Policies" for further discussion.

(3)

We deduct provision for credit losses on receivables related to fees receivables
from total revenue, net as it is related to revenue-based receivables. For U.S.
GAAP reporting purposes, provision for loss on receivables related to fees
receivables is included within provision for loss on receivables on the
statement of operations. Refer to Part I, Item 1 "Financial Statements - Summary
of Significant Accounting Policies" for further discussion.

                                       45
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(4)

Revenue derived from products that have been phased out includes net interest
income and fees related to unsecured personal loans, which are included within
net interest income from finance receivables and service and subscription fees,
respectively. Revenue from unsecured personal loans was $0.0 and $0.0 million
for the three months ended September 30, 2022 and 2021, respectively, and $0.0
and $(0.1) million for the nine months ended September 30, 2022 and 2021,
respectively.

The reconciliation of gross profit, which is prepared in accordance with U.S.
GAAP, to Adjusted Gross Profit for the three and nine months ended September 30,
2022 and 2021 is as follows:

                                               Three Months Ended          Nine Months Ended September
                                                  September 30,                        30,
                                              2022             2021           2022             2021
                                                                 (in thousands)
Total revenue, net                         $   88,748       $   44,217     $  245,802       $  115,527
Less:
Cost of Sales
Direct costs                                  (28,837 )        (10,885 )      (79,427 )        (31,331 )
Provision for credit losses on                 (1,256 )         (1,025 )       (4,018 )         (2,204 )
receivables - subscription receivables1
Provision for credit losses on                 (2,553 )         (1,671 )       (6,758 )         (3,563 )
receivables - fees receivables2
Technology related costs                       (2,410 )         (1,633 )       (7,396 )         (4,493 )
Professional services                          (1,665 )           (978 )       (3,850 )         (2,460 )
Compensation and benefits                      (2,780 )         (1,015 )       (6,451 )         (2,805 )
Other operating expenses                         (121 )            (54 )         (344 )           (163 )
Gross Profit                               $   49,126       $   26,957     $  137,559       $   68,506
Less:
Revenue derived from products that have            (0 )             (6 )          (21 )            119
been phased out3
Adjusted Gross Profit                      $   49,126       $   26,951     $  137,538       $   68,625



(1)
We deduct provision for credit losses on receivables related to subscription
receivables from total revenue, net as it is related to revenue-based
receivables. For U.S. GAAP reporting purposes, provision for loss on receivables
related to subscription receivables is included within provision for loss on
receivables on the statement of operations. Refer to Part I, Item 1 "Financial
Statements - Summary of Significant Accounting Policies" for further discussion.

(2)

We deduct provision for credit losses on receivables related to fees receivables
from total revenue, net as it is related to revenue-based receivables. For U.S.
GAAP reporting purposes, provision for loss on receivables related to fees
receivables is included within provision for loss on receivables on the
statement of operations. Refer to the Part I, Item 1 "Financial Statements -
Summary of Significant Accounting Policies" for further discussion.

(3)

Revenue derived from products that have been phased out includes net interest
income and fees related to unsecured personal loans, which are included within
net interest income from finance receivables and service and subscription fees,
respectively. Revenue from unsecured personal loans was $0.0 and $0.0 million
for the three months ended September 30, 2022 and 2021, respectively, and $0.0
and $(0.1) million for the nine months ended September 30, 2022 and 2021,
respectively.


                                       46
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The reconciliation of net loss, which is prepared in accordance with U.S. GAAP,
to Adjusted EBITDA for the three and nine months ended September 30, 2022 and
2021 is as follows:

                                               Three Months Ended           

Nine month period ended September 30,

                                                  September 30,
                                              2022             2021             2022                2021
                                                                    (in thousands)
Net income (loss)                          $  (21,017 )     $  (24,645 )   $       (54,060 )     $  (137,240 )
Add back:
Interest related to corporate debt1             2,896            1,627               6,937             4,947
Income tax expense (benefit)                       53               (1 )           (28,348 )              41
Depreciation and amortization expense           6,157              486              15,584             1,502
Changes in fair value of warrant                 (414 )          5,495              (7,275 )          54,285
liability
Changes in fair value of subordinated               -           (7,684 )                 -            41,877
convertible notes
Change in fair value of contingent
consideration from mergers and                (10,214 )              -             (14,034 )               -

acquisitions

Stock-based compensation expense                5,127              586              13,643             2,425
One-time expenses2                              3,068            7,183               9,887             6,247

