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Investors Research Institute, Inc. Announces PAR Initiates Quarterly Professional Analyst Coverage for Mortgage Bankers Holding Corp.
NEW YORK CITY--(BUSINESS WIRE)--Aug. 25, 1998--The non-profit Investors Research Institute, Inc., has announced that a professional analyst qualified in its unique Public Analysis & Review (PAR) program will initiate coverage of Mortgage Bankers Holding Corporation (OTCBB:MBHC - news), beginning immediately.
The initial report is expected to be issued within a few weeks, and afterwards MBHC will be followed on a quarterly basis after the issuance of each earnings report.
Mortgage Bankers Holding Corp., whose slogan is ''The Lender Behind Your Local Bank'', is a diversified technology-based financial services company, which, through its subsidiaries, Mortgage Bankers Service Corp., Commonwealth Capital Investment Corporation, Pinnacle Insurance & Investment
Group, Inc., National Settlements, Inc. and International Auto Funding, Corp., utilizes data transfer and exchange to offer a full spectrum of financial and asset management services and products. Raymond P. Sobieralski is Chairman/CEO.
To meet the ''scrutiny'' requirement to display the ''Seal of Best Practices in Investor Relations'', public company enrollees must demonstrate third-party coverage. Because such coverage has not been readily available, the Institute's board authorized the creation of the PAR program to compensate for the lack of analysts covering small-cap equities. MBHC is a provisional ''Elite'' member of the 'Seal'' program. Full status will be accorded upon the successful completion of a third-party analyst report.
Nine wirehouse-quality analysts are currently qualified in the PAR program, whose reports are issued completely independent of both the Institute and covered public companies. The PAR program is administered for IRI by IRI, Inc. (IRIK), a public company in registration. The analyst to be assigned to MBHC is expected to be announced next week.
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