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DEADLINE ALERT: Bronstein, Gewirtz & Grossman, LLC Reminds Investors of Class Action Against Dr. Reddy’s Laboratories Ltd. (RDY) & Lead Plaintiff Deadline: October 24, 2017

By Bronstein, Gewirtz and Grossman, LLC

NEW YORK, NY / ACCESSWIRE / October 20, 2017 / Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Dr. Reddy’s Laboratories Ltd. (“Dr. Reddy’s” or the “Company”) (NYSE: RDY) and certain of its officers, on behalf of a class who purchased Dr. Reddy’s securities between June 17, 2015 and August 10, 2017, both dates inclusive (the “Class Period”). Such investors are encouraged to join this case by visiting the firm’s site: www.bgandg.com/rdy.

This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.

The Complaint alleges that, throughout the class period, Defendants issued materially false and misleading statements and/or failed to disclose that: (1) Dr. Reddy’s lacked an effective corporate quality system; and (2) consequently, defendants’ public statements were materially false and misleading at all relevant times. Once true details entered the market, the lawsuit claims that investors suffered damages.

A class action lawsuit has already been filed. If you wish to review a copy of the Complaint, you can visit the firm’s site: www.bgandg.com/rdy, or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Dr. Reddy’s, you have until October 24, 2017 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.

Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.

Contact:

Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | info@bgandg.com

SOURCE: Bronstein, Gewirtz & Grossman, LLC

ReleaseID: 473911

F & M Bank Corp. Announces Third Quarter Earnings and Dividend Increase

By F&M Bank Corp

TIMBERVILLE, VA / ACCESSWIRE / October 20, 2017 / F & M Bank Corp. (OTCQX: FMBM), parent company of Farmers & Merchants Bank, announces its financial results for the quarter ending September 30, 2017.

Selected highlights for the quarter include:

  • Net income of $2.55;
  • Net interest margin of 4.48%;
  • Net interest income increased $413,000;
  • Return on Average Assets of 1.34%;

Dean Withers, President and CEO, commented, “We are pleased to announce third quarter earnings of $2.55 million, which is in line with the same period last year. Growth in loans held for investment totaled $16.6 million for the third quarter of 2017 and $41.9 million compared to the same period last year. Our net interest margin at 4.48% continues to be driven by our strong loan to asset ratio. Non-performing assets are relatively stable versus second quarter and have decreased $560,000 versus the same period in 2016.”

Withers stated,”On October 19, 2017 our Board of Directors declared a third quarter dividend of $.24 per share to common shareholders. This is an increase of $.01 over the prior quarter and $.02 over the same period last year. Based on our most recent trade price of $30.45 per share this constitutes a 3.15% yield on an annualized basis. The dividend will be paid on November 16, 2017, to shareholders of record as of November 2, 2017.” Highlights of our financial performance are included below.

F & M Bank Corp. is an independent, locally-owned, financial holding company, offering a full range of financial services, through its subsidiary, Farmers & Merchants Bank’s thirteen banking offices in Rockingham, Shenandoah, Page and Augusta Counties, Virginia. The Bank also provides additional services through a loan production office located in Penn Laird, VA and through its subsidiaries, VBS Mortgage and VS Title, both of which are located in Harrisonburg, VA. Additional information may be found by contacting us on the internet at www.fmbankva.com or by calling (540) 896-8941.

This press release may contain “forward-looking statements” as defined by federal securities laws, which may involve significant risks and uncertainties. These statements address issues that involve risks, uncertainties, estimates and assumptions made by management, and actual results could differ materially from the results contemplated by these forward-looking statements. Factors that could have a material adverse effect on our operations and future prospects include, but are not limited to, changes in: interest rates, general economic conditions, legislative and regulatory policies, and a variety of other matters. Other risk factors are detailed from time to time in our Securities and Exchange Commission filings. Readers should consider these risks and uncertainties in evaluating forward-looking statements and should not place undue reliance on such statements. We undertake no obligation to update these statements following the date of this press release.

