Musings on Markets

JANUARY 5, 2024

Thus, looking at only the companies in the S&P 500 may give you more reliable data, with fewer missing observations, but your results will reflect what large market cap companies in any sector or industry do, rather than what is typical for that industry.

Dividends 106

Dividends Risk Premium Equity Book Value 106

Benzinga

APRIL 18, 2022

DENVER, April 18, 2022 (GLOBE NEWSWIRE) -- National Bank Holdings Corporation (NYSE: NBHC ) reported: . . . . . . . . . . . . markets is again demonstrated by the announcement of our intent to acquire Rock Canyon Bank," said Tim Laney, Chairman, President and CEO of National Bank Holdings Corporation. on April 14, 2022.

Banking 40

Banking Book Value Equity Intangible Assets 40

FE International

DECEMBER 31, 2021

The traffic valuation method can be useful for devising a value for a non-monetized site (e.g. software or SaaS businesses) to drive revenue, will be valued significantly below fair market price using the traffic valuation method. They will weed out companies before they even come to market and help you along the way.

Weighted Average Cost of Capital 52

Weighted Average Cost of Capital Business Valuation Precedent Transaction Analysis Start-ups 52

Benzinga

MAY 4, 2022

May 04, 2022 (GLOBE NEWSWIRE) -- Seacoast Banking Corporation of Florida ("Seacoast") (NASDAQ: SBCF ), the holding company for Seacoast National Bank ("Seacoast Bank"), announced today that it has signed a definitive agreement to acquire Drummond Banking Company ("Drummond"), parent company of Drummond Community Bank based in Chiefland, FL.

Banking 40

Banking Book Value Marketability Technology 40

Benzinga

MAY 26, 2022

billion Expected to be accretive to earnings per share in year one Earn back of tangible book value dilution in approximately three years. MIDDLEFIELD, Ohio and ADA, Ohio, May 26, 2022 (GLOBE NEWSWIRE) -- Middlefield Banc Corp. on May 25, 2022, the transaction is valued at approximately $64.4

Book Value 40

Book Value Banking Marketability 40

Benzinga

MARCH 29, 2022

March 29, 2022 (GLOBE NEWSWIRE) -- Seacoast Banking Corporation of Florida ("Seacoast") (NASDAQ: SBCF ), the holding company for Seacoast National Bank ("Seacoast Bank"), announced today that it has signed a definitive agreement to acquire Apollo Bancshares, Inc. as of March 28, 2022, the Apollo transaction is valued at approximately $168.3

Banking 40

Banking Book Value Marketability 40

Benzinga

MAY 4, 2022

May 04, 2022 (GLOBE NEWSWIRE) -- United Community Banks, Inc. as of May 3, 2022. as of May 3, 2022. Progress is headquartered in Huntsville, Alabama, and operates 14 offices in high-growth, southeastern markets, including, Huntsville, Birmingham, Daphne and Tuscaloosa in Alabama and the Florida Panhandle. GREENVILLE, S.C.

Banking 40

Banking Book Value Marketability 40

Farrel Fritz

FEBRUARY 14, 2022

Justice Masley’s valuation decision in Quattro Parent LLC v Rakib , 2022 NY Slip Op 30190(U) [Sup Ct, NY County Jan. 14, 2022] is noteworthy for two reasons. million, or 59% [of Quattro], and the value of those shares at the time of breach” (citing Emposimato v CICF Acquisition Corp. , Summary Judgment on Damages. I have not.

Book Value 59

Book Value Appraisal Business Valuation Fair Market Value 59

Musings on Markets

NOVEMBER 10, 2022

Thus, it includes not only the direct costs of producing the product or service the firm sells, but also other expenses associated with operations, including S, G & A expenses and marketing costs. billion (which adds to book equity in 2022) in September 2022, and the R&D amortization for the most recent twelve months to be $18.9

Finance 98

Finance Start-ups Equity Equity Financing 98

Benzinga

JUNE 14, 2022

ARCHBOLD, Ohio, June 14, 2022 (GLOBE NEWSWIRE) -- Farmers & Merchants Bancorp, Inc. ("F&M", At March 31, 2022, PPSF reported $132.7 As of March 31, 2022, PPSF reported 1,167,025 shares of common stock outstanding. billion on a pro forma basis as of March 31, 2022. billion on a pro forma basis as of March 31, 2022.

Banking 40

Banking Book Value Equity Marketability 40

Benzinga

MARCH 21, 2023

As of December 31, 2022, Blackhawk had approximately $1.32 Estimated tangible book value per share dilution to First Mid is expected to be earned back in 1.9 As of December 31, 2022, Blackhawk had a loan-to-deposit ratio of approximately 65% and a fourth quarter cost of deposits of 0.51%. billion in deposits.

