07 JulFinancial Illiteracy: The Local Solution

Pershing Advisor Solutions CEO Mark Tibergien was an early and vocal proponent of the serious industry need to attract and retain younger advisors to replace departing (and dying) advisors, citing data that since 2008 there are 50,000 fewer professionals in the industry. That decline is coming as the demand for advice increases in lockstep with the rising number of retired or nearly retired boomers. In an interview for the IA 35 for 35 in May, Tibergien reported that PAS has seen a rise in younger principals at firms, and that larger RIA firms in particular have become more systematic in finding new employees. However, he said the broader issue is whether weve conditioned the population to see the advisory profession as a good career choice.

Rather than just preach about this issue, Tibergien has for over 10 years been doing something, and something quite personal, about it. Wondering where he could make an impact, he followed the example of Jim Joslin, chairman and CEO of TFC Financial Management in Boston, by funding a financial literacy program at his high school alma materGladstone High Schoolin the Upper Peninsula of Michigan (Joslin founded a similar program at his Edina, Minnesota high school).

Drily noting that incrementalism shouldnt be denigrated, Tibergiens long-time funding of a personal economics course for high school seniors may well lead to more recruits for the financial advice business, he hopes, but at a minimum will also produce more informed consumers.

At the Pershing Insite conference in Orlando in early June, Tibergien and the teacher of that Gladstone High course, Erika Fix, made a TED-like presentation on the program. Tibergien encouraged attendees to make similar investments in their high school alma maters, saying that even a small investment can have a big impact. They suggested advisors start by visiting the #buildfinancialfutures Twitter page (and reading the Champlain College Center for Financial Literacys National Report Card on State Efforts to Improve Financial Literacy in High Schools).

In her presentation and a separate interview, Fix presented the scope of the financial illiteracy problem, and suggested a solution that she and other personal finance teachers can provide.

Teenagers, she said, are the No. 1 credit target, payday loan lending is one of the fastest growing industries in America and over all, Americans now owe $1.2 trillion in student loan debt. The financial world is more complex today, said Fix, and teenagers live in a world of mass consumerism. If they sign up for the credit card solicitations they get, they run a serious risk of falling into a debt trap.

But hold on, theyre teenagers, right? Shouldnt their parents be teaching their children these important skills? First, Fix said, most parents arent comfortable talking to their kids about the familys finances, which is especially true if the parents are poor. Moreover, many adults are far from being financially literate, and thats the case for even some of the most educated and wealthiest Americans (see MDs Need More Financial Literacy, Too). An FDIC report found that 28% of adult Americans are either unbanked or underbanked, and a separate survey found that 40% of adults would give themselves a grade of C or lower on their knowledge of finances.

06 JulPre-Market News Alert on: Cerner (NASDAQ:CERN), Realty Income (NYSE:O …

Umpqua Holdings Corporation, through its auxiliaries, engages in the commercial and retail banking, and retail brokerage businesses. It operates through two segments, Community Banking and Home Lending. The Community Banking segment provides loan and deposit products to business and retail customers. The Home Lending segment originates, sells, and services residential mortgage loans. It also offers various deposit products, such as non-interest bearing checking accounts, interest bearing checking and savings accounts, money market accounts, and certificates of deposit; financial planning, trust, and investments services to high net worth individuals; and retail brokerage and investment advisory services.

Comerica Incorporated (NYSE:CMA), ended its Thursday’s trading session with -0.91% loss, and closed at $51.50.

Comerica Incorporated (CMA) will declare its second quarter 2015 earnings prior to the market opening on Friday, July 17, 2015.

Comerica will host a conference call to review second quarter 2015 financial results at 8 am CT Friday, July 17, 2015. Interested parties may access the conference call by calling (877) 523-5249 or (210) 591-1147 (event ID No. 61399381). The call and a replay also will be accessible for one year via Comerica’s Investor Relations page at www.comerica.com.

Comerica Incorporated, through its auxiliaries, provides various financial products and services. It operates through three segments: Business Bank, Retail Bank, and Wealth Administration. The Business Bank segment offers various products and services, such as commercial loans and lines of credit, deposits, cash administration, capital market products, international trade finance, letters of credit, foreign exchange administration services, and loan syndication services to middle market businesses, multinational corporations, and governmental entities.

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All visitors are advised to conduct their own independent research into individual stocks before making a purchase decision.

Information contained in this article contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, counting statements regarding the predictable continual growth of the market for the corporation’s products, the corporation’s ability to fund its capital requirement in the near term and in the long term; pricing pressures; etc.

Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, aims, assumptions, or future events or performance may be forward looking statements. Forward-looking statements are based on expectations, estimates, and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements may be identified through the use of such words as expects, will, anticipates, estimates, believes, or by statements indicating certain actions may, could, should might occur.

