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Financial Sector Update for 02/12/2019: OMF,MGI,FNB,ONDK


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Top Financial Stocks

JPM +1.65%

BAC +0.96%

WFC +3.23%

C +1.91%

USB +1.36%

Financial stocks advanced in afternoon trading, including a nearly 1.2% gain for the NYSE Financial Index while shares of financial companies in the S&P 500 were climbing over 1.5%. The Philadelphia Housing Index was rising nearly 3.0%.

Among financial stocks moving on news:

(+) OneMain Holdings' ( OMF ) surged 13% on Tuesday after reporting non-GAAP Q4 net income of $1.39 per share, up from $1.06 per share during the same period last year and beating the Capital IQ consensus by $0.06 per share. Revenue for the October-to-December fiscal period also exceeded the Street view and the consumer lender also initiated a quarterly dividend of $0.25 per share, payable March 15 to shareholders of record on Feb. 26.

In other sector news:

(+) FNB Corp ( FNB ) was fractionally higher in recent Tuesday trading after the financial services company Tuesday priced a $120 million private placement of 4.950% fixed-to-floating rate subordinated notes due 2029. The notes will initially yield 4.95% in annual interest for the first five years and then pay the then-current three-month LIBOR plus 240 basis points quarterly beginning in February 2024.

(-) MoneyGram ( MGI ) dropped nearly 8% after the money-transfer company late Monday reported non-GAAP Q4 net income of $0.01 per share, paring almost all of a $0.26 per share adjusted profit during the year-ago period and trailing the Capital IQ consensus by $0.11 per share.

(-) On Deck Capital ( ONDK ) tumbled Tuesday, falling 13%, after the small-business lender issued a FY19 earnings forecast trailing the Capital IQ consensus, projecting non-GAAP net income in a range of $30 million to $40 million, compared with the estimate of $45 million compiled by Capital IQ. The Street is expecting adjusted EPS of $0.58.

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

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This article appears in: Investing , Banking and loans
Referenced Symbols: OMF , FNB , MGI , ONDK



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