Book Value 40

Book Value Banking Equity Marketability 40

Benzinga

AUGUST 23, 2022

23, 2022 (GLOBE NEWSWIRE) -- HBT Financial, Inc. Town and Country Bank is a community bank serving markets in Central Illinois and St. Specializing in commercial banking, Town and Country Bank had total assets of $875 million, total loans held for investment of $624 million, and total deposits of $744 million as of June 30, 2022.

Banking 40

Banking Book Value Marketability 40

Benzinga

AUGUST 23, 2022

23, 2022 (GLOBE NEWSWIRE) -- HBT Financial, Inc. Town and Country Bank is a community bank serving markets in Central Illinois and St. Specializing in commercial banking, Town and Country Bank had total assets of $875 million, total loans held for investment of $624 million, and total deposits of $744 million as of June 30, 2022.

Banking 40

Banking Book Value Marketability 40

Benzinga

APRIL 28, 2023

The contagion of those three troubled institutions affected just about every other bank in the country in the quality of operating performance and the performance of each company's stock in the market. million, or 10.7% (annualized), from the fourth quarter of 2022. Book value per common share was $32.15

Dividends 40

Dividends Banking Book Value Equity 40

Benzinga

AUGUST 18, 2022

18, 2022 (GLOBE NEWSWIRE) -- Hampton Roads based TowneBank (NASDAQ: TOWN ) and Farmers Bankshares, Inc. Based on financials reported on June 30, 2022 the combined companies would have total assets of $17.5 This implies a deal value per share of $17.82, or approximately $56.0 ending Wednesday, August 17, 2022. SUFFOLK, Va.

Banking 40

Banking Book Value Marketability 40

Benzinga

APRIL 26, 2023

Salisbury"), (NASDAQ Capital Market: "SAL"), the holding company for Salisbury Bank and Trust Company (the "Bank"), announced results for its first quarter ended March 31, 2023. per basic common share, for the fourth quarter ended December 31, 2022 (fourth quarter 2022), and $3.5 million, or 33.8%, from first quarter 2022.

Dividends 40

Dividends Banking Equity Book Value 40

Andrew Stolz

JANUARY 12, 2022

They have 90% market share of in FCEV. Hyundai has allocated 2022 CAPEX of US$1.1bn, roughly 15% of its total CAPEX budget, to develop two further fuel cell plants. This gives it a market share of 5%, compared to Tesla’s 14.6%. Analysts are more positive about Hyundai than the market. makes it an interesting value play.

EBIT 52

EBIT Price to Book Liquidation Value Book Value 52

Benzinga

SEPTEMBER 28, 2022

27, 2022 (GLOBE NEWSWIRE) -- Provident Financial Services, Inc. NASDAQ: LBAI ) ("Lakeland"), the parent company of Lakeland Bank, today announced that they have entered into a definitive merger agreement pursuant to which the companies will combine in an all-stock merger, valued at approximately $1.3 ISELIN, N.J. and OAK RIDGE, N.J.,

Banking 40

Banking Book Value Finance Marketability 40

Benzinga

SEPTEMBER 6, 2023

Direct Line's brokered Commercial Lines generated written premiums 4 of £530 million in 2022, and delivered an average combined ratio 5 6 of approximately 96% across 2021 and 2022. billion in 2022. The transaction will result in the transfer of renewal rights, brands, employees, and systems to RSA.

Discounted Cash Flow 40

Discounted Cash Flow Net Present Value Book Value Dividends 40

Benzinga

FEBRUARY 13, 2023

As of December 31, 2022, FNBSM had total assets of $1.0 I know firsthand the strength and vibrancy of the Miami market from my past career experience. We also appreciate FNBSM's strong credit focus and their ability to maintain a solid core deposit base despite a very competitive market." per share, or 3% in 2024.

Banking 40

Banking Book Value Dividends Marketability 40

Benzinga

SEPTEMBER 28, 2022

27, 2022 (GLOBE NEWSWIRE) -- Provident Financial Services, Inc. NASDAQ: LBAI ) ("Lakeland"), the parent company of Lakeland Bank, today announced that they have entered into a definitive merger agreement pursuant to which the companies will combine in an all-stock merger, valued at approximately $1.3 ISELIN and OAK RIDGE, NJ.,

Banking 40

Banking Book Value Finance Marketability 40

Valutico

DECEMBER 15, 2022

Below, we outline what this method is, the different ways it works as well as key considerations when using this approach to value a company. Valuations using multiples is one of the three main approaches to valuing a business, sometimes referred to as the ‘market-based approach’. are included in the transaction values.

Precedent Transaction Analysis 52

Precedent Transaction Analysis Comparable Company Analysis EBITDA Enterprise Value 52

Valutico

DECEMBER 15, 2022

Below, we outline what this method is, the different ways it works as well as key considerations when using this approach to value a company. Valuations using multiples is one of the three main approaches to valuing a business, sometimes referred to as the ‘market-based approach’. are included in the transaction values.

