First Marblehead Corporation

Type: Company
Name: First Marblehead Corporation
First reported Jul 26 2014 - Updated Jul 26 2014 - 1 reports

Citizens sees growth in student loans

The high cost of college has many young graduates reeling under the burden of student loan debt in a sluggish economy that no longer promises a job as a result of a college degree.Even so, the traditional American pathway to success – a college education ... [Published Providence Business News - Jul 26 2014]
First reported Jul 23 2014 - Updated Jul 23 2014 - 1 reports

Stock Investors Bid Up Shares of First M...

First Marblehead (NYSE:FMD), a company whose shares are moving quickly, is trading 0.7% lower to $5.31. The Dow Jones Industrial Average is now trading fractionally lower to 17,099 and the S&P is trading 0.2% higher to 1,988.First Marblehead (NYSE:FMD) ... [Published Financial News Network online - Jul 23 2014]
First reported Jul 15 2014 - Updated Jul 15 2014 - 1 reports

Mass. Movers Zacks reiterates ‘neutral’ rating on First Marblehead stock

Continue reading belowBoston-based First Marblehead Corp.’s stock had its “neutral” rating reiterated by Zacks Investment Research, which has a $7 price target. The company posted a quarterly net loss of $5.1 million, or 45 cents per share, but that was ... [Published Boston Globe - Jul 15 2014]
First reported Jul 12 2014 - Updated Jul 12 2014 - 1 reports

Reflecting state economy, banks less profitable in 1Q

Two Rhode Island banks posted a higher return on assets than the national average for the first quarter of 2014, according to the Federal Deposit Insurance Corp.’s Quarterly Banking Profile.North Providence-based Union Federal Savings Bank topped the ... [Published Providence Business News - Jul 12 2014]
First reported Jul 09 2014 - Updated Jul 10 2014 - 2 reports

First Marblehead Corp. Receives Neutral Rating from Zacks (FMD)

Tweet[embedded content]Zacks restated their neutral rating on shares of First Marblehead Corp. (NYSE:FMD) in a report issued on Wednesday. They currently have a $7.00 target price on the stock.Zacks’ analyst wrote, “FMD reported its fiscal 2014 third ... [Published Mideast Time - Jul 10 2014]
First reported Jul 07 2014 - Updated Jul 07 2014 - 2 reports

First Marblehead Shares Climbing Higher, Up 6.5%

Written on Mon, 07/07/2014 - 11:08amBy Nick RussoOne of today's stocks on the move is First Marblehead ( NYSE:FMD ), up 6.5% to $5.74. The S&P is trading fractionally lower to 1,982 and the Dow is trading 0.2% lower to 17,032.First Marblehead is in SmarTrend's ... [Published Comtex SmarTrend - Jul 07 2014]
First reported Jul 07 2014 - Updated Jul 07 2014 - 1 reports

First Marblehead appoints CFO, chief accounting officer and managing director

The First Marblehead Corporation has appointed Alan Breitman as CFO, chief accounting officer and managing director, effective August 4, 2014. Mr Breitman will report directly to the Company's Chairman and CEO, Daniel Meyers, and will have responsibility ... [Published Individual.com - Jul 07 2014]
First reported Jul 03 2014 - Updated Jul 03 2014 - 1 reports

Wall Street On Jobs Watch

Early indications suggest that Wall Street stocks may open the truncated session on Thursday marginally higher, although a couple of data scheduled between now and the opening of the markets could sway the mood in a particular direction. Rate decision ... [Published RTTNews.com - Jul 03 2014]
First reported Jul 02 2014 - Updated Jul 03 2014 - 3 reports

First Marblehead picks a new chief financial officer

The CFO position at First Marblehead is a particularly demanding one that includes helping to resurrect a company that suffered badly in the credit crisis and is in the midst of an audit fight with the IRS.The Boston student lending firm said the job ... [Published Los Angeles Business - Jul 03 2014]
First reported Jul 01 2014 - Updated Jul 02 2014 - 2 reports

First Marblehead Makes a Move: Up 3.7%

Written on Wed, 07/02/2014 - 11:08amBy Shiri GuptaOne of today's notable stocks on the rise is First Marblehead ( NYSE:FMD ), up 3.7% to $5.35. The Dow is trading fractionally higher to 16,967 and the S&P is currently trading fractionally higher to ... [Published Comtex SmarTrend - Jul 02 2014]
First reported Jul 01 2014 - Updated Jul 01 2014 - 2 reports

First Marblehead's Bank Subsidiary Completes the Second of Two Planned Sales of Private Student Loans to RBS Citizens Financial Group, Inc.

