Financial Sector Update for 03/01/2019: SNH,CG,GSBD,PRAA

Shutterstock photo

Top Financial Stocks

JPM +0.09%

BAC +0.98%

WFC +0.39%

C +0.75%

USB -0.28%

Financial stocks were maintaining most of their mid-day gains, including a slightly more than 0.1% advance for the NYSE Financial Index this afternoon while shares of financial companies in the S&P 500 were climbing almost 0.7%. The Philadelphia Housing Index was ahead over 0.6%.

Among financial stocks moving on news:

(-) Senior Housing Properties Trust ( SNH ) fell nearly 9% after the real estate investment trust early Friday reported Q4 financial results falling short of analyst forecasts. Adjusted funds from operations rose to $0.27 per share during the October-to-December period on $285.2 million in revenue, lagging the Capital IQ consensus by $0.07 per share and $1.9 million, respectively.

In other sector news:

(-) Carlyle Group ( CG ) turned fractionally higher this afternoon after saying acquired a 9% stake in SBI Life Insurance Company from BNP Paribas Cardif. Financial terms of the transaction were not disclosed.

(-) Goldman Sachs BDC ( GSBD ) slipped fractionally after the specialty investor late Thursday reported FY18 net income of $1.34 per share, up from $1.28 per share during the prior-year period but lagging the $1.89 per share analyst mean.

(-) PRA Group ( PRAA ) declined almost 5% on Friday after reporting a big drop in Q4 earnings to $0.33 per share from a restated $1.96 per share during the final quarter of 2017. But that still topped the Capital IQ consensus expecting a $0.30 per share profit for the loan-collections company, which also saw its Q4 revenue rise 12.3% year-over-year to $236.74 million, besting the $229.88 million Street view.

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: SNH , CG , GSBD , PRAA

More from MT Newswires


MT Newswires

MT Newswires

Market News, Commodities

Research Brokers before you trade

Want to trade FX?