06 JulHuntington Bancshares Given New $12.50 Price Target at Jefferies Group (HBAN)

Huntington Bancshares (NASDAQ:HBAN) had its target price boosted by Jefferies Group from $11.50 to $12.50 in a report issued on Thursday, MarketBeat reports.

Jefferies Group has also updated their ratings on a number of other financials stocks in the last week. The firm raised its price target on shares of Western Alliance Bancorporation from $37.00 to $40.00. Also, Jefferies Group raised its price target on shares of Wells Fargo #038; Co. from $60.00 to $62.00. Finally, Jefferies Group raised its price target on shares of Webster Financial Co. from $37.00 to $40.00.

In other Huntington Bancshares news, CEO Stephen D. Steinour acquired 10,000 shares of the stock in a transaction that occurred on Friday, April 24th. The stock was purchased at an average cost of $10.79 per share, for a total transaction of $107,900.00. The acquisition was disclosed in a legal filing with the Securities amp; Exchange Commission, which can be accessed through this link.

Shares of Huntington Bancshares (NASDAQ:HBAN) traded down 1.05% during mid-day trading on Thursday, hitting $11.35. The stock had a trading volume of 6,485,526 shares. Huntington Bancshares has a 1-year low of $8.80 and a 1-year high of $11.72. The stock’s 50-day moving average is $11.34 and its 200-day moving average is $10.85. The company has a market cap of $9.18 billion and a P/E ratio of 15.34.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings data on Wednesday, April 22nd. The company reported $0.19 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.19. The company had revenue of $706.90 million for the quarter, compared to the consensus estimate of $712.00 million. During the same quarter in the previous year, the company posted $0.17 earnings per share. On average, analysts predict that Huntington Bancshares will post $0.81 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Wednesday, June 17th were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date of this dividend was Monday, June 15th.

HBAN has been the subject of a number of other recent research reports. Analysts at Zacks upgraded shares of Huntington Bancshares from a hold rating to a buy rating and set a $13.00 price target on the stock in a research note on Wednesday. Analysts at Vetr upgraded shares of Huntington Bancshares from a hold rating to a buy rating and set a $11.14 price target on the stock in a research note on Monday. Analysts at SunTrust reiterated a hold rating and set a $12.00 price target (up previously from $11.00) on shares of Huntington Bancshares in a research note on Monday. Analysts at Credit Suisse raised their price target on shares of Huntington Bancshares from $11.50 to $13.00 in a research note on Friday, June 26th. Finally, analysts at Stephens initiated coverage on shares of Huntington Bancshares in a research note on Thursday, June 18th. They set an equal weight rating on the stock. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and ten have issued a buy rating to the stock. The stock presently has an average rating of Hold and an average target price of $11.71.

Huntington Bancshares Incorporated (NASDAQ:HBAN) is a diversified regional bank holding company. The Company operates through its subsidiary, The Huntington National Bank (the Bank). It provides commercial, small business, consumer and mortgage banking services, automobile financing, equipment leasing, investment management, trust services, brokerage services, insurance programs, and other financial products and services. It operates in five segments: Retail and Business Banking, Commercial Banking, Automobile Finance and Commercial Real Estate, Regional Banking and The Huntington Private Client Group, and Home Lending. Its loan portfolio includes commercial and industrial, commercial real estate, construction CRE, automobile, home equity, residential mortgage and consumer loans/leases. The Bank has approximately 14 private client group offices and 715 branches, including 404 in Ohio, 43 in Indiana, 179 in Michigan, 31 in West Virginia, 48 in Pennsylvania and 10 in Kentucky.

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06 JulHow to Pick the Best Credit Union for You

I enjoy the small, personal touch that they give, says Ron Lau.

Lau is one of an estimated 100 million members of the nations 6,557 credit unions that hold more than $1 trillion in assets.

From our Solutions Center: Find a better checking account in seconds

With so many choices, how do you pick the credit union thats right for you?

Compare rates and fees, of course, but you should check out these criteria, too:

1. Can I join?

Anybody can join a credit union, but not necessarily any credit union. Each credit union serves its field of membership, a common bond among members, says myCreditUnion.gov, the website of the National Credit Union Administration.

Eligibility may be based on:

  • Employer: Many employers sponsor their own credit unions.
  • Location: Many credit unions serve anyone who lives, works, worships or attends school in an area.
  • Family: Most credit unions allow members families to join. So if someone in your family is a member of a credit union, you may be eligible, too.
  • Group membership: Church, school, alumni, labor union, homeowners association are among groups that may define a bond.