Less:

Origination financing cost of capital3              -           (3,520 )                 -            (9,364 )
Adjusted EBITDA                            $  (14,346 )     $  (20,474 )   $       (57,669 )     $   (35,280 )



(1)
We add back the interest expense related to all outstanding corporate debt,
excluding outstanding principal balances related to the ROAR 1 SPV Credit
Facility and the ROAR 2 SPV Credit Facility. For U.S. GAAP reporting purposes,
interest expense related to corporate debt is included within interest expense
in the statement of operations.

(2)

We add back other one-time expenses, including those related to transactions,
including mergers and acquisitions and financings, that occurred,
litigation-related expenses and non-recurring costs or gains. Generally, these
expenses are included within other expenses or professional fees in the
statement of operations.

(3)

The financing cost of raising capital represents the preferred return attributable to The IIA’s investors. This is included in temporary equity in the historical consolidated balance sheets. Since we left The IIA in
December 2021this will have no impact on our adjusted EBITDA going forward.

                                       47
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Changes in the financial situation at September 30, 2022 of December 31, 2021

                                          September 30,       December 31,               Change
                                              2022                2021              $             %
Assets
Cash and restricted cash                 $       189,209     $      246,224     $ (57,015 )        -23.2 %
Consumer receivables                             152,718            153,741        (1,023 )         -0.7 %
Allowance for credit losses on
consumer receivables                             (22,633 )          (22,323 )        (310 )          1.4 %
Consumer receivables, net                        130,085            131,418        (1,333 )         -1.0 %
Enterprise receivables                            20,825              6,002        14,823          247.0 %
Property and equipment, net                        2,896              1,801         1,095           60.8 %
Goodwill and intangible assets, net              366,931             77,665       289,266          372.5 %
Other assets                                      48,854             28,428        20,426           71.9 %
Total assets                             $       758,800     $      491,538     $ 267,262           54.4 %
Liabilities and Stockholders' Equity
Liabilities:
Debt agreements                                  241,645            186,591        55,054           29.5 %
Accounts payable and accrued
liabilities                                       54,049             36,868        17,181           46.6 %
Warrant liability                                    985              8,260        (7,275 )        -88.1 %
Other liabilities                                 60,051             38,135        21,916           57.5 %
Total liabilities                                356,730            269,854        86,876           32.2 %
Redeemable convertible preferred stock           173,142
(Series A)                                                                -       173,142             nm
Stockholders' equity:
Common Stock                                          25                 23             2            8.7 %
Additional paid-in capital                       761,576            701,234        60,342            8.6 %
Accumulated deficit                             (522,973 )         (469,873 )     (53,100 )         11.3 %
Treasury stock                                    (9,700 )           (9,700 )           -            0.0 %
Total stockholders' equity                       228,928            221,684         7,244            3.3 %
Total liabilities, redeemable
convertible preferred stock and
stockholders' equity                     $       758,800     $      491,538     $ 267,262           54.4 %



Assets

Cash and restricted cash

Cash and restricted cash decreased by $57.0 million, or 23.2%, to $189.2 million
as of September 30, 2022, as compared to $246.2 million as of December 31, 2021.
Refer to the "- Cash Flows" section below for further discussion on the net
change in cash and restricted cash from operating activities, investing
activities and financing activities during the period.

Consumer receivables, net


Consumer receivables, net decreased by $1.3 million, or 1.0%, to $130.1 million
as of September 30, 2022, as compared to $131.4 million as of December 31, 2021.
The decrease was primarily attributable to a decrease in loan receivables, which
was mostly offset by an increase in Instacash receivables from December 31, 2021
to September 30, 2022.

