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


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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.

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This article appears in: Investing , Banking and loans
Referenced Symbols: SNH , CG , GSBD , PRAA




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