For example, BECU in Washington state was founded in 1935 by 18 Boeing employees, but now it is 900,000 members strong, has more than $13 billion in assets and is open to all state residents and students attending Washington colleges and universities.

2. Does it offer services I need?

Start with the basics, experts say: Make sure that your credit union offers home lending services, issues credit and debit cards, provides auto loans, features a good savings program, and offers financial counseling.

Are you looking for easy access to ATMs or branches nationwide?

Because credit unions are not-for-profit, we cooperate with each other, Joyce Gaines, of Brightstar Credit Union, told Money Talks News financial expert Stacy Johnson. Our members can go in other branches nationwide and access their accounts to make a deposit or withdrawal.

Unlike big banks, most credit unions dont have 24/7 call centers, so if thats important to you, ask if banking is restricted to business hours. Also, if you need it, see if the credit union offers mobile apps to view your account balances, pay bills, deposit checks and send money online.

Maybe youre looking for services such as investment, retirement and estate planning. Some credit unions offer personal finance help like their big-bank cousins, others dont. So be sure to ask.

3. Which is the best located?

Online resources can help. MyCreditUnion.gov offers a tool that identifies credit union branches by ZIP code or city, shows which have drive-thrus or ATMs, and provides details including address, phone number and website. Similar tools are available from ASmarterChoice.org and regional credit union groups, such as Pennsylvanias ibelong.org. Most sites offer maps and directions to branches.

4. Will my money be safe?

The National Credit Union Administration (NCUA), with the backing of the US government, operates and manages the National Credit Union Share Insurance Fund, insuring up to $250,000 for each member the deposits of all federal credit unions and the majority of state-chartered credit unions (many credit unions hold dual charters). Some state-chartered credit unions may insure their funds through private insurance companies.

You can check most credit unions strength via NCUAs Financial Performance Reports. You will need to know its charter number.

Things to look for:

  • Peer average ratio: How the credit union compares to federally insured credit unions of similar asset size.
  • Percentile rankings: How the credit unions financial performance compares to federally insured credit unions in its peer group.
  • Net worth: A capital level above 7 percent net worth is considered well-capitalized.
  • Return on average assets: Measures net income (or loss) in relation to average assets and represents the bottom line.
  • Delinquency: How many loans are late compared to total loans.
  • Net charge-offs: An important indicator of the effectiveness of lending and collection practices.

5. How do I get started?

If you are eligible to join, you can easily become a credit union member by completing a membership application, depositing and maintaining the minimum par value of a share (generally ranging from $5 to $25), and paying a one-time membership fee if there is one.

Also, if youre moving your business from a bank, ask if the credit union can make transferring easy with a switch kit. The time-saving packet of forms and information guides you through the process of switching and may include direct deposit forms, worksheets and checklists.

As Stacy Johnson notes, credit unions are a great solution for many people, but you still need to shop around and ask questions before you decide where you want to have your money relationship.

Whats your experience with credit unions? Share with us in comments below or on our Facebook page.

06 JulSuntrust Robinson Humphrey Rating Update on Bankrate, Inc. (NYSE:RATE)

Suntrust Robinson Humphrey downgrades their rating on the shares of Bankrate, Inc. (NYSE:RATE). The current rating of the shares is Hold. Earlier, the shares were rated a Buy by the brokerage firm. Equity Analysts at the Firm lowers the price target to $12 per share from $18 per share.

Company shares have received an average consensus rating of Hold for the current week Bankrate, Inc. (NYSE:RATE) has lost 3.13% during the past week and dropped 11.15% in the last 4 weeks. The shares are however, negative as compared to the SP 500 for the past week with a loss of 2.74%. Bankrate, Inc. (NYSE:RATE) has underperformed the index by 10.9% in the last 4 weeks. Investors should watch out for further signals and trade with caution.

Bankrate, Inc. (Bankrate) is a publisher, aggregator and distributor of personal finance content on the Internet. The Company provides consumers with personal finances editorial content across multiple vertical categories, including mortgages, deposits, insurance, credit cards, and other categories, such as retirement, automobile loans, and taxes. The Company provides financial applications and information to a network of distribution partners and through national and state publications. The Company develops and provides Web services to over 75 co-branded partners, including personal finance sites on the Internet such as Yahoo!, CNN Money, CNBC and Comcast. The Company licenses editorial content to over 100 newspapers on a daily basis, including including The Wall Street Journal, USA Today and The Boston Globe. The Company offers services, including Mortgages and Home Lending, Deposits, Insurance, Credit Cards and Other financial products. In May 2014, the Company acquired Caring, Inc.

06 JulNew regs for Tuesday: Auto, buses, efficiency

Tuesdays edition of the Federal Register contains new rules for automobile lenders, passenger-carrying buses and efficiency standards for air conditioners and heat pumps.