Enterprise receivables

Enterprise receivables increased by $14.8 million, or 247.0%, to $20.8 million
as of September 30, 2022, as compared to $6.0 million as of December 31, 2021.
This increase was primarily attributable to the acquisition of Even Financial,
which significantly expanded the Company's enterprise service offering.


                                       48
--------------------------------------------------------------------------------

Good will and intangible assets, net


Goodwill and intangible assets, net increased by $289.3 million, or 372.5%, to
$366.9 million as of September 30, 2022, as compared to $77.7 million as of
December 31, 2021. This increase was attributable to the Even Acquisition, which
closed in the first quarter of 2022.

other assets


Other assets increased by $20.4 million, or 71.9%, to $48.9 million as of
September 30, 2022, as compared to $28.4 million as of December 31, 2021. This
was primarily attributable to an increase in receivables from payment processors
and the new lease accounting standard adopted during the first quarter of 2022,
which resulted in an operating lease right-of-use asset of $8.8 million as of
September 30, 2022.

Liabilities

Debt agreements

Debt agreements increased by $55.1 million, or 29.5%, to $241.6 million as of
September 30, 2022, as compared to $186.6 million as of December 31, 2021. Refer
to the Part I, Item 1 "Financial Statements - Debt" for further discussion of
financing transactions.

Accounts payable and accrued liabilities


Accounts payable and accrued expenses increased by $17.2 million, or 46.6%, to
$54.0 million as of September 30, 2022, as compared to $36.9 million as of
December 31, 2021, which was primarily attributable to new accounts payable and
accruals of $12.9 million associated with Even Financial, which the Company
acquired during the first quarter of 2022, and an accrual related to dividends
on the Series A Redeemable Convertible Preferred Stock, which was partially
offset by a reduction in transaction costs payable related to the Business
Combination which were outstanding as of December 31, 2021.

Mandate Liability


Warrant liability decreased by $7.3 million, or 88.1%, to $1.0 million as of
September 30, 2022, as compared to $8.3 million as of December 31, 2021. Refer
to the "- Results of Operations for the Three and Nine Months Ended September
30, 2022 and 2021" section above for further discussion on the change in fair
value of warrant liability.

Other liabilities

Other liabilities increased by $21.9 million, or 57.5%, to $60.1 million as of
September 30, 2022, as compared to $38.1 million as of December 31, 2021. The
increase was primarily attributable to an increase in liabilities related to
contingent consideration from mergers and acquisitions of $8.7 million primarily
related to the Even Acquisition and an increase from the new lease accounting
standard adopted during the first quarter of 2022, which resulted in an
operating lease liability of $9.4 million as of September 30, 2022.


                                       49
--------------------------------------------------------------------------------

Cash and capital resources


As a result of the Business Combination, we raised net proceeds of $293.2
million, including the contribution of cash held in Fusion's trust account from
its initial public offering of $91.1 million, post redemption of Fusion's common
stock held by Fusion's public stockholders prior to the Business Combination,
and $250.0 million of private investment in public equity ("PIPE") at $10.00 per
share of MoneyLion Class A Common Stock, net of transaction expenses. Prior to
the Business Combination, the funds received from previous common stock and
redeemable convertible preferred stock equity financings, as well as the
Company's ability to obtain lending commitments, provided the liquidity
necessary for the Company to fund its operations. We believe our existing cash
and cash equivalents and cash flows from operating activities will be sufficient
to meet our operating working capital needs for at least the next twelve months.
Our future financing requirements will depend on several factors including our
growth, the timing and level of spending to support continued development of our
platform, the expansion of marketing activities and merger and acquisition
activity. In addition, growth of our finance receivables increases our liquidity
needs, and any failure to meet those liquidity needs could adversely affect our
business. Additional funds may not be available on terms favorable to us or at
all. If the Company is unable to generate positive operating cash flows,
additional debt and equity financings or refinancing of existing debt financings
may be necessary to sustain future operations.

