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Financial Sector Update for 11/01/2017: WRLD,FRBA,ITG


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Top Financial Stocks

JPM +0.23%

BAC +0.15%

WFC +0.50%

C +0.64%

USB -0.09%

Financial stocks were narrowly on the plus side today, with the NYSE Financial Sector Index edging almost 0.2% higher and financial companies in the S&P 500 Index climbing just over 0.2%.

In company news, World Acceptance Corp ( WRLD ) slumped Wednesday, dropping to a session low of $77.41 a share, after the specialty lender Wednesday missed Q3 earnings expectations by a wide margin.

Net income during the three months ended Sept. 30 dropped to $1.10 per share from $1.76 per share during the year-ago period and missing the $1.67 per share profit analysts were modeling. Total revenue rose 1.3% over the same quarter last year to $131 million, just slipping past the analyst mean expectation of $130.2 million.

In other sector news,

(+) FRBA, (+1.6%) Raised to Buy from Hold at Sandler O'Neill

(-) ITG, (-14.3%) Excluding a $1.28 per share non-cash charge and $0.03 per share for write-downs and legal fees, reports a $0.11 per share adjusted Q3 net loss, missing the three-analyst consensus looking for a $0.04 per share non-GAAP profit. Revenue rose to $114.5 million from $104.2 million last year, topping the $113.3 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: WRLD , FRBA , ITG



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