Financial Sector Update for 06/01/2017: IBKR, FDC, BANFP

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Financial stocks continued to rise this afternoon, with the NYSE Financial Sector Index adding nearly 0.7% in value while financial companies in the S&P 500 Index were rising over 1.0%.

In company news, Interactive Brokers ( IBKR ) was moderately higher in late Thursday trading after the online financial services company today reported 675,000 daily average revenue trades during May, up 5% over the prior-year period.

The company also finished the month with $103 billion in client equity, rising about 4% over the end of April and jumping out to a 42% gain over May 2016 levels. Client margin loan balances totaled $22.4 billion in May, climbing 3% from the prior month and up 48% year over year.

Overall, it finished last month with 418,000 client accounts, up 2% over April and 19% higher than May 2016.

In other sector news,

(+) FDC, Stifel resumes analyst coverage with a Buy investment rating and a $20 price target.

(-) BANF, Approves 2-for-1 stock split, which will be payable in the form of a dividend on July 31.

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: IBKR , FDC , BANFP

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