Receivables originated on our platform, including Credit Builder Plus loans and
Instacash advances, were primarily financed through IIA until the end of the
fourth quarter of 2021. Beginning in the fourth quarter of 2021, MoneyLion
transitioned its primary source of funding for originated receivables from IIA
to special purpose vehicle financings from third-party institutional lenders. As
of September 30, 2022, there was an outstanding principal balance of $83.0
million under the ROAR 1 SPV Credit Facility and an outstanding principal
balance of $73.0 million under the ROAR 2 SPV Credit Facility. See Part I, Item
1 "Financial Statements - Variable Interest Entities" for more information on
the ROAR 1 SPV Credit Facility and ROAR 2 SPV Credit Facility.

The following table presents cash, restricted cash and amounts due from the Company’s payment processor, as of September 30, 2022 and December 31, 2021:


                                     September 30,       December 31,
                                         2022                2021
Cash                                $       126,369     $      201,763
Restricted cash                              62,840             44,461

To be received from the payment processor $32,348 $18,576

Cash flow


The following table presents net change in cash and restricted cash from
operating, investing and financing activities during the nine months ended
September 30, 2022 and 2021:

                                                Nine Months Ended September 30,
                                                  2022                   2021

Net cash used in operating activities ($9,896) $

  (2,062 )
Net cash used in investing activities                (101,607 )             (91,215 )
Net cash provided by financing activities              54,488               

371 352

Net change in cash and restricted cash ($57,015) $278,075





                                       50
--------------------------------------------------------------------------------

Operational activities


Net cash used in operating activities was $9.9 million for the nine months ended
September 30, 2022 compared to net cash used in operating activities of $2.1
million for the nine months ended September 30, 2021. This increase in net cash
used in operating activities was primarily driven by changes in working capital,
partially offset by an increase in profitability, after adjusting for non-cash
activity included in our net loss, of approximately $5.8 million during the nine
months ended September 30, 2022 compared to the nine months ended September 30,
2021.

Investing Activities

Net cash used in investing activities was $101.6 million for the nine months
ended September 30, 2022 compared to net cash used in investing activities of
$91.2 million for the nine months ended September 30, 2021. The increase in net
cash used in investing activities was primarily related to $18.6 million spent
on the Even Acquisition, net of cash received, and increased spending on
internal-use software, which was partially offset by a reduction in net
originations and collections of finance receivables during the nine months ended
September 30, 2022.

Financing Activities

Net cash provided by financing activities was $54.5 million for the nine months
ended September 30, 2022 compared to net cash provided by financing activities
of $371.4 million for the nine months ended September 30, 2021. The decrease in
cash provided by financing activities was primarily attributable to the net
proceeds received from the reverse capitalization in connection with the
Business Combination and from IIA during the nine months ended September 30,
2021 compared to 2022.

Financing Arrangements

Refer to Part I, Item 1 “Financial Statements – Debt” for more details on financing transactions during the period.

Contractual obligations

The table below summarizes the debts, leases and other minimum long-term cash obligations outstanding at September 30, 2022:


                                        Total        Remainder 2022       2023 - 2024       2025 - 2026       Thereafter
Monroe Term Loans                        90,000                    -            20,000            70,000                -
ROAR 1 SPV Credit Facility               83,000                    -                 -            83,000                -
ROAR 2 SPV Credit Facility               73,000                    -                 -            73,000                -
Operating lease obligations              12,619                  793             6,270             3,884            1,672
Vender unconditional purchase
obligations                              37,957                    -            12,457            17,000            8,500
Total                                 $ 296,576     $            793     $      38,727     $     246,884     $     10,172


Secured loans and other debts

For more information regarding our secured loans and other debt, see Part I, Item 1 “Financial Statements – Debt” in this Quarterly Report on Form 10-Q.

Equity

Series A Convertible Redeemable Preferred Shares


In connection with the acquisition of Even Financial, the Company issued
28,693,931 shares of Series A Redeemable Convertible Preferred Stock. For more
information regarding the Series A Redeemable Convertible Preferred Stock, see
Part I, Item 1 "Financial Statements - Common and Preferred Stock."


