Sector Update: Financial Shares Higher as Ukraine Conflict Eases

By Staff,

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Top Financial Shares:

JPM: +1.05%

BAC: +1.17%

WFC: +1.08%

C: +1.24%

USB: flat

Financial shares were solidly higher in the pre-market session Tuesday, recovering from a sell off Monday over the crisis in Ukraine.

In financial stocks news, Bank of Nova Scotia (BNS, BNS.TO) reported Tuesday in line earnings and better-than-expected revenues for Q1 2014. It also approved a $0.02 increase to its quarterly dividend.

The Canadian lender said net income was C$1.71 billion, or C$1.32 per diluted share, up from last year's net income of C$1.68 billion, or C$1.24 per diluted share. On a comparable basis, adjusted diluted EPS was C$1.34, in line with the Capital IQ consensus. Year-ago adjusted diluted EPS was C$1.26.

And, Hilltop Holdings Inc. ( HTH ) the parent company of PlainsCapital Bank, PrimeLending and First Southwest along with its National Lloyds Corp property and casualty insurance subsidiary, posted improved earnings in Q4 late Monday.

HTH produced net income to common stockholders of $29.5 million, or $0.34 per share, up from an $8.6 million profit, or $0.13 per share. No analyst estimates were available for comparison.

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: HTH

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