It just keeps getting better and better. Great rates! $100 million in new auto loan originations in 1 month!!! The origination platform that is in place is now at the level of peak efficiency. This will have a very positive impact on earnings. A very big CONGRATULATIONS to John and John and their outstanding team!
Everything about the first quarter results are very impressive. This bank is really on a roll.
Last week's announcement regarding CRPB's 4th securitization once again (http://finance.yahoo.com/news/california-republic-bancorp-announces-completion-221100384.html)
demonstrates the continued progress this management team is making for the benefit of CRPB's shareholders. The rates obtained show the continued improvement in spreads that occurred at the time of the second and third securitizations. The A-1 note class has an interest rate of .25% which is only 18 basis points above the 6 months CMT (constant maturity treasury rate of .07%) and compares very favorably to the .33% of securitization #3 which was 23 basis points above the 6 months CMT. The A-2 to 4 note classes had a combined average interest rate of .96% which is only 5 basis points above the 3 year CMT and compares even more favorably to the 1.23% of securitization #3 which was 66 basis points above the 3 year CMT...WOW! Going to 6 note classes from 4 and adding 12 new capital market buyers to the platform made a significantly big difference. This represents incredible progress in such a short period of time.
Another big CONGRATULATIONS! to our management team for this continued outstanding performance.
Sentiment: Strong Buy
Today's announcement regarding CRPB's 3rd securitization demonstrates the continued progress that CRPB is making for the benefit of shareholders. The rates obtained show the continued improvment in spreads that occurred at the time of the second securitization. The 2 prime truanches have a combined interest rate of 1.073% or 50 basis points over the 3 year constant maturity treasury rate. This compares to 1.245% or 55 basis points over the constant 3 year maturity treasury rate in June (2013) and 1.18% or 83 basis points over the constant 3 year maturity treasury rate in November (2012). With the auto loan origination rate running at about $70 million per month and still increasing this is becoming a very profitable business.
A big and hearty CONGRATULATIONS to management for doing an excellent job!
Sentiment: Strong Buy
Is anyone concerned about Select Comfort's revenue shortfall and their revenue guidance and whether or not their revenue problem may be an industry problem and not just a Select Comfort problem?
MRFM weak. Very disappointing quarter highlighted by disappointing conference call coupled with significant downgrading of future earnings estimates by company and all the analysts. Where do we go from here?
Loan growth: impressive. Non interest bearing checking account growth: impressive. Net interest margin: impressive. Earnings: impressive especially in light of the expenses of rolling out the indirect auto business on a national scale. This bank is hitting on all cylinders. Tiger, what do you think?
Still looking for your technical advice...for what it is worth. Since the company recently tested its 200 day moving average, failed the test and since then has been in a downward spiral and has now blasted through its 50 day moving average and is continuing to go lower, I cannot help but ask what your technical charts are telling you now? Or have you given up on cheerleading for VMWare?
Paypal is not the first and certainly will not be the last to switch from high cost VMWare to lower cost solutions. Now that IBM, Microsoft and all those that support OpenStack are targeting the huge margins and huge market share of VMWare, there can be only one direction for VMWare's margins and market share...DOWN! How long can VMW support its 40+ P/E?
You are right I am not a technical trader but I am interested in your views regarding VMW. It seems to me that long term technicals show this stock having lower highs and lower lows. Also, did it not just test its 200 day moving average and then back off rather quickly? Isn't that a bad technical sign?