Financial Sector Update for 09/21/2016: OTIV,BCS,OFG


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Top Financial Stocks

JPM +0.37%

BAC +0.80%

WFC -2.26%

C +0.75%

USB +0.33%

Financial stocks were mostly higher in afternoon trading, with the NYSE Financial Sector Index rising nearly 0.5% while financial companies in the S&P 500 Index were ahead by about 0.3% today.

In company news, On Track Innovations Ltd ( OTIV ) gained Wednesday after the Israeli company today said it has received a follow-on order for 65,000 of its cashless payment transaction readers that will be attached to vending machines throughout North America.

The company said the unidentified existing customer will begin taking delivery of the devices immediately and should receive the entire order before the end of March 2017.

OTIV shares were up more than 7% at $1.04 apiece, earlier climbing to a session high of $1.17 a share.

In other sector news,

(+) BCS, (+2.7%) Raised to Buy from Hold by analysts at HSBC.

(-) OFG, (-3.0%) Sells outstanding stake in a bank line of credit for the Puerto Rico Electric Power Authority, generating about $124 mln in gross proceeds and paring the company's exposure to Puerto Rican government debt.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2016 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , Banking and loans
Referenced Symbols: OTIV , BCS , OFG

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