Heres what is happening:

Buses: The Federal Motor Carrier Safety Administration (FMCSA) is delaying new rules for passenger-carrying commercial motor vehicles like buses.

The FMCSA issued new regulations for the lease of interchange of these commercial passenger-carrying vehicles in May but is now extending the deadline for people to submit petitions protesting the rule. 

The public has until Aug. 25 to comment.

Cars: The Consumer Financial Protection Bureau (CFPB) is moving forward with new rules for larger automobile lenders under the Dodd-Frank financial reform laws.

The new rules define any automobile company that makes 10,000 loans a year as a larger market participant. They will be subject to new rules for automobile loans, refinancings and leases.

The rules go into effect in 60 days.

Efficiency: The Department of Energy is moving forward with new energy conservation standards for air conditioners and heat pumps.

The Energy Departments Office of Energy Efficiency and Renewable Energy is issuing new test procedures that will cover packaged terminal air conditioners as well as packaged terminal heat pumps.

The rules go into effect on July 30.

05 JulPersistence pays off for Giants G.M. Evans

Seated on a crowded cafe patio, with his pinging phone providing a steady backbeat, the 46-year-old Evans reflected on a career and lifelong love of baseball that began as a Peanut League catcher in Framingham, Massachusetts, where the Red Sox were his favorite team and Carlton Fisk was his favorite player.

Then his fathers job with the US Public Health Service was transferred to a town of 700 in North Carolina, and by the time Evans was a high school senior, it was apparent he wouldnt be big or strong enough to catch on the collegiate level. After receiving an academic scholarship to the University of North Carolina, he tried to walk on as a 160-pound outfielder.

UNCs coach at the time, Mike Roberts, had to be honest. Youre just too average in every tool, he told him.

Evans found a way to play all four years in college anyway, first for a semipro summer league team in Daytona Beach, Florida, and then for UNCs club team.

There was only one club player I knew of, a pitcher, who got called up to varsity, Evans said.

It was all the hope he needed.

But the varsity never called, and Evans knew it was time to focus on his business degree. A scholarship program at UNC paid for his summer expenses to intern with a business enterprise after his sophomore year, and Evans scanned the list of Fortune 500 companies — banks, pharmaceutical giants, insurance agencies. He didnt pick any of them. Instead, he went to the executive director with a question.

Can I set up my own internship? he said. Because Id like to work for the Boston Red Sox.

The director had an upcoming business trip to Boston, and promised Evans he would contact the club while he was in town to explain the scholarship program. A few months later, Evans found himself living a dream. The Red Sox let him operate the scoreboard in the Green Monster. He joined the grounds crew. He was in the draft room when the Red Sox selected Jeff Bagwell and Mo Vaughn.

Quite frankly, I didnt know how anything worked outside the lines, Evans said. I was learning things about the baseball side that I had no idea about. I really couldnt get baseball off my mind.

As graduation approached, Evans had an offer to work in the media relations office for the NBAs Charlotte Hornets. He held out for something better. He called every major league team, and some minor league clubs. When he reached out to the American League office, he learned about an executive development program through Major League Baseball.

Two interviews later, Evans, at 22, found himself living in Manhattan and walking to MLBs Park Avenue headquarters to work each day. He spent almost three years working in the league office, doing everything from reviewing minor league facilities to writing a handbook to educate players about HIV/AIDS to attending ownership meetings — including one memorable occasion when Angels owner Gene Autry got up and began singing a couple of his standards.

In September 1992, he went to help with the fledgling Arizona Fall League and became friendly with the manager of the Scottsdale club. Evans recalls the day that Giants GM Bob Quinn flew into town, and he opened the door to the clubhouse for him. Quinn was there to interview Dusty Baker, who would become the Giants manager.

I guess it was ironic or serendipitous, Evans said. I followed the Giants the whole way in 1993. Id stay up late in Manhattan watching their games. I kind of felt I was a little part of it, because Id gotten to know Dusty so well.

Working in the commissioners office, Evans had a view into how teams worked. He could tell the Giants were well run. A new ownership group had taken over, they had just won 103 games and there was the promise of a new ballpark. Evans had conversations with the Mets, Royals and Astros, but he hoped for an opportunity with the Giants. Suddenly, they were hiring. And their assistant GM, Brian Sabean, was conducting interviews at the winter meetings.

He was very eager, obviously an intelligent kid, he had the intern experience in Boston and the commissioners office, and quite frankly, he was single and wide-eyed and willing to put the hours in, Sabean said. Thats half the battle. You have to be willing to punch the clock, and put up with the demands.

Sabean called and offered Evans a position as a minor league administrative assistant.

