Financial Stocks End Lower; CNB Financial Gives Back Gains Despite Analyst Upgrade

By Staff,

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Top Financial Stocks

JPM -1.90%

BAC -2.36%

WFC -1.96%

C -2.28%

USB -2.39%

Financial stocks were declining with the NYSE Financial Sector Index falling 2.5% and the S&P Financial 100 Index sliding 2.5%.

In company news, CNB Financial Corporation Inc ( CCNE ) closed 0.1% lower at $16.04 a share, giving back earlier gains after Boenning & Scattergood upgraded the stock to Outperform from Neutral. The broker kept its target price on the financial holding company at $19.50.

CCNE has as 52-week range $15.50 - $21.04.

In other sector news,

(+) CYS, Lower-than-expected Institute of Supply Management manufacturing index reading for last month seen pushing interest rates lower, aiding mortgage real estate investment trusts. Also higher today were NLY, WMC and CMO.

(-) ONB, Reports Q4 earnings of $0.25 per share, in-line with the Capital IQ consensus. Net income for the quarter was $24.5 million, up 6.7% over the same quarter last year.

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) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing Commodities
Referenced Stocks: CCNE

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