Core Viewpoint - Bladex has announced an increase in its quarterly cash dividend to $0.6875 per share, reflecting a strong financial performance in 2025 and a commitment to shareholder returns [1][1]. Financial Performance - The new quarterly dividend represents 46% of Bladex's net income for the fourth quarter of 2025 [1]. - Bladex reported net profits of $56.0 million or $1.50 per share in the fourth quarter of 2025, and $226.9 million or $6.11 per share for the entire year [1][1]. Company Background - Bladex is a multinational bank established by the central banks of Latin American and Caribbean countries, with operations starting in 1979 [1]. - The bank is headquartered in Panama and has offices in several countries, including Argentina, Brazil, Colombia, Mexico, and the United States [1]. - Bladex has been listed on the NYSE since 1992, with shareholders including central banks, state-owned banks, commercial banks, and institutional and retail investors [1].

Core Viewpoint - Flagstar Bank, N.A. has declared quarterly cash dividends on its common and preferred stocks, reflecting its ongoing commitment to returning value to shareholders [1] Dividend Announcements - A quarterly cash dividend of $0.01 per share on common stock, payable on March 17, 2026, to shareholders of record as of March 7, 2026 [1] - A quarterly cash dividend of $3.3333 per share on Series D Non-Voting Common Equivalent Stock, payable on March 17, 2026, to holders of record as of March 7, 2026 [1] - A quarterly cash dividend of $3.3333 per share on Series B Noncumulative Convertible Preferred Stock, payable on March 17, 2026, to holders of record as of March 7, 2026 [1] - A quarterly cash dividend of $15.94 per preferred share on Fixed-to-Floating Rate Noncumulative Perpetual Preferred Stock, Series A, equating to $0.3984 for each depositary share, payable on March 17, 2026, to holders of record as of March 7, 2026 [1] Company Overview - Flagstar Bank, N.A. is one of the largest regional banks in the United States, headquartered in Hicksville, New York [1] - As of December 31, 2025, the bank reported total assets of $87.5 billion, loans of $61.0 billion, deposits of $66.0 billion, and total stockholders' equity of $8.1 billion [1] - The bank operates approximately 340 locations across ten states, with significant presence in the greater New York/New Jersey metropolitan area, the upper Midwest, Florida, and the West Coast [1]

Company Performance - Pathward Financial (CASH) shares have increased by 25.4% over the past month, reaching a new 52-week high of $95.1 [1] - Year-to-date, Pathward has gained 30.1%, significantly outperforming the Zacks Finance sector's 2.3% and the Zacks Banks - Northeast industry's 13.1% [1] Earnings and Revenue - Pathward has consistently exceeded earnings expectations, reporting EPS of $1.57 against a consensus estimate of $1.38 in its last earnings report [2] - For the current fiscal year, Pathward is projected to achieve earnings of $8.7 per share on revenues of $825.7 million, reflecting a 10.55% increase in EPS and a 0.84% change in revenues [3] - The next fiscal year forecasts earnings of $9.6 per share, indicating a year-over-year EPS growth of 10.34% while revenues are expected to remain stable at $825.7 million [3] Valuation Metrics - Pathward's current trading valuation is at 10.6X the current fiscal year EPS estimates, which is above the peer industry average of 10.1X [7] - On a trailing cash flow basis, Pathward trades at 8.6X compared to the peer group's average of 12.6X, positioning it favorably for value investors [7] Zacks Rank and Style Scores - Pathward holds a Zacks Rank of 2 (Buy) due to rising earnings estimates, indicating potential for further price appreciation [8] - The stock has a Value Score of A, a Growth Score of D, and a Momentum Score of B, resulting in a combined VGM Score of B [6][8] Industry Comparison - The Banks - Northeast industry is performing well, ranking in the top 19% of all industries, providing favorable conditions for both Pathward and its peers [11] - Univest Corporation of Pennsylvania (UVSP), a peer, also has a Zacks Rank of 2 (Buy) and shows strong earnings performance, further indicating a competitive industry landscape [9][10]

Core Viewpoint - Paramount has enhanced its all-cash offer of $30 per share for Warner Bros. Discovery (WBD), emphasizing superior value and regulatory certainty compared to Netflix's offer, which has a variable cash component based on Discovery Global's financial condition [1][2][4]. Offer Details - Paramount's revised offer includes a $0.25 per share "ticking fee" for each quarter the transaction is not closed beyond December 31, 2026, amounting to approximately $650 million per quarter [1][2][3]. - The total equity value of Paramount's offer is $78 billion, with an enterprise value of $108 billion, including the assumption of net debt [3][4]. - Paramount has secured necessary regulatory clearances, including from foreign investment authorities in Germany and has complied with the U.S. Department of Justice's requests [2][4]. Financial Commitments - Paramount's offer is fully financed with $43.6 billion in equity commitments and $54.0 billion in debt commitments from major financial institutions [3][4]. - Larry Ellison has provided an irrevocable personal guarantee of $43.3 billion for the equity financing of the offer [1][3]. Comparison with Netflix Offer - Paramount's offer is positioned as more transparent and certain, with a fixed cash value of $30 per share, compared to Netflix's range of $21.23 to $27.75 per share, which is contingent on Discovery Global's financial performance [1][2][4]. - The Netflix deal requires WBD to take on $17 billion in debt to achieve the higher end of its cash consideration, raising concerns about the sustainability of Discovery Global's business [1][4]. Regulatory Progress - Paramount has engaged constructively with antitrust regulators globally and believes its transaction does not raise competition concerns, unlike the Netflix deal, which may face significant regulatory hurdles [2][4]. - The company has initiated a 10-day waiting period following its compliance certification with the DOJ, indicating progress in securing regulatory approvals [2][4]. Shareholder Engagement - Paramount is actively soliciting WBD shareholders to tender their shares in favor of its superior offer and plans to oppose the Netflix transaction at WBD's upcoming special meeting [1][2][5].

