Quantcast

Financial Sector Update for 01/24/2019: WBS,SLM,ORI


Shutterstock photo

Top Financial Stocks

JPM -0.07%

BAC +0.02%

WFC -0.25%

C +0.39%

USB +0.43%

Financial stocks were narrowly mixed in afternoon trading, including a 0.1% gain for the NYSE Financial Index, while shares of financial companies in the S&P 500 were slipping less than 0.1%. The Philadelphia Housing Index was rising nearly 1.3%.

Among financial stocks moving on news:

(+) Webster Financial ( WBS ) was more than 3% higher in recent trading after the bank holding company reported adjusted Q4 net income of $1.01 per share, improving on a $0.73 per share profit during the same quarter last year and beating the Capital IQ consensus by $0.03 per share. Total revenue grew to $310.3 million from $271 million last year and also topping the $305.6 million Street view.

In other sector news:

(+) Sallie Mae ( SLM ), formerly SLM Corp, jumped out to a nearly 11% gain after the student loan company reported core adjusted Q4 earnings of $0.31 per share, more than trebling its year-ago profit and beating the Capital IQ by $0.04 per share. It also recorded better-than-expected revenue in addition to authorizing a new quarterly dividend, a $200 million buyback program and issuing above-consensus FY19 guidance.

(-) Old Republic International ( ORI ) declined Thursday, falling 7%, after the insurance underwriter reported a drop in Q4 net income to $1.28 billion compared with $1.73 billion in revenue during the year-ago quarter, and also trailing $1.57 billion consensus call.

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: WBS , SLM , ORI




More from MT Newswires

Subscribe






MT Newswires
Contributor:

MT Newswires

Market News, Commodities










Research Brokers before you trade

Want to trade FX?