Financial Sector Update for 11/06/2018: IBKC,TRI,BHF

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Top Financial Stocks

JPM +0.02%

BAC -0.06%

WFC -0.24%

C -1.08%

USB +0.31%

Financial stocks were edging higher this afternoon, including a nearly 0.2% rise for the NYSE Financial Index while shares of financial companies in the S&P 500 were climbing almost 0.1%. The Philadelphia Housing Index was posting a 0.03% advance.

Among financial stocks moving on news:

(+) Iberiabank ( IBKC ) was hanging on to a 1% advance after the bank holding company disclosed plans to repurchase up to 2.8 million shares of its common stock, or 5% of its public float

In other sector news:

(+) Thomson Reuters ( TRI ) has ground out a 4% gain during Tuesday trading after the financial-data company reported adjusted Q3 net income of $0.11 per share, down from $0.27 per share during the year-ago period but still topping the the Capital IQ consensus expecting a $0.03 per share non-GAAP profit. Revenue increased 2% year over year to $1.29 billion from $1.27 billion, narrowly missing the $1.31 billion Street view.

(-) Brighthouse Financial ( BHF ) climbed 3%. B of A/Merrill Lynch lowered its price target for the life insurance company by $2 to $45 per share. The brokerage also reiterated its neutral rating for the company's stock.

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: IBKC , TRI , BHF

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