Sector Update: Financial Shares Higher in Pre-Market Trade; PennyMac Upgrades to Outperform at Wells Fargo

Comment

Shutterstock photo

Top Financial Shares:

JPM: +0.22%

BAC: +0.65%

WFC: +0.51%

C: +0.32%

USB: +0.05%

Financial shares were higher Friday in pre-market trade ahead of consumer spending data and a consumer confidence report.

In financial stocks news, real estate broker RE/MAX ( RMAX ) reported improved Q4 performance vs. a year ago in after-hours Thursday, with both EPS and revenues topping analyst estimates.

The company also declared a quarterly dividend of $0.0625 per share of Class A common stock, payable April 18, 2014, to shareholders of record at the close of business April 4, 2014.

Adjusted net income for Q4 2013 grew 8.2% to $9.4 million, or $0.31 per share, compared to $8.7 million a year ago.

And, PennyMac Financial Services ( PFSI ) shares were upgraded to Outperform from Market Perform at Wells Fargo with a price target raised to $19 from $17.

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 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.



This article appears in: Investing , Commodities
More Headlines for: RMAX , PFSI


More from MT Newswires

Subscribe






MT Newswires
Contributor:

MT Newswires

Market News, Commodities
Follow on:

Find a Credit Card

Select a credit card product by:
Select an offer:
Search
Data Provided by BankRate.com