Sector Update: Financial

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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.



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This article appears in: Investing , Commodities

Referenced Stocks: FRC , WAFD

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