Menu
  • Home
  • /
  • Finance
  • /
  • No change for lawsuit lending in Texas

Finance

Price target on Cullen/Frost’s stock upgraded

Barclays Capital raised the price target on Cullen/Frost Bankers' stock. James Aldridge[1] Web Editor- San Antonio Business Journal Email[2] | Twitter[3] | Google+[4] | LinkedIn[5] Analysts at Barclays Capital[6] raised their price target on shares of Cullen/Frost Bankers’ stock to $63 from $58, the Mideast Times reported[7]. The investment firm currently has an “underweight” rating on the stock. Cullen/Frost (NYSE: CFR) opened Tuesday at $71.90. The stock was trading in the mid-$71 range as of midday. San Antonio-based Cullen/Frost owns Frost Bank[8], which operates branches throughout major markets in Texas. James Aldridge oversees online content of the newspaper; edits and reports stories for the online edition. References^ James Aldridge (feeds.bizjournals.com)^ Email (feeds.bizjournals.com)^ Twitter (twitter.com)^ Google+ (plus.google.com)^ LinkedIn (feeds.bizjournals.com)^ Barclays Capital (www.bizjournals.com)^ Mideast Times reported (www.mideasttime.com)^ Frost Bank (www.bizjournals.com)...
Read more...

Quantum PE firm forms new A&D company in the Woodlands

Houston private equity firm Quantum Energy Partners said Tuesday it formed a new oil and gas acquisition and development company, its second in the past three months. Collin Eaton[1] Reporter- Houston Business Journal Email[2] | Twitter[3] | Google+[4] Houston private equity firm Quantum Energy Partners[5] said Tuesday it formed a new oil and gas acquisition and development company, its second in the past three months. The Woodlands-based energy firm, Rio Oil and Gas LLC, will aim to buy and develop conventional oil and gas assets in North American basins, armed with $300 million in capital from the private equity firm and management team members of Rio. Quantum Energy tapped Alan Clemens[6] and Stacey Cude[7] to serve as CEO and as president and COO, respectively. Both Clemens and Cude had previously served in the private equity firm’s technical team: Clemens had worked as chief of geology and geophysics for the firm, while Cude worked as chief of engineering. In April, the private equity firm formed another oil and gas acquisition and development company[8], Denver-based Jagged Peak Energy LLC, getting started with $400 million in capital. The two deals follow a trend in private equity: More firms are backing energy companies[9] to buy and flip conventional oil and gas assets, or vertical drilling assets. Got Energy? Sign up for our Energy Inc. newsletter here[10]. Stay up to date on Texas energy news with the Energy Inc. news ticker[11], bringing you by-the-minute coverage from the Texas Business Journals. Collin Eaton covers banking, finance and securities for the Houston Business Journal. References^ Collin Eaton (feeds.bizjournals.com)^ Email (feeds.bizjournals.com)^ Twitter (twitter.com)^ Google+ (plus.google.com)^ Quantum Energy Partners (www.bizjournals.com)^ Alan Clemens (feeds.bizjournals.com)^ Stacey Cude (feeds.bizjournals.com)^ formed another oil and gas acquisition and development company (www.bizjournals.com)^ More firms are backing energy companies (www.bizjournals.com)^ Got Energy? Sign up for our…
Read more...

First Data names Guy Chiarello president

First Data Corp. hired JP Morgan Chase & Co. Chief Information Officer Guy Chiarello as president. Jacques Couret[1] Senior Online Editor- Atlanta Business Chronicle Email[2] First Data Corp.[3] hired JP Morgan Chase & Co. Chief Information Officer Guy Chiarello[4] as president. He joins former JP Morgan (NYSE: JPM) colleague Frank Bisignano[5], who in April became CEO of Sandy Springs, Ga.-based First Data[6]. Before his five and half years at JP Morgan, Chiarello served in various technology roles for Morgan Stanley for 23 years. According to a Securities and Exchange Commission filing, Chiarello’s compensation package includes an annual base salary of $1 million, a $2.5 million annual incentive payment for 2013 and a $6.5 million signing bonus. References^ Jacques Couret (feeds.bizjournals.com)^ Email (feeds.bizjournals.com)^ First Data Corp. (www.bizjournals.com)^ Guy Chiarello (feeds.bizjournals.com)^ Frank Bisignano (feeds.bizjournals.com)^ became CEO of Sandy Springs, Ga.-based First Data (www.bizjournals.com)...
Read more...