F&M Bank Corp.
Key Statistics

2017 2016
Q3
Q2
Q1
YTD
Q3
Q2
Q1
YTD
Net Income (000’s)
2,550 2,328 2,345 7,223 2,601 2,358 2,090 7,049
Net Income available to Common
2,447 2,223 2,241 6,911 2,474 2,231 1,962 6,667
Earnings per common share
0.75 0.68 0.68 2.11 0.75 0.68 0.60 2.03
Return on Average Assets
1.34 % 1.28 % 1.29 % 1.30 % 1.43 % 1.35 % 1.27 % 1.35 %
Return on Average Equity
11.28 % 10.48 % 10.84 % 10.83 % 11.99 % 11.08 % 10.07 % 11.03 %
Dividend Payout Ratio
31.91 % 34.07 % 32.12 % 32.67 % 29.22 % 29.46 % 31.81 % 30.07 %
Net Interest Margin
4.48 % 4.51 % 4.39 % 4.47 % 4.23 % 4.37 % 4.39 % 4.33 %
Yield on Average Earning Assets
5.08 % 5.08 % 4.93 % 5.05 % 4.80 % 4.90 % 4.91 % 4.87 %
Cost of Average Interest Bearing Liabilities
0.85 % 0.78 % 0.77 % 0.82 % 0.79 % 0.75 % 0.74 % 0.76 %
Net Interest Spread
4.23 % 4.30 % 4.16 % 4.23 % 4.01 % 4.15 % 4.17 % 4.11 %
Provision for Loan Losses (000’s)
$ $ $ $ $ $ $
Net Charge-offs
$ 274 $ 100 $ 227 $ 601 $ 497 $ 671 $ 42 $ 1,210
Net Charge-offs as a % of Loans
0.18 % 0.07 % 0.15 % 0.13 % 0.34 % 0.47 % 0.03 % 0.28 %
Non-Performing Loans (000’s)
$ 5,662 $ 5,677 $ 5,091 $ 5,662 $ 6,196 $ 5,545 $ 6,709 $ 6,196
Non-Performing Loans to Total Assets
0.74 % 0.76 % 0.71 % 0.74 % 0.83 % 0.76 % 0.98 % 0.83 %
Non-Performing Assets (000’s)
$ 7,810 $ 7,685 $ 7,184 $ 7,810 $ 8,370 $ 8,331 $ 9,486 $ 8,370
Non-Performing Assets to Assets
1.02 % 1.03 % 1.00 % 1.02 % 1.12 % 1.14 % 1.38 % 1.12 %
Efficiency Ratio (NOTE: reflects change in subsidiary presentation)
62.12 % 63.67 % 63.27 % 63.01 % 60.70 % 59.64 % 63.59 % 61.26 %

(1) The net interest margin is calculated by dividing tax equivalent net interest income by total average earning assets. Tax equivalent interest income is calculated by grossing up interest income for the amounts that are nontaxable (i.e. municipal securities and loan income) then subtracting interest expense. The tax rate utilized is 34%. The Company’s net interest margin is a common measure used by the financial service industry to determine how profitable earning assets are funded. Because the Company earns nontaxable interest income from municipal loans and securities, net interest income for the ratio is calculated on a tax equivalent basis as described above.

(2) The efficiency ratio is not a measurement under accounting principles generally accepted in the United States. The efficiency ratio is a common measure used by the financial service industry to determine operating efficiency. It is calculated by dividing non-interest expense by the sum of tax equivalent net interest income and non-interest income excluding gains and losses on the investment portfolio. The Company calculates this ratio in order to evaluate how efficiently it utilizes its operating structure to create income. An increase in the ratio from period to period indicates the Company is losing a greater percentage of its income to expenses.

F & M Bank Corp.
Financial Highlights

For Nine Months
Ended September 30,
INCOME STATEMENT
Unaudited
2017
Unaudited
2016
Interest and Dividend Income
$ 24,954,457 $ 23,792,877
Interest Expense
2,861,460 2,645,378
Net Interest Income
22,092,997 21,147,499
Non-Interest Income
5,939,934 4,115,586
Provision for Loan Losses
Other Non-Interest Expenses
18,125,666 15,872,275
Income Before Income Taxes
9,907,265 9,390,810
Provision for Income Taxes
2,632,971 2,187,368
Less Minority Interest income
51,643 154,200
Net Income
$ 7,222,651 $ 7,049,242
Dividend on preferred stock
312,009 382,500
Net Income available to common shareholders
$ 6,910,642 $ 6,666,742
Average Common Shares Outstanding
3,271,863 3,286,165
Net Income Per Common Share
2.11 2.03
Dividends Declared
.69 .61

