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Financial Sector Update for 03/22/2018: DB, USB, WBC, STI, CFG, TCT, WFC, C, ACFC, STBA


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Top Financial Shares:

JPM: -0.9%

BAC: -0.8%

WFC: -0.5%

C: -0.9%

USB: -0.7%

Financial shares were lower in pre-market trading on Thursday.

At 8:30 am, data are expected to show new unemployment claims coming at 225,000 for the March 17 week versus 226,000 in the prior week, according to Econoday.

At 9:45 am, forecasters see the PMI composite coming in at 55.2 in March, with PMI manufacturing at 55.4% and PMI services at 55.7.

At 10 am, the index of leading economic indicators is expected to post a 0.3% gain in February versus January's outsized gain of 1%.

In sector news, following the Federal Reserve's announcement to increase the Federal Funds rate, banks including Deutsche Bank AG ( DB ), US Bancorp ( USB ), Webster Financial Corporation ( WBS ), SunTrust Banks ( STI ), Citizens Financial Group, Inc. ( CFG ), TCF Financial Corporation (TCF), Wells Fargo (WFC) and Citigroup (C) said Thursday that they have raised their prime lending rates from 4.50% to 4.75% effective Friday, March 22.

Expected movers:

- Atlantic Coast Financial (ACFC): shareholders OK proposed merger with Ameris Bancorp (ABCB)

Other news:

- S&T Bancorp (STBA): sets up $50 million share buyback plan

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: DB , USB , WBS , STI , CFG



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