Precedent Transaction Analysis 52

Precedent Transaction Analysis Comparable Company Analysis EBITDA Enterprise Value 52

Musings on Markets

FEBRUARY 15, 2023

As I have argued in all four of my posts, so far, about 2022, it was year when we saw a return to normalcy on many fronts, as treasury rates reverted back to pre-2008 levels, and risk capital discovered that risk has a downside.

Start-ups 52

Start-ups Equity Risk Premium Risk-free Rate 52

Musings on Markets

JANUARY 6, 2023

Counter made-up numbers : It remains true that people (analysts, market experts, politicians) often make assertions based upon either incomplete or flawed data, or no data at all. Data universe : In my sample, I include all publicly traded firms with market capitalizations that exceed zero, traded anywhere in the world.

Risk Premium 52

Risk Premium Dividends Start-ups EBITDA 52

Benzinga

FEBRUARY 27, 2023

per Broadmark share, representing a 41% premium or approximately 0.85x tangible book value as of December 31, 2022. Based on the closing price of Ready Capital's common stock on February 24, 2023, the market capitalization of the combined company is approximately $2.2

Book Value 40

Book Value Finance Market Capitalization Equity 40

Reynolds Holding

FEBRUARY 12, 2024

The San Fransisco-based bank’s loan accounting uses “fair value” treatment rather than the standard amortized cost/CECL approach, which is delivering earnings — and more importantly capital levels — wildly different from those reported by other banks and consumer instalment lenders with similar products and credit profiles. percent to 8.9

Banking 45

Banking Book Value Start-ups Technology 45

Benzinga

JUNE 12, 2023

The Acquisitions will offer investors exposure to new rental markets, supporting the REIT's growth objectives, including increased rental revenue and net operating income, while also expecting to provide a strong foundation for future acquisition and development opportunities.

Book Value 40

Book Value Marketability Fair Market Value Banking 40

Reynolds Holding

FEBRUARY 21, 2024

they opted for pooling accounting, in which goodwill was not recognized and therefore not amortized; the book value of the assets and liabilities of the two businesses were just added together. The evidence is that amortization does not contribute directly to “value-relevance” [8] for it does not directly affect share prices.

Intangible Assets 45

Intangible Assets Book Value Banking Finance 45

Benzinga

JULY 10, 2023

SMGI" or the "Company") (OTCQB: SMGI ), a growth-oriented transportation services company focused on the domestic infrastructure logistics market, is pleased to announce the successful acquisition and merger of the Barnhart Transportation group of companies ("Barnhart"), a 20 year-old established logistics service provider based in Pennsylvania.

EBITDA 40

EBITDA Book Value Capital Structure Marketability 40

Reynolds Holding

NOVEMBER 8, 2023

Continuing the ESG Performance and Enterprise Value series, this post applies regression analysis to a global sample of companies over a five-year period (June 2017 to June 2022), in order to explore the relationship from a regional perspective. In Which Region Does Stronger ESG Performance Translate into Greater Valuation?

Enterprise Value 52

Enterprise Value Price to Book Marketability Book Value 52

Reynolds Holding

MAY 11, 2023

According to the 2022 CS Annual Report , the book value per share was 11.45 This means that, compared with the account value of 2022, CS shareholders lost more than 42 billion CHF. Accounting values are clearly imperfect, but they are the metric that matters for determining bank insolvency.

Banking 45

Banking Equity Book Value Treasury 45

Benzinga

JULY 26, 2023

The Transaction provides diversification with no single end market contributing more than approximately a third of adjusted EBIT. Robust Growth Prospects with Strong Backlog: Operations in Western Australia and Queensland serve as a growth pillar given the large and diverse resource markets combined with a mining friendly jurisdiction.

EBIT 40

EBIT Debt Financing Book Value Finance 40

Shephard Mullin M&A

JUNE 8, 2023

By early 2021, the industry had effectively made a full recovery in spite of supply chain and inventory challenges and M&A activity in this space rebounded accordingly, with a record 383 transactions completed in 2021, and an estimated 374 transactions completed in 2022. Despite larger U.S. Cash and Other Working Capital.

Finance 52

Finance Going Concern Value Book Value Marketability 52

Musings on Markets

MAY 7, 2023

While differentiating between good and bad banks can be straightforward, it does not follow that buying good banks and selling bad banks is a good investment strategy, since its success depends entirely on what the market is incorporating into stock prices.

Banking 92

Banking Price to Book Dividends Book Value 92

Musings on Markets

MARCH 8, 2023

That company is obviously in no position to be paying dividends, and if it does not have cash balances from prior periods to cover its FCFE deficit, will have to raise fresh equity (by issuing shares to the market).

Dividends 102

Dividends Start-ups Corporate Finance Finance 102

Musings on Markets

FEBRUARY 27, 2023

Note that this framework applies for all businesses, from the smallest, privately owned businesses, where debt takes the form of bank loans and even credit card borrowing and equity is owner savings, the largest publicly traded companies, where debt can be in the form of corporate bonds and equity is shares held by public market investors.

Equity 52

Equity EBITDA Start-ups Net Debt 52