Financial shares were a bit higher in morning trade ahead of
business productivity data and as the U.S. authorizes airstrikes in
In financial stocks news, Essent Group (
) said that for Q2, financial results improved from the year-ago
period, and topped analysts' expectations.
The Bermuda-based holding company, which offers private mortgage
insurance and reinsurance for mortgages secured by residential
properties located in the U.S., reported Q2 earnings of $19.6
million or $0.23 per diluted share, compared with $15 million or
$0.18 per share in the prior-year period. The Capital IQ analyst
estimate is for $0.21 EPS.
And, Redwood Trust (
) reported net income of $16 million, or $0.18 per share for Q2,
down from $66 million, or $0.71 per share a year prior. Redwood
also reported estimated REIT taxable income of $14 million, or
$0.17 per share.
The Street expected earnings of $0.34 per share.
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