                                       51
--------------------------------------------------------------------------------

Off-balance sheet arrangements

To September 30, 2022the Company had no significant off-balance sheet arrangements.

Significant Accounting Policies and Estimates

See Part I, Item 1 “Financial Statements – Summary of Significant Accounting Policies” for a description of significant accounting policies and estimates.

Recently issued and adopted accounting pronouncements


See Part I, Item 1 "Financial Statements - Summary of Significant Accounting
Policies" for a description of recently issued accounting pronouncements that
may potentially impact our results of operations, financial condition or cash
flows.

© Edgar Online, source Previews

]]>
County notebook: the county of Luzerne is looking for an IT director https://paydayadvanceusca.com/county-notebook-the-county-of-luzerne-is-looking-for-an-it-director/ Mon, 07 Nov 2022 03:55:00 +0000 https://paydayadvanceusca.com/county-notebook-the-county-of-luzerne-is-looking-for-an-it-director/ Luzerne County is seeking applicants for the position of chief information officer, which has been advertised for between $85,000 and $90,000, according to an online publication. Ray Kase has been director since May. He informed the county that he planned to leave but indicated that he would remain in the position until the end […]]]>

Luzerne County is seeking applicants for the position of chief information officer, which has been advertised for between $85,000 and $90,000, according to an online publication.

Ray Kase has been director since May. He informed the county that he planned to leave but indicated that he would remain in the position until the end of the year, the human resources department said.

“It’s going to be tough to replace him,” County Executive Randy Robertson told the county council last week. Robertson praised Kase’s work performance.

The position is posted in the human resources career opportunities section of luzernecounty.org, with resumes due Nov. 16.

council meeting

The county council will hold a vote meeting and business session from 6 p.m. Wednesday, deviating from the usual Tuesday evening schedule due to the general election.

The final part of Wednesday’s business session will focus on the 2023 budget proposals for the Operational Services Division, which covers 911, Boiler Room, Emergency Management Agency, and these departments: Building/Ground, Engineering, Planning/ zoning, road/bridge and solid waste.

The meeting is being held at the County Courthouse on River Street in Wilkes-Barre. Instructions for attending the meeting remotely are posted under the Online Council Meetings link on luzernecounty.org.

Monetization

Former County Councilman Linda McClosky Houck submitted a written public comment for Wednesday’s meeting urging council members to reject monetization.

Acknowledging there are pros and cons, County Council Deputy Chairman John Lombardo said he wanted to explore a cash advance on overdue tax receipts. Known as “monetization,” the move could generate millions of dollars in upfront cash to help avoid a county property tax hike in 2023, Lombardo said.

The subject will be discussed during Tuesday’s working session.

McClosky Houck, a member of the self-government implementation board from 2012 to 2021, said voters embraced the self-government structure to address many issues in county government, including practices budgets.

“One of the first priorities of the 2012 board and its successors was to adopt realistic and balanced budgets that included ‘best practices’ that would ensure the ability of future boards to continue on a solid financial path and recover from the sins of the past,” she wrote. “Monetization was one of the first practices to be phased out.”

She likened monetization to the government equivalent of a payday loan that “people with weak money management skills turn to for an immediate but short-sighted quick fix to instant problems.”

“We are committed to improving the county’s financial practices and have made some tough decisions to pave the way for a better financial future for this county. I urge you, as you consider the proposal to monetize, reject it and continue to move Luzerne County in a fiscally responsible direction,” she wrote.

Vacant jobs

The county had 213 vacancies in a snapshot reading completed Oct. 24, according to the county manager’s monthly division manager report.

There were 211 vacancies at the Sept. 26 reading, which was the first time the administration had begun publicly releasing a monthly tally.

The report covers departments under the supervision of Robertson, County District Attorney Sam Sanguedolce and Comptroller Walter Griffith and does not follow court branches.

As of September, the county’s social services division had the highest number of vacancies — 117 — largely due to continued efforts to fill vacancies at Children and Youth, which had 72 vacancies, according to the report.

