Financial Stocks Trying to Add to Small Gains; Old National Slips After Sandler O'Neill Cuts Rating


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Top Financial Stocks

JPM +0.45%

BAC -0.61%

WFC +0.08%

C +0.93%

USB +0.08%

Financial stocks were narrowly higher with the NYSE Financial Sector Index rising 0.1% and the S&P Financial 100 Index adding 0.2%.

In company news, Old National Bancorp ( ONB ) shares fell Wednesday after the bank holding company was reduced to Hold from Buy in a downgrade today at Sandler O'Neill.

ONB was down nearly 1% at $15.00 a share just ahead of the closing bell, rising slightly off its intra-day low of $14.83 a share. The stock has a 52-week range of $11.68 to $15.80, rising about 16% over the past 12 months.

In other sector news,

(+) EJ, Brean Capital begins coverage of the real estate services firm with a Buy rating and a $20 price target.

(-) NYMT, Prices underwritten offering of 13 mln shares of its common stock at $7.49 each - marking a 4.2% discount to Tuesday's closing share price. Deal generates $97.4 million in gross proceeds.

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

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