Redwood City startup Daric filed plan to push peer-to-peer loans

Cromwell Schubarth[1] Senior Technology Reporter- Silicon Valley Business Journal Email[2] | Twitter[3] | Google+[4] A new peer-to-peer lender that includes former Wells Fargo CEO Richard Kovacevich[5] as an investor filed plans with the Securities and Exchange Commission this week. Daric Corp. said it intends to create notes worth up to $10 million to help facilitate loans between investors and borrowers that will carry an interest rate of between 6 percent and 25 percent. The three-person Redwood City company led by CEO Greg Ryan[6] said it will take some of the interest that accrues on the notes, which mature in three years. Daric said it was incorporated in Delaware in April 2011. It plans to launch operations in California, New York, Texas, Illinois, and Florida. In addition to Kovacevich, other investors listed on Daric's prospectus include Franklin Resources Chief Operating Officer Jennifer Johnson[7], Lazard Asset Management portfolio manager Jay Leupp[8] and Goldcrest Investments CEO Adam Ross[9]. Click here to read the prospectus that Daric filed with the SEC[10]. Cromwell Schubarth is the Senior Technology Reporter at the Business Journal. His phone number is 408.299.1823. References^ Cromwell Schubarth (feeds.bizjournals.com)^ Email (feeds.bizjournals.com)^ Twitter (twitter.com)^ Google+ (plus.google.com)^ Richard Kovacevich (feeds.bizjournals.com)^ Greg Ryan (feeds.bizjournals.com)^ Jennifer Johnson (feeds.bizjournals.com)^ Jay Leupp (feeds.bizjournals.com)^ Adam Ross (feeds.bizjournals.com)^ read the prospectus that Daric filed with the SEC (www.sec.gov)...
Read more...

Beer exports flat in Missouri

Shipments of beer made in Missouri remained relatively stagnant from 2011 to 2012, as overall U.S. beer exports expanded by more than 3 million barrels during the same period. But the data, compiled by the Beer Institute, the national trade association for the industry, also show that Missouri’s longterm exports have remained steady even throughout the great recession, when U.S. exports of beer dipped by about 5 million barrels from 2008 to 2009. One barrel is the equivalent of 31 gallons. During that time, “we saw consumption mirror what we saw in the economy,” Megan Kirkpatrick, spokeswoman for the trade group, said. Meanwhile, Missouri’s largest brewer, Anheuser-Busch, recently closed its $20.1 billion merger with Grupo Modelo and posted a 2013 first quarter profit of $2.53 billion. Although growing in size, the beer giant has seen its sales volume drop 4.1 percent in the most recent quarter, mostly due to lower sales of its flagship Budweiser and Bud Light brands. Anheuser-Busch and other Missouri brewers such as Schlafly Beer have faced increased competition for more than a decade. From 2004 to 2011, the number of active brewers in the state more than doubled to 51, according to the trade group. Urban Chestnut, a brewery founded two years ago with a flagship location on Washington Avenue, announced in April it would expand with a $10 million, 70,000-square-foot brewhouse in the Grove.[1] Beer consumption remained flat in Missouri from 2011 to 2012, industry data shows. Since 1994, beer consumption in Missouri has fallen by more than 1.5 gallons per capita. North Dakota ranked first in consumption with nearly 46 gallons per capita in 2012. References^ $10 million, 70,000-square-foot brewhouse in the Grove. (www.bizjournals.com)...
Read more...

Contigo Financial merges with San Francisco firm

Jamie McGee[1] Staff Writer- Nashville Business Journal Email[2] | Twitter[3] | Google+[4] Nashville-based Contigo Financial has merged with Emerge Financial Wellness, a San Francisco-based financial wellness provider, to offer consumer lending products, according to a news release. Contigo, launched last year by [5]Mario Avila[6] out of Jumpstart Foundry, will become a wholly-owned subsidiary of Emerge and the combined company will operate under the Emerge Financial Wellness brand with a Nashville headquarters. Avila will become CEO of the company, and Emerge founder Jonathan Harrison[7] will serve as chief program officer, according to the release. “I am excited to build the leading financial wellness program to address the specific needs of workers at all levels — from expert education and guidance to socially responsible financial products,” Avila said in the release. “Employees overwhelmingly want financial wellness programs in the workplace, and employers are recognizing that financial well-being is a cornerstone to a healthy and productive workforce.” Contigo offers loans and other financial products to employees by partnering with employers. Emerge was created in 2010 to help employees manage finances through financial wellness assessments, financial education resources and one-on-one counseling. Jamie McGee covers tourism, entertainment and technology. References^ Jamie McGee (feeds.bizjournals.com)^ Email (feeds.bizjournals.com)^ Twitter (twitter.com)^ Google+ (plus.google.com)^ launched last year by (www.bizjournals.com)^ Mario Avila (feeds.bizjournals.com)^ Jonathan Harrison (feeds.bizjournals.com)...
Read more...
Subscribe to this RSS feed