The operational services division had 42 openings, including 30 in 911 and eight in the roads and bridges department, he said.

There are 20 openings in the district attorney’s office, 11 in corrections and eight in the public defender’s office, he said.

The full report is posted with the agenda for Wednesday’s council business session on luzernecounty.org.

Contact Jennifer Learn-Andes at 570-991-6388 or on Twitter @TLJenLearnAndes.

]]>
India’s infrastructure bank to start disbursing loans in FY23 https://paydayadvanceusca.com/indias-infrastructure-bank-to-start-disbursing-loans-in-fy23/ Wed, 02 Nov 2022 16:03:00 +0000 https://paydayadvanceusca.com/indias-infrastructure-bank-to-start-disbursing-loans-in-fy23/ MUMBAI, Nov 2 (Reuters) – India’s National Infrastructure Development Finance Bank, a development finance institution, may start disbursing loans from the current financial year, the chief executive and chief executive said on Wednesday. General Rajkiran Rai G. Rai said the institution was also looking to raise funds by issuing longer-term 10- to 25-year bonds in […]]]>

MUMBAI, Nov 2 (Reuters) – India’s National Infrastructure Development Finance Bank, a development finance institution, may start disbursing loans from the current financial year, the chief executive and chief executive said on Wednesday. General Rajkiran Rai G.

Rai said the institution was also looking to raise funds by issuing longer-term 10- to 25-year bonds in the domestic market this fiscal year, but gave no quantum or timeline.

There is no immediate pressure to raise funds and the agency is well capitalized with an initial capital of 200 billion rupees ($2.42 billion) and grants of 50 billion rupees, Rai said.

The National Infrastructure Development Finance Bank expects ratings for its bond issues by December.

He said the agency expects a strong appetite for long-term bonds, especially from pension funds and insurance companies, adding that these investors are looking to invest in long-term bonds. to the tune of 2.5 trillion rupees ($30.22 billion) next year.

The public finance agency will ensure that risk pricing is done correctly on its bonds, as investors will need to be rewarded for taking longer-term risk, Rai said. The agency will create its own benchmark for pricing its bonds.

Rai did not give any funding target as the agency is still in the process of crystallizing its business plan and evaluating the pipeline of projects.

The Indian government had announced the development of this financial institution in its February 2021 budget to finance infrastructure projects of national importance. Rai was named MD in August, and the agency is currently building a team.

The agency seeks to finance greenfield and brownfield projects and also works with NIIF Infrastructure Finance on certain projects.

($1 = 82.7140 Indian rupees)

Reporting by Bhakti Tambe; Editing by Josie Kao

Our standards: The Thomson Reuters Trust Principles.

]]>
First Mid Bancshares, Inc. (NASDAQ:FMBH) sees sharp rise in short-term interest https://paydayadvanceusca.com/first-mid-bancshares-inc-nasdaqfmbh-sees-sharp-rise-in-short-term-interest/ Mon, 31 Oct 2022 00:01:03 +0000 https://paydayadvanceusca.com/first-mid-bancshares-inc-nasdaqfmbh-sees-sharp-rise-in-short-term-interest/ First Mid Bancshares, Inc. (NASDAQ:FMBH – Get Rating) experienced a significant increase in short-term interest during the month of October. As of October 15, there was short interest totaling 227,600 shares, an increase of 9.7% from the total of 207,500 shares as of September 30. Based on an average daily volume of 29,400 shares, the […]]]>

First Mid Bancshares, Inc. (NASDAQ:FMBH – Get Rating) experienced a significant increase in short-term interest during the month of October. As of October 15, there was short interest totaling 227,600 shares, an increase of 9.7% from the total of 207,500 shares as of September 30. Based on an average daily volume of 29,400 shares, the short interest ratio is currently 7.7 days.