Core Viewpoint - Argent Trust Company, as Trustee of the Sabine Royalty Trust, announced a cash distribution of $0.283370 per unit, payable on February 27, 2026, to unit holders of record on February 17, 2026 [1] Distribution Details - The distribution is based on oil production for November 2025 and gas production for October 2025, with preliminary production volumes of approximately 45,316 barrels of oil and 1,026,714 Mcf of gas [2] - The average prices for this month's distribution are approximately $59.01 per barrel of oil and $2.27 per Mcf of gas [2] - This month's distribution is lower than the previous month due to decreased oil and natural gas production and lower pricing [2] Production and Pricing Comparison - Current month production and pricing compared to the prior month: - Oil: 45,316 barrels (down from 56,504 barrels) - Gas: 1,026,714 Mcf (down from 1,314,850 Mcf) - Oil price: $59.01 per barrel (down from $61.05) - Gas price: $2.27 per Mcf (down from $2.31) [3] Revenue Posting - Approximately $166,000 of revenue received in January will be posted in February, in addition to normal cash receipts for February [4] - Since the end of January, approximately $476,000 in revenue has been received [4] Tax Deductions - Approximately $17,000 for 2025 Ad Valorem taxes were deducted from this month's distribution, compared to $115,000 during the same period last year [5]

Financial Performance - Total revenue for the first quarter was $173.1 million, with net interest income on commercial finance loans increasing by $9.2 million [137]. - The Company reported net income of $35.2 million, or $1.57 per diluted share, for the three months ended December 31, 2025, compared to $30.0 million, or $1.23 per diluted share, for the same period in 2024, representing a 17.3% increase in net income [150]. - Net interest income for the first quarter of fiscal 2026 was $119.3 million, a decrease of 5% compared to the same quarter in fiscal 2025 [151]. - Noninterest income decreased by 6% to $53.8 million compared to $57.4 million for the same period last year, primarily due to decreases in rental income and other income [156]. - Noninterest expense was $127.2 million for the fiscal 2026 first quarter, slightly down from $127.8 million for the same quarter last year [159]. Asset and Loan Growth - Total assets increased to $7.56 billion at December 31, 2025, up from $7.17 billion at September 30, 2025, driven by a $317.9 million growth in loans and leases [134]. - New loan originations rose from $1.38 billion to $1.89 billion, reflecting growth in both consumer and commercial finance [137]. - Total gross loans and leases reached $4.98 billion at December 31, 2025, compared to $4.66 billion at September 30, 2025 [140]. - Commercial finance loans, comprising 83% of the loan portfolio, totaled $4.15 billion, reflecting a 6% increase from September 30, 2025 [141]. - Loans held for sale decreased to $88.0 million from $179.4 million at September 30, 2025, primarily due to the sale of a significant portion of the consumer finance portfolio [139]. Deposits and Equity - Total end-of-period deposits increased by 8% to $6.35 billion at December 31, 2025, compared to $5.89 billion at September 30, 2025 [142]. - Stockholders' equity totaled $853.7 million at December 31, 2025, a slight decrease from $857.5 million at September 30, 2025 [144]. - Total stockholders' equity was $853.7 million at December 31, 2025, down from $857.5 million at September 30, 2025 [185]. Credit Quality and Losses - The Company recognized a provision for credit losses of $3.2 million for the quarter ended December 31, 2025, significantly lower than the $18.7 million provision for the same period in the prior year [155]. - The Company's nonperforming assets increased to $111.5 million, representing 1.47% of total assets as of December 31, 2025, up from $101.7 million or 1.42% at September 30, 2025 [167]. - Nonperforming loans and leases totaled $109.1 million at December 31, 2025, which is 2.15% of total gross loans and leases, compared to $99.1 million or 2.05% at September 30, 2025 [168]. - The allowance for credit losses (ACL) rose to $58.8 million at December 31, 2025, from $53.3 million at September 30, 2025, primarily due to increases in the consumer finance, commercial finance, and tax services portfolios [174]. - The Company's ACL as a percentage of total loans and leases increased to 1.18% at December 31, 2025, compared to 1.14% at September 30, 2025 [176]. Interest Rate Risk Management - The Company’s interest rate risk (IRR) analysis includes Earnings at Risk (EAR) and Economic Value of Equity (EVE) methodologies to assess the impact of interest rate changes on income and valuation [198]. - The Company’s interest rate risk management strategies are subject to limits set by the Board of Directors and relevant government regulations [195]. - The Company does not currently engage in trading activities to manage IRR but may consider it in the future if necessary [196]. - The Company’s Asset/Liability Committee is responsible for managing the asset/liability mix to enhance income while mitigating interest rate risk [197]. - The Company’s investment portfolio aims to balance liquidity needs with risk minimization and yield maximization, adhering to established asset/liability management goals [192]. Capital Requirements - The Company and the Bank exceeded federal regulatory minimum capital requirements, with a Tier 1 capital ratio of 12.26% and a total capital ratio of 13.67% as of December 31, 2025 [183]. - The capital conservation buffer required is 2.5%, and the Company expects to maintain this buffer along with the minimum capital ratios [187]. Interest Income Projections - The Company’s total interest income as of December 31, 2025, is projected to be $6,736,345 thousand, with a net interest income of $456,475 thousand under base case conditions [199]. - A 200 basis point increase in interest rates is expected to increase net interest income by 15.3% to $526,433 thousand, while a 200 basis point decrease would decrease it by 9.5% to $412,885 thousand [199]. - The Economic Value of Equity (EVE) analysis indicates a potential decrease of 8.2% from the base case under a 200 basis point decline in interest rates as of December 31, 2025 [201].

