Financial stocks are mixed with the NYSE Financial Sector Index
slipping less than 0.1% while the S&P Financial 100 Index is up
slightly more than 0.2%.
In company news, Provident Financial Services (
) is up 6% at near $18.90 a share, just off its new 52-week high
after reporting Q3 earnings of $0.28 per share, beating the Capital
IQ consensus by $0.02 per share.
PFS also continues to report improved asset quality, with
non-performing loans totaling $81.6 million on Sept. 30,
representing 1.60% of its loan portfolio compared to 1.78% at the
end of its June quarter and 2.19% at the end of the year-ago
In other sector news,
(-) ING, (-1%) Reduces its stake in ING U.S. Inc. (
) by another 2% to 57% after underwriters exercise overallotment
options to purchase an additional 4.95 mln shares at $29.50 apiece,
generating $146 mln in gross proceeds for ING.
(-) BSAC, (-2.7%) Reports Q3 net income of $0.43 per ADR,
trailing analyst expectations by $0.05.
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