BALANCE SHEET
Unaudited
September 30, 2017
Unaudited
September 30, 2016
Cash and Due from Banks
$ 8,800,422 $ 7,718,975
Interest Bearing Bank Deposits
945,395 285,630
Federal Funds Sold
4,151,000
Loans Held for Sale
58,177,450 83,164,093
Loans Held for Investment
619,959,738 578,088,508
Less Allowance for Loan Losses
(6,941,982 ) (7,570,826 )
Net Loans Held for Investment
613,017,756 570,517,682
Securities
36,407,258 38,705,043
Other Assets
46,336,325 40,749,655
Total Assets
$ 763,684,606 $ 745,292,078
Deposits
$ 562,379,965 $ 527,823,741
Short Term Debt
42,128,000 51,228,742
Long Term Debt
50,840,363 65,089,286
Other Liabilities
17,180,327 13,624,827
Total Liabilities
672,528,655 657,766,596
Preferred Stock
7,528,873 9,425,123
Common Equity
83,627,078 78,100,359
Stockholders’ Equity
91,155,951 87,525,482
Total Liabilities and Stockholders’ Equity
$ 763,684,606 $ 745,292,078
Book Value Per Common Share
$ 25.58 $ 23.77
Tangible Book Value Per Common Share
$ 25.42 $ 23.56

CONTACT:

Neil Hayslett, EVP/Chief Administrative Officer
540-896-8941 or NHayslett@FMBankVA.com

SOURCE: F & M Bank Corp.

ReleaseID: 478384

IIROC Trade Halt – Concordia International Corp.

Toronto, Ontario–(Newsfile Corp. – October 20, 2017) – The following issues have been halted by IIROC:

Company:

Concordia International Corp.

TSX Symbol:

CXR (all issues)

Reason:

Pending News

Halt Time (ET)

09:21

IIROC can make a decision to impose a temporary suspension of trading in a security of a publicly listed company, usually in anticipation of a material news announcement by the company. Trading halts are issued based on the principle that all investors should have the same timely access to important company information. IIROC is the national self-regulatory organization which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada.

– 30 –

For further information: IIROC Inquiries 1-877-442-4322 (Option 3) – Please note that IIROC is not able to provide any additional information regarding a specific trading halt. Information is limited to general enquiries only.

IIROC Trade Resumption – Concordia International Corp.

Toronto, Ontario–(Newsfile Corp. – October 20, 2017) – Trading resumes in:

Company:

Concordia International Corp.

TSX Symbol:

CXR (all issues)

Resumption Time (ET):

10:15

IIROC can make a decision to impose a temporary suspension of trading in a security of a publicly listed company, usually in anticipation of a material news announcement by the company. Trading halts are issued based on the principle that all investors should have the same timely access to important company information. IIROC is the national self-regulatory organization which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada.

– 30 –

For further information: IIROC Inquiries 1-877-442-4322 (Option 3) – Please note that IIROC is not able to provide any additional information regarding a specific trading halt. Information is limited to general enquiries only.

Investor Network: Western Alliance Bancorporation to Host Earnings Call

By Investor Network

NEW YORK, NY / ACCESSWIRE / October 20, 2017 / Western Alliance Bancorporation (NYSE: WAL) will be discussing their earnings results in their Q3 Earnings Call to be held on October 20, 2017 at 12:00 PM Eastern Time.

To listen to the event live – visit https://www.investornetwork.com/company/2481.

Replay Information

The replay will be available online at https://www.investornetwork.com/company/2481.

About Investor Network

Investor Network (IN) is a financial content community, serving millions of unique investors market information, earnings, commentary and news on the what’s trending. Dedicated to both the professional and the average traders, IN offers timely, trusted and relevant financial information for virtually every investor. IN is an Issuer Direct brand, to learn more or for the latest financial news and market information, visit www.investornetwork.com. Follow us on Twitter @investornetwork.

SOURCE: Investor Network

ReleaseID: 478097

Investor Network: CoBiz Financial Inc. to Host Earnings Call

By Investor Network

NEW YORK, NY / ACCESSWIRE / October 20, 2017 / CoBiz Financial Inc. (NASDAQ: COBZ) will be discussing their earnings results in their Q3 Earnings Call to be held on October 20, 2017 at 11:00 AM Eastern Time.

