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


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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.

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

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