Performance of First Mid Banc shares

The NASDAQ FMBH rose $0.85 during Friday trading hours, hitting $35.97. 39,457 shares of the company were traded, against an average volume of 33,503. The stock has a market capitalization of $735.59 million, a P/E ratio of 10.19 and a beta of 0.85. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt ratio of 0.78. The company’s 50-day simple moving average is $34.55 and its 200-day simple moving average is $36.17. First Mid Bancshares has a 1-year low of $31.61 and a 1-year high of $45.84.

First Mid Bancshares (NASDAQ:FMBH – Get Rating) last released its results on Thursday July 28th. The bank reported earnings per share of $0.90 for the quarter, missing the consensus estimate of $0.91 per ($0.01). The company posted revenue of $65.39 million in the quarter, compared to $65.63 million expected by analysts. First Mid Banc shares had a return on equity of 11.32% and a net margin of 25.05%. On average, equity research analysts expect First Mid Bancshares to post earnings per share of 3.77 for the current year.

Announcement of the dividend of the first Mid Bancshares

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 1. Shareholders of record on Thursday, November 17 will receive a dividend of $0.23. The ex-dividend date is Wednesday, November 16. This represents an annualized dividend of $0.92 and a dividend yield of 2.56%. First Mid Bancshares payout ratio is 26.06%.

A Wall Street analyst gives his opinion

Several analysts have recently commented on FMBH shares. Raymond James upgraded shares of First Mid Bancshares from a ‘market performance’ rating to an ‘outperformance’ rating and set a target price of $45.00 for the company in a Thursday, July 7 report . StockNews.com began covering shares of First Mid Bancshares in a report on Wednesday, October 12. They issued a “hold” rating for the company. Stephens lowered its target price on shares of First Mid Bancshares from $44.00 to $42.00 and set an “overweight” rating for the company in a report on Friday. Finally, Piper Sandler cut her price target on shares of First Mid Bancshares to $43.00 in a Thursday, September 29 report.

Hedge funds weigh on First Mid Banc shares

Major investors have recently changed their stake in the company. American Century Companies Inc. increased its equity stake in First Mid Bancshares by 6.3% in the first quarter. American Century Companies Inc. now owns 433,730 shares of the bank worth $16,694,000 after buying an additional 25,867 shares last quarter. Victory Capital Management Inc. increased its position in shares of First Mid Bancshares by 6.3% in the first quarter. Victory Capital Management Inc. now owns 42,350 shares of the bank valued at $1,630,000 after acquiring an additional 2,500 shares during the period. Creative Financial Designs Inc. ADV increased its position in shares of First Mid Bancshares by 12.9% in the second quarter. Creative Financial Designs Inc. ADV now owns 4,327 shares of the bank valued at $154,000 after acquiring 494 additional shares during the period. Cornercap Investment Counsel Inc. bought a new equity position in First Mid Bancshares in the first quarter worth approximately $902,000. Finally, Fiera Capital Corp increased its position in shares of First Mid Bancshares by 31.7% in the first quarter. Fiera Capital Corp now owns 24,023 shares of the bank valued at $925,000 after acquiring an additional 5,777 shares during the period. Hedge funds and other institutional investors own 34.40% of the company’s shares.

About First Mid Bancshares

(Get an evaluation)

First Mid Bancshares, Inc, a financial holding company, provides community banking products and services to commercial, retail and agricultural customers in the United States. It accepts various deposit products, such as demand deposits, savings accounts, money market deposits and term deposits. The Company’s lending products include commercial real estate, commercial and industrial real estate, farm and agricultural real estate, residential real estate and consumer loans; and other loans including loans to municipalities to support community projects, such as infrastructure improvements or equipment purchases.

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Although First Mid Bancshares currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.