Core Viewpoint - Pathward Financial, Inc. (CASH) is showing potential for bullish momentum due to a recent technical indicator known as a "golden cross" [1] Technical Analysis - CASH's 50-day simple moving average has recently crossed above its 200-day moving average, indicating a potential bullish breakout [1] - A golden cross typically follows a downtrend, where the shorter moving average crosses above the longer one, leading to a positive trend reversal [2] Performance Metrics - Over the last four weeks, CASH has moved 22.3% higher, suggesting strong upward momentum [3] - The company currently holds a 2 (Buy) rating on the Zacks Rank, indicating positive market sentiment [3] Earnings Expectations - There has been one upward revision in earnings expectations for the current quarter, with no downward revisions in the past 60 days, further supporting the bullish outlook [3] - The Zacks Consensus Estimate for earnings has also increased, reinforcing investor confidence in the stock's upward trend [3] Investment Consideration - Given the technical indicators and positive earnings revisions, investors may want to monitor CASH for potential gains in the near future [5]

Core Viewpoint - Dauch Corporation and Dowlais Group plc have received court approval for their business combination, which is set to become effective on February 3, 2026, following the delivery of the court order to the Registrar of Companies [1][3]. Group 1: Court Sanction and Scheme Details - The court has sanctioned the Scheme of Arrangement, allowing the combination between Dauch and Dowlais to proceed [1]. - The Scheme will be effective after the Scheme Record Time, which is set for 6:00 p.m. on February 2, 2026 [1]. Group 2: Prospectus and Admission - Dauch has published a prospectus approved by the Financial Conduct Authority (FCA) for the admission of its common stock to the Official List and trading on the London Stock Exchange [2]. - This admission is part of the recommended cash and share combination with Dowlais [2]. Group 3: Company Overview - Dauch Corporation is a leading global Tier 1 Automotive Supplier, specializing in Driveline and Metal Forming technologies for electric, hybrid, and internal combustion vehicles [4]. - The company is headquartered in Detroit, MI, and operates nearly 75 facilities across 15 countries [4].

Company Overview - Pathward Financial is a diversified financial services provider focusing on innovative banking and payment solutions, leveraging expertise in commercial and consumer finance to drive growth and maintain a competitive position within the U.S. regional banking sector [8] - The company reported trailing-12-month revenue of $724.3 million and net income of $191.0 million as of September 30, 2025 [6][4] - As of January 20, 2026, shares of Pathward Financial were priced at $74.18, reflecting a 5.16% decline over the past year, underperforming the S&P 500 Index by 17.67 percentage points [4][6] Recent Transaction - On January 20, 2026, Shepherd Wealth Management liquidated its entire position in Pathward Financial, selling 15,726 shares for an estimated transaction value of $10.06 million [2][4] - Following this sale, Pathward Financial represented 0% of Shepherd's reported assets under management (AUM), down from 6.7% in the previous quarter [4] Market Position and Performance - Pathward Financial's market capitalization is approximately $1.95 billion, with a current price of $74.18 [6][4] - The company's dividend yield stood at 0.27% as of January 20, 2026 [4] - The stock's 52-week range was between $64.45 and $88.66, with a trading volume of 181K and an average volume of 222K [5] Strategic Insights - The liquidation of Pathward Financial shares by Shepherd Wealth Management indicates a significant strategic overhaul, with the firm reallocating its investments towards water resources, which now constitute 27% of its portfolio [10][11] - This shift suggests a potential belief in better opportunities within water infrastructure and nuclear energy compared to traditional tech growth stocks [11]

Core Viewpoint - Pathward Financial (CASH) has shown moderate performance over the past year, with a stock price increase of approximately 7% [1] Group 1: Stock Performance - The stock recently reached a 52-week high, driven by positive investor sentiment following an encouraging earnings release [1]