I was going to take it, but I wanted to call my folks, talk it over, Evans said. Before I could hang up, he said, Well, are you going to take it? He wanted an answer. So I said yes. Two weeks later, I sublet my apartment in New York and flew out to San Francisco and stayed at the Hyatt the day after my 25th birthday, and drove to Candlestick for the first time.

More than two decades later, after constant tutoring from people such as Sabean and Jack Hiatt and Dick Tidrow and Tony Siegle and Ned Colletti, Evans is the chief custodian of a three-time World Series champion. He tried not to act surprised when told at the end of spring training that he would be elevated to the post, and that Sabean would move to an executive vice president role, freeing him from the daily demands to focus on big-picture scouting and player development initiatives.

The titles have always been an afterthought, Evans said with a laugh. When Brian named me assistant GM a few years ago, Id been assistant GM for seven years.

Still, this title meant more. Evans wishes he could share it with his late parents. He is grateful he can share his success with his three siblings, including his oldest sister, Lu, who is fighting bone and breast cancer.

And then there is his wife, Gwen.

They met at a Baptist church in San Francisco on his 27th birthday. They chatted briefly after a service, and that night, Evans returned to find 40 friends packed into his apartment for a surprise party.

Someone had invited her, Evans said. When I opened the door, she was the first person I saw. We ended up talking quite a bit that day. I knew the kind of person I wanted to marry, and I just sensed there was something special about her.

Evans was a church leader and didnt want to make any inappropriate advances. After a year of casual hellos, though, Gwen began to suspect he might have interest.

So when I asked her out, she was already ready, Evans said. She said no.

But she was happy to remain friends and participate in group activities with him. Evans would brainstorm all manner of outings and events. He found out she liked basketball and was a Michael Jordan fan, but his Giants connections were no good when he asked for 10 tickets to a Warriors-Bulls game.

So I bought 10 miniseason passes so I could take her to that one game, he said, and I spent the entire winter selling Warriors tickets to all my friends.

It took two years, but Gwen finally said yes to a first date. And 10 months later, she said yes to a marriage proposal. Evans even won over her father, who moved the family to the US from Rajahmundry, India, when Gwen was a young girl.

I felt comfortable he would appreciate a little humor, Evans said. So I told him, I know you always wanted to arrange Gwens marriage. So I just want you to know Id be happy if youd arrange our marriage.

And so he laughed and he said, You know, I learned its more important that God arrange it. So you have my blessing.

As any baseball GM knows, there is an art to closing the deal.

For more on the Giants, see the Giants Extra blog at blogs.mercurynews.com/Giants. Follow Andrew Baggarly on Twitter at twitter.com/extrabaggs.

05 JulBankrate Announces Results Of Its Internal Review And Full Year 2014 Financial …

Results for Year Ended December 31, 2014

Total revenue for the twelve months ended December 31, 2014 was $544.9 million, compared to $456.9 million for the restated full year 2013.

GAAP net income was $5.2 million, or $0.05 per fully diluted share in 2014, compared to restated GAAP net loss of $11.2 million, or $0.11 per fully diluted share, in 2013.

On a non-GAAP adjusted basis, adjusted net income, as outlined in the attached reconciliation, was $69.8 million and adjusted EPS was $0.68 for the full twelve months of 2014, compared to $51.9 million and adjusted EPS of $0.52 in 2013, representing adjusted EPS growth of 31%.

Adjusted EBITDA for 2014, as outlined in the attached reconciliation, was $143.0 million, compared to $122.2 million in the restated period 2013, an increase of 17%.

Supplementary information can be found in the FY-14 amp; Q1-15 Earnings Call Presentation located in the Investor Overview section on http://investor.bankrate.com/.

The Company is pleased to have concluded this thorough review of its financial statements for 2011 through 2013 and to now be able to confirm 2014s record financial and operational performance, said Kenneth S. Esterow, Bankrates president and CEO. With this review process concluded, Bankrate can now turn its attention more fully towards execution and long-term growth, Mr. Esterow added.

Other Matters
As previously announced, the Securities and Exchange Commission (SEC) is conducting a non-public formal investigation of Bankrates financial reporting with the principal focus on the quarters ending March 31, 2012 and June 30, 2012. The investigation is examining whether accounting entries may have improperly impacted the Companys reported results, including relative to market expectations at such time. The Company has agreed to the terms of a potential settlement of the SEC investigation that the SEC enforcement staff has indicated it is prepared to recommend to the Commission. The proposed settlement is subject to acceptance and authorization by the Commission and would, among other things, require the Company to pay a $15.0 million penalty. As a result, the Company recorded an accrual in the amount of $15.0 million as of September 30, 2014. However, the terms of the settlement have not been approved by the Commission and therefore there can be no assurance that the Companys efforts to resolve the SECs investigation will be successful, that the settlement amount will be as anticipated or that the reserve with respect thereto will be sufficient, and the Company cannot predict the ultimate timing or the final terms of any settlement. The previously announced investigation by the Department of Justice is ongoing.

