Top Financial Stocks
Financial stocks are narrowly higher with the NYSE Financial
Sector Index rising 0.1% with the S&P Financial 100 Index also
In company news, First Internet Bancorp (
) is up more than 3% a share this afternoon with the bank holding
company saying Wednesday it has closed on a public offering of
INBK sold a total of 1.587 million shares of its common stock,
including 207,000 shares issued after underwriters exercised
overallotment options, at $20 apiece. The bank expects to pocket
around $29.1 million in net proceeds after underwriter discounts
and other offering costs are deducted.
Its expect to use the new funds to support organic growth,
pursuit of strategic acquisition opportunities, and other general
In other sector news,
(+) OXLC, (+3.9%) The closed-end management investment company
hikes dividend by 9% to $0.60 per share. It also declares a special
$0.10 per share dividend; Both dividends are payable March 31,
2014, to stockholders of record on March 17.
(+) MFC, (+0.4%) Discloses plans to issue $250 mln of its 2.926%
fixed/floating subordinated debentures due November 2023. The notes
will bear interest at 2.926% per year through 2018 and then at
0.85% over the three-month CDOR rate.
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