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Financial Sector Update for 01/11/2019: UBSH,ANCX,WDR,LM,GS


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Top Financial Stocks

JPM -0.37%

BAC +0.74%

WFC +0.31%

C +1.00%

USB -0.12%

Financial stocks were ending narrowly higher this afternoon, with the NYSE Financial Index climbing less than 0.1% while shares of financial companies in the S&P 500 also were rising under 0.1%. The Philadelphia Housing Index slipped almost 0.2%.

Among financial stocks moving on news:

(-) Union Bankshares ( UBSH ) was narrowly lower Friday afternoon after the bank holding company said it has received all of the necessary regulatory approval needed to complete its proposed acquisition of Access National Corp ( ANCX ). The $610 million deal remains subject to shareholder votes at both companies.

In other sector news:

(+) Goldman Sachs ( GS ) was fractionally higher in afternoon trade after Reuters reported that the bulge-bracket investment bank was looking to offer cash management services beginning in the first half of 2020 in a bid to limit its exposure to more volatile parts of its existing business.

(-) Legg Mason ( LM ) slipped less than 1%. Bank of America Merrill Lynch raised its investment rating on the asset manager to neutral from underperform, but lowered its price target for the company's stock by $1 to $29 a share.

(-) Waddell & Reed Financial ( WDR ) was down nearly 5% on Friday after reporting an 8.6% decline in assets under management to $65.8 billion for the month ended Dec. 31.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.




This article appears in: Investing , Banking and loans
Referenced Symbols: UBSH , ANCX , GS , LM , WDR



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