To listen to the event live – visit https://www.investornetwork.com/company/23784.

Replay Information

The replay will be available online at https://www.investornetwork.com/company/23784.

About Investor Network

Investor Network (IN) is a financial content community, serving millions of unique investors market information, earnings, commentary and news on the what’s trending. Dedicated to both the professional and the average traders, IN offers timely, trusted and relevant financial information for virtually every investor. IN is an Issuer Direct brand, to learn more or for the latest financial news and market information, visit www.investornetwork.com. Follow us on Twitter @investornetwork.

SOURCE: Investor Network

ReleaseID: 478095

DEADLINE MONDAY: Levi & Korsinsky, LLP Reminds Shareholders of Teva Pharmaceutical Industries Ltd. of a Class Action Lawsuit and a Lead Plaintiff Deadline of October 23, 2017 – TEVA

By Levi & Korsinsky, LLP

NEW YORK, NY / ACCESSWIRE / October 20, 2017 / The following statement is being issued by Levi & Korsinsky, LLP:

To: All persons or entities who purchased or otherwise acquired American Depositary Shares of Teva Pharmaceutical Industries Ltd. (“Teva”) (NYSE: TEVA) between November 15, 2016 and August 2, 2017. You are hereby notified that a securities class action lawsuit has been commenced in the United States District Court for the Eastern District of Pennsylvania. To get more information, go to:

http://www.zlk.com/pslra-sbm/teva-pharmaceutical-industries-ltd?wire=1

or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.

The complaint alleges that, throughout the Class Period, Defendants issued materially false and/or misleading statements and/or failed to disclose adverse information concerning the Company’s business and outlook. In particular, it is alleged that Teva failed to disclose and/or omitted the true negative impact of the acquisition and integration of Actavis Generics on the Company’s financial results and business prospects.

If you suffered a loss in Teva, you have until October 23, 2017 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.

Levi & Korsinsky is a national firm with offices in New York, California, Connecticut, and Washington D.C. The firm’s attorneys have extensive expertise and experience representing investors in securities litigation, and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:

Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
30 Broad Street – 24th Floor
New York, NY 10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
www.zlk.com

SOURCE: Levi & Korsinsky, LLP

ReleaseID: 478386

DEADLINE ALERT: Levi & Korsinsky, LLP Reminds Shareholders of Top Ships Inc. of a Class Action Lawsuit and a Lead Plaintiff Deadline of October 23, 2017 – TOPS

By Levi & Korsinsky, LLP

NEW YORK, NY / ACCESSWIRE / October 20, 2017 / The following statement is being issued by Levi & Korsinsky, LLP:

To: All persons or entities who purchased or otherwise acquired securities of Top Ships Inc. (“Top Ships”) (NASDAQ: TOPS) between January 17, 2017 and August 22, 2017. You are hereby notified that a securities class action lawsuit has been commenced in the United States District Court for the Eastern District of New York. To get more information, go to:

http://www.zlk.com/pslra-sbm/top-ships-inc?wire=1

or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.

The Complaint alleges that Top Ships’ CEO, Evangelos J. Pistiolis, caused Top Ships to engage in a series of manipulative shares issuance/sales transactions with Kalani Investments Limited and certain of its entities. These transactions allowed Top Ships to finance related-party transactions and acquisitions that primarily benefited Pistiolis, his related companies, and other Company insiders.

If you suffered a loss in Top Ships, you have until October 23, 2017 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.

Levi & Korsinsky is a national firm with offices in New York, California, Connecticut, and Washington D.C. The firm’s attorneys have extensive expertise and experience representing investors in securities litigation, and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:

Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
30 Broad Street – 24th Floor
New York, NY 10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
www.zlk.com

SOURCE: Levi & Korsinsky, LLP

ReleaseID: 478387

SHAREHOLDER ALERT: Levi & Korsinsky, LLP Reminds Shareholders of Dr. Reddy’s Laboratories Ltd. of Commencement of a Class Action Lawsuit and a Lead Plaintiff Deadline of October 24, 2017 – RDY

By Levi & Korsinsky, LLP

NEW YORK, NY / ACCESSWIRE / October 20, 2017 / The following statement is being issued by Levi & Korsinsky, LLP:

To: All persons or entities who purchased or otherwise acquired securities of Dr. Reddy’s Laboratories Ltd. (“Dr. Reddy’s”) (NYSE: RDY) between June 17, 2015 and August 10, 2017. You are hereby notified that a securities class action lawsuit has been commenced in the United States District Court for the District of New Jersey. To get more information, go to:

http://www.zlk.com/plsra-c/dr-reddys-laboratories-ltd?wire=1

or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.

