Top Financial Stocks
Financial stocks were mostly lower, with the NYSE Financial
Sector Index falling about 1.0% and the S&P Financial 100 Index
retreating about 0.8%.
In company news, Home Federal Bancorp Inc of Louisiana (
) shares were lower in mid-day trade after the bank late Wednesday
said it has hired a new chief financial officer and boosted its
quarterly dividend by an extra penny.
Glen Brown joins HFBL after 17 years as vice president and
controller at Teche Holding Co's (TSH) Teche Federal Bank
subsidiary and nearly two decades at First Federal Bank in Lake
Charles, La. Current CFO Clyde Patterson will assist Brown in the
transition while continuing as treasurer at HFBL until his planned
retirement in December 2017.
The bank also declared a 17% increase in its quarterly dividend
over current levels to $0.07 per share, payable Aug. 4 to
shareholders of record on July 21.
HFBL shares recently were down about 1% at $18.83 apiece in
extremely light volume. The stock has a 52-week range of $16.64 to
$19.53 a share, advancing slightly more than 10% over the past 12
In other sector news,
(+) AMRE, (+14.0%) Regency Centers (
) goes public with $432.7 mln buyout proposal, saying "the
potential benefits of a combination are just too great to iqnore."
AMRE shareholders offered choice of receiving $22 in cash or stock
for each of their shares.
(-) SIR, (-4.1%) CommonWealth REIT (
) sells 22 mln shares of SIR common stock at $31.51 apiece, a 5%
premium over Wednesday's closing price. The $705 mln deal
liquidates CWH's entire 37.4% SIR stake. CWH shares were up 2.6% in