June 17, 2015 Conference Call Interactive Dial-In and Webcast Information:
To participate in the teleconference please call: (877) 809-9810, passcode 67434357. International participants should dial: (330) 330-863-3286, passcode 67434357. Please access at least 10 minutes prior to the time the conference is set to begin. A webcast of this call can be accessed at Bankrates website: http://investor.bankrate.com/.

Replay Information:
A replay of the conference call will be available beginning June 17, 2015 at 7:30 pm ET / 4:30 pm PT through June 24, 2015 at 11:59 pm ET / 8:59 pm PT. To listen to the replay, call (855) 859-2056 and enter the passcode: 67434357. International callers should dial (404) 537-3406 and enter the passcode: 67434357.

Non-GAAP Measures:
To supplement Bankrates financial statements presented in accordance with generally accepted accounting principles (GAAP), Bankrate uses non-GAAP measures of certain components of financial performance, including EBITDA, Adjusted EBITDA, Adjusted Net Income and Adjusted EPS, which are adjusted from results based on GAAP to exclude certain expenses, gains and losses. These non-GAAP measures are provided to enhance investors overall understanding of Bankrates current financial performance. Specifically, Bankrate believes the non-GAAP results provide useful information to both management and investors by excluding certain expenses, gains and losses that may not be indicative of its core operating results. In addition, because Bankrate has historically reported certain non-GAAP results to investors, Bankrate believes the inclusion of non-GAAP measures provides consistency in its financial reporting. These measures should be considered in addition to results prepared in accordance with GAAP, but should not be considered a substitute for, or superior to, GAAP results. The non-GAAP measures included in this press release have been reconciled to the nearest GAAP measure in the financial tables below.

About Bankrate, Inc.
Bankrate is a leading online publisher, aggregator, and distributor of personal finance content. Bankrate aggregates large scale audiences of in-market consumers by providing them with proprietary, fully researched, comprehensive, independent and objective personal finance and related editorial content across multiple vertical categories including mortgages, deposits, insurance, credit cards, senior care and other categories, such as retirement, automobile loans, and taxes. Our flagship sites Bankrate.com, CreditCards.com, insuranceQuotes.com and Caring.com are leading destinations in each of their respective verticals and connect our audience with financial service and senior care providers and other contextually relevant advertisers. Bankrate also develops and provides content, tools, web services and co-branded websites to over 100 online partners, including some of the most trusted and frequently visited personal finance sites such as Yahoo!, AOL, CNBC, AARP and Bloomberg. In addition, Bankrate licenses editorial content to leading news organizations such as The Wall Street Journal, USA Today, and The New York Times.

Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995:
Certain matters included in this press release may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of the Company and members of our management team. Such forward-looking statements include, without limitation, statements made with respect to future revenue, revenue growth, market acceptance of our products, our strategy and profitability. Investors and prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. We derive many of our forward-looking statements from our operating budgets and forecasts, which are based upon many detailed assumptions. While we believe that our assumptions are reasonable, we caution that it is very difficult to predict the impact of known or unknown factors, and it is impossible for us to anticipate all factors that could affect our actual results. Important factors currently known to management that could cause actual results to differ materially from those in forward-looking statements include the following: the timing and outcome of, including potential expense associated with, the investigations by the SEC and the Department of Justice (DOJ) including our ability to enter into a settlement with the SEC on terms consistent with those described in this release; the potential impact on our business and stock price of any announcements regarding the Restatement, the SECs investigation or the DOJs investigation; the material weakness in our internal controls over financial reporting and our ability to rectify this issue completely and promptly; risks relating to the defense or litigation of lawsuits, including the putative securities class action lawsuit currently pending and described in our Annual Report on Form 10-K for the year ended December 31, 2014, and regulatory proceedings; the timing and outcome of (including potential expense associated with), and the potential impact on our business and stock price of any announcements regarding, the Consumer Financial Protection Bureau (CFPB) investigation described in our Annual Report on Form 10-K for the year ended December 31, 2014; the willingness or interest of banks, lenders, brokers, credit card issuers, insurance carriers and agents, senior care providers and other advertisers in the business verticals in which we operate to advertise on our websites or mobile applications, or purchase our leads, clicks, calls and referrals; the rate of conversion of consumers visits to our websites or mobile applications into senior care referrals and the rate at which those referrals result in move-ins with our senior care customers; changes in application approval rates by our credit card issuer customers; increased competition and its effect on our website traffic, advertising rates, margins, and market share; our dependence on internet search engines to attract a significant portion of the visitors to our websites; our dependence on partners to attract a significant portion of the companys revenue; shift of visitors from desktop to mobile and mobile app environments; the number of consumers seeking information about the financial and senior care products we have on our websites or mobile applications; interest rate volatility; technological changes; our ability to anticipate and manage cybersecurity risk and data security risk; the effects of any security breach or any cyberattack on our systems, websites or mobile applications; our ability to manage traffic on our websites or mobile applications, and service interruptions; our ability to maintain and develop our brands and content; the fluctuations of our results of operations from period to period; our indebtedness and the effect such indebtedness may have on our business; our need and our ability to incur additional debt or equity financing; our ability to integrate the operations and realize the expected benefits of businesses that we have acquired and may acquire in the future; the effect of unexpected liabilities we assume from our acquisitions; the effect of programmatic advertising platforms on display revenue; our ability to successfully execute on our strategies, including without limitation our insurance quality initiative, our mobile strategy and other initiatives, and the effectiveness of our strategies, including without limitation whether they result in increased revenue or profitability; our ability to attract and retain executive officers and personnel; any failure or refusal by our insurance providers to provide coverage under our insurance policies; our ability to protect our intellectual property; the effects of potential liability for content on our websites or mobile applications; our ability to establish and maintain distribution arrangements; our ability to maintain good working relationships with our customers and third-party providers and to continue to attract new customers; the effect of our expansion of operations in the United Kingdom and possible expansion to other international markets, in which we may have limited experience, and our ability to successfully execute on our business strategies in international markets; our ability to sell our operations in China in excess of its book value; the willingness of consumers to accept the Internet and our online network as a medium for obtaining financial product information; the strength of the US economy in general and the financial services industry in particular; changes in monetary and fiscal policies of the US government; changes in consumer spending and saving habits; review of our business and operations by regulatory authorities; changes in the legal and regulatory environment; changes in accounting principles, policies, practices or guidelines; risks relating to the ongoing reviews of our business and operations by regulatory authorities; and our ability to manage the risks involved in the foregoing. For more information about factors that could cause actual results to differ materially from our expectations, refer to our reports filed with the Securities and Exchange Commission, including the discussion without limitation under Risk Factors in our Annual Report on Form 10-K for the year ended December 31, 2014 along with any modifications or updates to those Risk Factors in our Quarterly Reports on Form 10-Q. These documents are available on the SECs website at www.sec.gov. Any factor described above or in our SEC reports could, by itself or together with one or more other factors, adversely affect our financial results and condition. We caution you that the foregoing list of important factors may not contain all of the material factors that are important to you. We undertake no obligation to update or revise forward-looking statements as a result of new information, future events or otherwise, except as otherwise required by law.

-Financial Statements Follow-

Bankrate, Inc. and Subsidiaries
Consolidated Balance Sheets
(Unaudited)
(In thousands, except share and per share data)

05 JulJefferies Group Boosts Huntington Bancshares Price Target to $12.50 (HBAN)

Huntington Bancshares (NASDAQ:HBAN) had its target price lifted by Jefferies Group from $11.50 to $12.50 in a research note released on Thursday morning, Analyst Ratings.Net reports.

Jefferies Group has also updated their ratings on a number of other financials stocks in the last week. The firm raised its price target on shares of Western Alliance Bancorporation from $37.00 to $40.00. Also, Jefferies Group raised its price target on shares of Wells Fargo Co. from $60.00 to $62.00. Finally, Jefferies Group raised its price target on shares of Webster Financial Co. from $37.00 to $40.00.

In other Huntington Bancshares news, CEO Stephen D. Steinour bought 10,000 shares of the stock in a transaction that occurred on Friday, April 24th. The shares were purchased at an average cost of $10.79 per share, with a total value of $107,900.00. The purchase was disclosed in a legal filing with the SEC, which is available at this link.

A number of other firms have also recently commented on HBAN. Analysts at Zacks upgraded shares of Huntington Bancshares from a hold rating to a buy rating and set a $13.00 price target on the stock in a research note on Wednesday. Analysts at Vetr upgraded shares of Huntington Bancshares from a hold rating to a buy rating and set a $11.14 price target on the stock in a research note on Monday, June 29th. Analysts at SunTrust reiterated a hold rating and set a $12.00 price target (up previously from $11.00) on shares of Huntington Bancshares in a research note on Monday, June 29th. Analysts at Credit Suisse raised their price target on shares of Huntington Bancshares from $11.50 to $13.00 in a research note on Friday, June 26th. Finally, analysts at Stephens initiated coverage on shares of Huntington Bancshares in a research note on Thursday, June 18th. They set an equal weight rating on the stock. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and ten have given a buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $11.71.