The complaint alleges that, throughout the class period Defendants issued materially false and/or misleading statements and/or failed to disclose that: (1) Dr. Reddy’s lacked an effective corporate quality system; and (2) as a result, defendants’ public statements were materially false and misleading at all relevant times. On November 6, 2015, Dr. Reddy’s announced that it had received a warning letter issued by the U.S. Food and Drug Administration concerning inadequate quality control standards at three of Dr. Reddy’s manufacturing plants in India. Then on August 10, 2017, Dr. Reddy’s disclosed that the Regierung von Oberbayern (the district government of Upper Bavaria) did not renew the good manufacturing practices compliance certificate of a manufacturing unit of Dr. Reddy’s German subsidiary Betapharm Arzneimittel, located in India.

If you suffered a loss in Dr. Reddy’s, you have until October 24, 2017 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.

Levi & Korsinsky is a national firm with offices in New York, California, Connecticut, and Washington D.C. The firm’s attorneys have extensive expertise and experience representing investors in securities litigation, and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:

Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
30 Broad Street – 24th Floor
New York, NY 10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
www.zlk.com

SOURCE: Levi & Korsinsky, LLP

ReleaseID: 478388

2 Trending Tech Stocks To Watch On Friday

By techstockinsider.com

CORAL GABLES, FL / ACCESSWIRE / October 20, 2017 / The technology sector is one of the best performing sectors in the market right now, and it’s showing no signs of slowing down going into the new year. In fact, a recent Goldman Sachs report told investors that the best sectors to invest in right now are technology and financial. With that being said, here are two trending stocks to watch during Friday’s trading session.

Lexington Biosciences, Inc. (LXGTF) a development stage medical device company that’s been operating within the healthcare industry has seen an increase in trading activity this month. The company’s product Heart Sentry, is a technology that measures and monitors vascular health to help detect for potential cardiovascular diseases at its early stages.

(LXGTF)’s price per share has jumped 31% from lows on 10/2/17 of $0.2918 to Thursday’s (10/19/17) closing price of $0.385.

EnerJex Resources, Inc. (NYSE American: ENRJ) stock is surging 127.27% during Friday’s pre-market session. The jump came after the company released news announcing they signed an definitive merger agreement with AgEagle Aerial Systems, Inc., a commercial drone company.

“Our goal at EnerJex has been to maximize stockholder value and we believe AgEagle, with its strong leadership team, is well-positioned to capitalize on the fast-growing agriculture drone market,” stated Louis Schott, CEO of EnerJex. “While AgEagle is focused on the agriculture market, we believe there is an opportunity for drones in the oil and gas industry.”

(ENRJ) price per shares ran on Friday pre-market from lows of $0.33 to intraday highs of $0.75.

About TechStockInsider.com:

TechStockInsider.com is owned by Midam Ventures, LLC has been compensated $100,000.00 by Ellis Stewart, LLC for a period beginning October 1, 2017 and ending November. 1, 2017 to publicly disseminate information about (LXGTF). We may buy or sell additional shares of (LXGTF) in the open market at any time, including before, during or after the Website and Information, provide public dissemination of favorable Information. We own zero shares. Click Here For Full Disclaimer.

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This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither TSI nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://TechStockInsider.com.

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TSI, the Author, and the Reviewer (collectively referred to as the “Publishers”) are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted by the Publishers whatsoever for any direct, indirect or consequential loss arising from the use of this document. The Publishers expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise, arising from any reliance placed on the information in this document. Additionally, the Publishers do not (1) guarantee the accuracy, timeliness, completeness, or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

Contact:

News@TechStockInsider.com

SOURCE: TechStockInsider.com

ReleaseID: 478392