Financial Sector Update for 03/11/2019: UBA,UBP,EVOP,CNOB,TRNO

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Top Financial Stocks

JPM +1.23%

BAC +1.01%

WFC -0.03%

C +0.65%

USB +1.06%

Financial stocks rebounded Monday, including a nearly 1.1% gain for the NYSE Financial Index while shares of financial companies in the S&P 500 also were climbing over 0.9%. The Philadelphia Housing Index was rising just under 1.5%.

Among financial stocks moving on news:

(-) Urstadt Biddle Properties (UBA,UBP) retreated Monday, falling over 1%, after the real estate investment trus t report ed funds from operations of $0.32 per share for its fiscal Q1 ended Jan. 31, down a penny from the same quarter last year and missing the Capital IQ consensus by $0.02 per share.

In other sector news:

(+) EVO Payments ( EVOP ) rose more than 2% on Monday after the electronic payments processing company said it acquired privately held Way2Pay, which provides integrated payment solutions for schools and clubs in Ireland and the UK. Financial terms were not disclosed.

(+) ConnectOne Bancorp ( CNOB ) added more than 2% after the bank holding company authorized a new stock buyback program for up to 1.2 million shares of its common stock, or up to 3.5% of its outstanding shares.

(+) Terreno Realty ( TRNO ) was 1% higher Monday after the real estate investment trust said it purchased an industrial property in Kearny, N.J. for about $25 million. The 16.8-acre parcel was acquired as partial repayment of a $55 million senior secured loan Terreno Realty made in 2018, cutting its outstanding loan balance to $30 million.

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: EVOP , CNOB , TRNO , UBA , UBP

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