Sector Update: Financial Shares Mixed As Investor Expect Compromise on Debt Ceiling


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Top Financial Shares:

JPM: flat

BAC: -0.21%

WFC: +0.05%

C: -0.99%

USB: flat

Financial shares are mixed as the government moves toward a resolution on the debt ceiling.

In stocks news, First Republic Bank ( FRC ) reported Q3 core EPS per diluted share rose 18.5% to $0.64.

Total revenues were $361.8 million up from $342.7 million in the same period last year, but missing the consensus forecast on Capital IQ for revenue of $371 million. Diluted earnings per share rose 4.2% to $0.75. Analysts had been looking for $0.75, if comparable.

And, Washington Federal ( WAFD ) said Q4 earnings rose 24.2% to $42.9 million, or $0.41 per diluted share, from $35.53 million, or $0.33 a share, a year earlier and topping the consensus estimate on Capital IQ of $0.35.

Net interest income for the quarter gained 5.2% to $97 million. The company said it will pay a dividend of $0.10 on Oct. 18th to shareholders on record as of Oct. 4. The stock is trading at the higher end of its 52-week range of $15.64 - $22.78.

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: FRC , WAFD

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