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Financial Sector Update for 08/14/2019: NXRT,MKTX,HTLF,QCRH


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Top Financial Stocks

JPM -4.06%

BAC -4.65%

WFC -3.66%

C -5.09%

USB -2.95%

Financial stocks were declining in afternoon trading, including a more than 2.5% drop for the NYSE Financial Index while shares of financial companies in the S&P 500 were falling almost 3.5%. The Philadelphia Housing Index was posting a more than 2.2% retreat.

Among financial stocks moving on news:

(-) NexPoint Residential Trust ( NXRT ) was 1.4% lower, giving back a prior gain, after the real estate investment trust raised its forecast for FY19 core funds from operations by $0.02 at the mid-point to $1.92 per share after agreeing to acquire a 1,520-unit multifamily property near Fort Lauderdale, Fla., and 346-unit multifamility property in Nashville, Tenn., for a combined $384.3 million.

In other sector news:

(-) MarketAxess Holdings ( MKTX ) was declining about 1% in afternoon trade. Deutsche Bank raised its price target on the electronic trading platform company by $4 to $336 a share while reiterating its hold investment recommendation.

(-) Heartland Financial USA ( HTLF ) fell 3% on Wednesday after saying its Illinois Bank & Trust subsidiary was acquiring substantially all of Rockford Bank and Trust from its QCR Holdings ( QCRH ) corporate parent for around $59.2 million in cash.

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: NXRT , MKTX , HTLF , QCRH



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