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Arrow Financial (NASDAQ:AROW) shares widen after dividend announcement https://paydayadvanceusca.com/arrow-financial-nasdaqarow-shares-widen-after-dividend-announcement/ Fri, 28 Oct 2022 15:27:00 +0000 https://paydayadvanceusca.com/arrow-financial-nasdaqarow-shares-widen-after-dividend-announcement/ Shares of Arrow Financial Co. (NASDAQ:AROW – Get Rating) widened ahead of trading on Friday after the company announced a dividend. The stock had previously closed at $32.01, but opened at $33.25. Arrow Financial shares last traded at $32.97, with a volume of 10 shares traded. The newly announced dividend which will be paid on […]]]>

Shares of Arrow Financial Co. (NASDAQ:AROW – Get Rating) widened ahead of trading on Friday after the company announced a dividend. The stock had previously closed at $32.01, but opened at $33.25. Arrow Financial shares last traded at $32.97, with a volume of 10 shares traded. The newly announced dividend which will be paid on Thursday, December 15. Shareholders of record on Thursday, December 1 will receive a dividend of $0.27. This represents a dividend of $1.08 on an annualized basis and a yield of 3.28%. The ex-date of this dividend is Wednesday, November 30. Arrow Financial’s dividend payout ratio is currently 36.41%.

Analysts set new price targets

A number of equity research analysts have weighed in on the company. Piper Sandler reduced her price target on Arrow Financial to $33.00 in a Wednesday, October 5 research note. StockNews.com supported Arrow Financial’s coverage in a Wednesday, October 12 research note. They issued a “hold” rating for the company.

Arrow financial price performance

The company has a debt ratio of 0.14, a current ratio of 0.86 and a quick ratio of 0.86. The stock has a market capitalization of $544.01 million, a PE ratio of 11.43 and a beta of 0.61. The company has a 50-day simple moving average of $31.43 and a 200-day simple moving average of $32.05.

Arrow Financial (NASDAQ:AROW – Get Rating) last released its results on Wednesday, July 27. The financial services provider reported earnings per share of $0.75 for the quarter, beating the consensus estimate of $0.71 by $0.04. The company posted revenue of $36.78 million for the quarter, versus analyst estimates of $35.25 million. Arrow Financial had a return on equity of 13.24% and a net margin of 32.14%. Sell-side analysts expect Arrow Financial Co. to post EPS of 2.89 for the current fiscal year.

Arrow Financial Institutional Trading

Major investors have recently been buying and selling shares of the company. Financial Counselors Inc. increased its stake in shares of Arrow Financial by 23.1% during the first quarter. Financial Counselors Inc. now owns 14,665 shares of the financial services provider valued at $475,000 after acquiring 2,750 additional shares in the last quarter. Nisa Investment Advisors LLC bought a new stock position in Arrow Financial in Q1 for about $25,000. The Swiss National Bank increased its equity stake in Arrow Financial by 7.7% during the first quarter. The Swiss National Bank now owns 37,918 shares of the financial services provider valued at $1,229,000 after buying an additional 2,700 shares during the period. Bank of New York Mellon Corp increased its stake in Arrow Financial shares by 0.9% in the first quarter. Bank of New York Mellon Corp now owns 99,807 shares of the financial services provider valued at $3,236,000 after purchasing an additional 864 shares during the period. Finally, American Century Companies Inc. increased its stake in Arrow Financial shares by 28.8% during the 1st quarter. American Century Companies Inc. now owns 59,937 shares of the financial services provider valued at $1,943,000 after purchasing an additional 13,391 shares during the period. Institutional investors and hedge funds hold 44.87% of the company’s shares.

About Arrow Financial

(Get a rating)

Arrow Financial Corporation, a bank holding company, provides corporate and personal banking, financial products and services. The Company’s deposit products include demand deposits, interest-bearing checking accounts, savings deposits, term deposits and other term deposits. Its lending activities include commercial loans, such as term loans, term notes and lines of credit; and commercial real estate loans to finance real estate purchases, refinances, expansions and improvements of commercial properties, as well as loans for commercial construction and land development to finance projects.

Read more

This instant news alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to contact@marketbeat.com.

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MarketBeat tracks daily the highest rated and most successful research analysts on Wall Street and the stocks they recommend to their clients. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market takes off…and Arrow Financial wasn’t on the list.

Although Arrow Financial currently has an “N/A” rating among analysts, top-rated analysts believe these five stocks are better buys.

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