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.

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This article appears in: Investing , Banking and loans
Referenced Symbols: NXRT , MKTX , HTLF , QCRH

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