Financial Stocks Mostly Lower; JMP Group Rises After Boosting Dividend

By Staff,

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Top Financial Stocks

JPM -0.72%

BAC -0.41%

WFC +0.15%

C -1.24%

USB +0.02%

Financial stocks were mostly lower with the NYSE Financial Sector Index retreating about 0.4% and the S&P Financial 100 Index also declining about 0.4%.

In company news, JMP Group ( JMP ) was ending higher Wednesday, with shares of the investment banking and brokerage company rising nearly 2% after increasing its quarterly dividend by 13% to $0.045 per share, payable April 11 to shareholders of record on March 28.

Shares were ahead 1.6% at $7.45 apiece, just 3 cents off its best price of the day. The stock has a 52-week range of $5.99 to 8.42 a share.

In other sector news,

(+) PAY, Q1 EPS of $0.31 per share, ex items, beats by $0.04 per share. Non-GAAP revenue rises 1.6% to $437 mln, exceeding Street by $8.35 mln. Projected Q2 revenue tops estimates by at least $1.1 mln. FY14 EPS outlook also beats.

(-) HRZN, Q4 earnings of $0.35 per share misses Capital IQ consensus by $0.01. Revenue climbs 10.6% from year-ago levels to $8.78 mln, topping estimates by around $870,000.

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: JMP

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