Financial stocks were mostly higher with the NYSE Financial
Sector Index climbing about 0.7% and the S&P Financial 100
Index also rising about 0.7%.
In company news, Regions Financial (
) was higher Thursday after analysts at Citigroup raised their
price target for the bank holding company by $1 to $12 a share.
RF shares were ahead about 1.5% at $10.85 each this afternoon,
earlier topping out at a session high of $10.96 a share this
morning. The stock has a 52-week range of $8.84 to $11.54 a share,
rising about 11.5% over the past 12 months.
In other sector news,
(+) DRL, (+12.3%) Appeals court reverses lower court ruling, now
requiring the lower court to hold a hearing asking Puerto Rico's
Treasury Department to prove its reasons for voiding an earlier
agreement to repay $230 mln in back taxes owed to the bank.
(-) SLG, (-0.6%) Issues 564,798 Series K convertible preferred
units to fund purchase of commercial real estate properties.
Initial conversion price is set a $124.67 per unit and yields 3.5%