Top Financial Shares:
Financial shares were pointing lower in pre-market trade Monday
ahead of pending home sales data, which are due out at 10 a.m.
In financial stocks news, Education Realty Trust (
) reported core funds from operations in line with the Street view
while fiscal 2014 guidance range was also on par, although revenue
results were short.
For the full year, the company updated full year Core FFO
guidance to $0.61 to $0.64 per share/unit, representing an 11% to
16% increase over 2013. The Street expects $0.61 per share.
EDR trades in a 52-week range of $8.30 to $11.31, with shares
steady at $11.00 in pre-market.
And, Zions Bancorporation (
) said the Federal Reserve did not object to its resubmitted
capital plan for 2014.
Capital actions contemplated by the plan included the continued
payment of preferred and common dividends at the current rates. The
resubmitted plan included a proposed issuance of $400 million of
common equity in the third quarter of 2014, however, Zions has
determined to increase that amount. It announced Monday it is
commencing a $525 million stock offering.
Finally, Opus Bank (
), which provides banking products and services to small and
midsized commercial companies, reported Q2 results above analysts'
expectations as assets climbed on strong loan growth and asset
Net income came in at $10.3 million, or $0.32 per diluted share,
down from $18.7 million, or $0.65 per diluted share, a year
earlier, but above three analysts' average estimate of $0.26 per
share, according to Thomson Financial.
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