BOSTON, MA--(Marketwired - Jul 1, 2014) -  The First Marblehead Corporation (NYSE: FMD) today announced that on June 25, 2014 its subsidiary Union Federal Savings Bank sold a portfolio of private student loans with an outstanding principal balance of ... [Published Marketwire - Breaking News Releases - Jul 01 2014]
First reported Jun 24 2014 - Updated Jun 24 2014 - 2 reports

The First Marblehead Corporation (NYSE:FMD) Investor Alert: Investigation over Potential Breaches of Fiduciary Duties

San Diego, CA -- ( SBWIRE ) -- 06/24/2014 -- An investigation for long-term investors in The First Marblehead Corporation ( NYSE:FMD ) shares over potential breaches of fiduciary duties by certain First Marblehead directors and officers was announced ... [Published SBWire - Jun 24 2014]

Quotes

Zacks’ analyst wrote, "FMD reported its fiscal 2014 third quarter, posting a net loss of $5.1 million, or a loss per share of $0.45. This compares to our third quarter loss estimate of $5.5 million, or a loss of $0.48 per diluted share. The primary reason for the better performance vis- -vis our estimate was that fair value changes to service revenue receivables of $1.4 million came in about $0.9 million higher than our $450,000 projection, partly offset by higher-than-expected taxes (off by $250,000) and compensation expense (off by $0.3 million). In last year’s third quarter, FMD reported a net loss of $8.8 million, or a loss per share of $0.79. FMD announced that it was considering strategic alternatives for its banking subsidiary, Union Federal Savings Banks (UFSB or Union Federal), including sale or liquidation. Private educationeducation lending products previously offered by UFSB will now be originated and funded by SunTrust Bank. In return for fee income, FMD will perform loan processing services, program support and portfolio management services, and program administration services, as well as provide credit enhancement for the Union Federal Private Student Loan Program. In fiscal year 2015, fees received under the SunTrust program, which are a combination of disbursement-related fees and net spread, will approximate the same amount of net interest income that would have been generated by Union Federal if it had continued to originate and fund these loans itself. Importantly, this arrangement with SunTrust eliminates internally imposed balance sheet and concentration limits that had hurt loan growth, should improve revenue opportunities, and will provide for more efficient use of capital. We are maintaining our EPS loss estimates at a $3.30 loss per share for fiscal 2014 and a loss per share of $3.10 for fiscal 2015."
"Alan's impressive experience and leadership makes him a great fit for First Marblehead," said Mr Meyers. "We welcome him to our team and look forward to his contributions to the Company."
"The rapid growth of the student loan market has been the focus of a great deal of media, political and regulatory attention" said Dan Feshbach