Shares of Huntington Bancshares (NASDAQ:HBAN) opened at 11.35 on Thursday. Huntington Bancshares has a one year low of $8.80 and a one year high of $11.72. The stock has a 50-day moving average of $11.34 and a 200-day moving average of $10.85. The company has a market cap of $9.18 billion and a P/E ratio of 15.34.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings data on Wednesday, April 22nd. The company reported $0.19 earnings per share for the quarter, meeting the analysts consensus estimate of $0.19. The company had revenue of $706.90 million for the quarter, compared to the consensus estimate of $712.00 million. During the same quarter last year, the company posted $0.17 earnings per share. On average, analysts predict that Huntington Bancshares will post $0.82 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Wednesday, June 17th were paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 2.11%. The ex-dividend date was Monday, June 15th.

Huntington Bancshares Incorporated (NASDAQ:HBAN) is a diversified regional bank holding company. The Company operates through its subsidiary, The Huntington National Bank (the Bank). It provides commercial, small business, consumer and mortgage banking services, automobile financing, equipment leasing, investment management, trust services, brokerage services, insurance programs, and other financial products and services. It operates in five segments: Retail and Business Banking, Commercial Banking, Automobile Finance and Commercial Real Estate, Regional Banking and The Huntington Private Client Group, and Home Lending. Its loan portfolio includes commercial and industrial, commercial real estate, construction CRE, automobile, home equity, residential mortgage and consumer loans/leases. The Bank has approximately 14 private client group offices and 715 branches, including 404 in Ohio, 43 in Indiana, 179 in Michigan, 31 in West Virginia, 48 in Pennsylvania and 10 in Kentucky.

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05 JulFitch: Mexican Banks Losing Auto Loan Market Share to Captives

NEW YORK–(BUSINESS WIRE)–The competition for Mexicos auto lending market is increasingly being
won by the captive financing arms of auto manufacturers, while Mexican
banks market share in auto lending is eroding amid the countrys solid
growth in light vehicle sales, says Fitch Ratings. As a greater share of
the market is potentially lost, we believe that Mexican banks with
revived credit demand could seek new strategic partnerships with
automotive firms in order to remain competitive in the space.

However, the willingness of manufacturers to also seek partnerships with
banks will depend on auto makers appetite for diversifying sale
channels.

Financial captives have historically provided loans to about half of
Mexicos total auto loan market; however, over the last five years that
share has grown to 65% of all cars sold with a loan in the country.
Banks, as well as those non-bank financial companies focusing on
consumers with less access to banking services, have been losing share
to the captives.

The attraction of Mexicos auto loan market is driven by not only its
recent growth, but also by the recent performance of the asset class.
Mexican captives auto loan portfolios, even with their higher growth,
have averaged NPLs in a range of 1%-2% over the past several years,
versus the banks, which have achieved NPLs in the range of 4%-5%.
Delinquency and net charge off rates of auto loans stand well below
those of the overall consumer loan averages, including credit cards and
personal consumer loans. But in spite of the quality of these automobile
loans, they represent just 2.3% of the total loans held by the banks in
the Mexican banking system, a relatively small amount.

Mexican banks have achieved below 5% auto loan growth over the last two
years, against a backdrop of an 8% compound annual growth rate in light
vehicle sales between April 30, 2010 and April 30, 2015. About 1.1
million light vehicles were sold in 2014, 50.4% higher than 2009,
according to the Mexican Association of Automotive Distributors.

About 63% of new vehicle sales are financed through loans in Mexico,
which is a peak level in the post-crisis period. Generally, as new
vehicle price inflation continues, and new car affordability become more
difficult, particularly in a sluggish economy, we see the need for
financing purchases through loans as likely to remain supported.

The success of the automotive captives stems from the subsidies they
receive from their parent auto manufacturers. Wholesale funding costs
have also been kept in check, and automotive manufacturers are committed
to maintaining market share in a growth environment. Typically, the
market shares of financial captives rated by Fitch vary between 30% and
50% of total sales of the brand.

Banks, which generally have lower cost-funding advantages than captives,
must still be able to beat the captives operational advantages that
come with being a subsidiary of a manufacturer. In matters of
discounting, visibility within the selling process, and movement of
vehicles in case of replacement, captives generally have an advantage.
Given this, the barriers to entry in the sector are high for banks, and
thus it is incumbent upon them to seek alliances with auto makers.

The above article originally appeared as a post on the Fitch Wire credit
market commentary page. The original article can be accessed at www.fitchratings.com.
All opinions expressed are those of Fitch Ratings.

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