Financial Sector Update for 05/24/2018: RY,TD

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Top Financial Stocks

JPM -1.49%

BAC -0.85%

WFC -2.60%

C -1.49%

USB -0.80%

Financial stocks were dropping with broader U.S. markets. The NYSE Financial Sector Index fell nearly 0.9% while financial companies in the S&P 500 Index were falling almost 1.0%. The Philadelphia Housing Sector Index was slipping just more than 0.2%.

Among financial stocks moving on news:

- Royal Bank Of Canada ( RY ) was posting a more than 2% retreat on Thursday although the company reported fiscal Q2 net income topping Wall Street and Bay Street estimates. The bank earned CAD2.06 per share, or about $1.60 per share, during the three months ended April 30 and beating the Capital IQ consensus by CAD0.05 per share. Separately, the company declared a CAD0.94 per share quarterly dividend, unchanged from its most recent distribution to shareholders and payable August 24 to investors of record on July 26.

In other sector news:

- Toronto-Dominion Bank ( TD ) has turned slightly lower Thursday afternoon, reversing a more than 1% gain earlier in the session, Canada's second largest bank, as measured by deposits, reported improved fiscal Q2 financial results also beating analyst projections. Excluding one-time items, the bank earned CAD1.62 per share, or $2.08 per share, during the three months ended April 30, up from CAD1.34 per share during the year-ago period and exceeding the Capital IQ consensus by CAD0.12 per share. Revenue rose to CAD9.47 billion from CAD8.47 billion, also topping CAD8.8 billion analyst mean.

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: RY , TD

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