More Content

All (31) | News (18) | Reports (0) | Blogs (10) | Audio/Video (0) | Fact Sheets (2) | Press Releases (1)
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Parents Stuck With $200K In Student Loan Debt A... [Published The Consumerist - 11 hours ago]
Citizens sees growth in student loans [Published Providence Business News - Jul 26 2014]
Stock Investors Bid Up Shares of First M... [Published Financial News Network online - Jul 23 2014]
Mass. Movers Zacks reiterates ‘neutral’ rating ... [Published Boston Globe - Jul 15 2014]
Reflecting state economy, banks less profitable... [Published Providence Business News - Jul 12 2014]
First Marblehead Corp. Receives Neutral Rating ... [Published Mideast Time - Jul 10 2014]
First Marblehead Corp.’s Neutral Rating Reaffir... [Published American Banking News - Jul 09 2014]
First Marblehead Shares Climbing Higher, Up 6.5% [Published Comtex SmarTrend - Jul 07 2014]
First Marblehead Shares Climbing Higher, Up 6.5% [Published Individual.com - Jul 07 2014]
First Marblehead appoints CFO, chief accounting... [Published Individual.com - Jul 07 2014]
Wall Street On Jobs Watch [Published RTTNews.com - Jul 03 2014]
First Marblehead picks a new chief financial of... [Published Los Angeles Business - Jul 03 2014]
First Marblehead Appoints New Chief Financial O... [Published Stock Nod - Jul 02 2014]
First Marblehead Appoints New Chief Financial O... [Published Marketwire - Breaking News Releases - Jul 02 2014]
First Marblehead Makes a Move: Up 3.7% [Published Comtex SmarTrend - Jul 02 2014]
First Marblehead closes $20.3M loan sale to Cit... [Published Business First of Buffalo - Jul 01 2014]
First Marblehead's Bank Subsidiary Completes th... [Published Marketwire - Breaking News Releases - Jul 01 2014]
Mass. Movers Investor takes big stake in First ... [Published Boston Globe - Jul 01 2014]
Second Curve Reports 10% Stake in The First Mar... [Published InsiderMonkey.com - Jun 25 2014]
The First Marblehead Corporation (NYSE:FMD) Inv... [Published SBWire - Jun 24 2014]
The First Marblehead Corporation (NYSE:FMD) Inv... [Published The CW44 Tampa Bay - Jun 24 2014]
First Marblehead and SunTrust Extend Contract U... [Published Marketwire - Breaking News Releases - Jun 02 2014]
Frontrunning: May 7 [Published Zero Hedge - May 07 2014]
First Marblehead Announces Third Quarter Financ... [Published Marketwire - Breaking News Releases - May 06 2014]
First Marblehead to Release Third Quarter Fisca... [Published Marketwire - Breaking News Releases - Apr 29 2014]
First Marblehead's Bank Subsidiary Completes th... [Published Marketwire - Breaking News Releases - Mar 31 2014]
First Marblehead Announces Second Quarter Finan... [Published Marketwire - Breaking News Releases - Feb 10 2014]
First Marblehead to Release Second Quarter Fisc... [Published Marketwire - Breaking News Releases - Feb 05 2014]
MeasureOne Releases Comprehensive Analysis Of P... [Published PR Newswire - Dec 19 2013]
Fact Sheet for First Marblehead Corporation [Published Able2Act - Jan 07 2008]
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Blogs

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Parents Stuck With $200K In Student Loan Debt A... [Published The Consumerist - 11 hours ago]
( Daniel Lobo ) The last thing families want to deal with after the death of a loved one is a phone call reminding them of their departed’s debt. But that’s the case for a number of parents who have inherited the obligation to repay the student loans ...
First Marblehead Appoints New Chief Financial O... [Published Marketwire - Breaking News Releases - Jul 02 2014]
BOSTON, MA--(Marketwired - Jul 2, 2014) - The First Marblehead Corporation (NYSE: FMD) today announced that Alan Breitman will be joining the Company's leadership team as Chief Financial Officer, Chief Accounting Officer and Managing Director, effective ...
First Marblehead's Bank Subsidiary Completes th... [Published Marketwire - Breaking News Releases - Jul 01 2014]
BOSTON, MA--(Marketwired - Jul 1, 2014) -  The First Marblehead Corporation (NYSE: FMD) today announced that on June 25, 2014 its subsidiary Union Federal Savings Bank sold a portfolio of private student loans with an outstanding principal balance of ...
First Marblehead and SunTrust Extend Contract U... [Published Marketwire - Breaking News Releases - Jun 02 2014]
BOSTON, MA--(Marketwired - Jun 2, 2014) - The First Marblehead Corporation (NYSE: FMD) today announced that it has entered into an amendment to its loan program agreement with SunTrust Bank. The amendment extends the term of the loan program agreement ...
Frontrunning: May 7 [Published Zero Hedge - May 07 2014]
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Press Releases

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MeasureOne Releases Comprehensive Analysis Of P... [Published PR Newswire - Dec 19 2013]
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