Quantcast

Financial Sector Update for 11/09/2018: FMBI,ESNT,MGI


Shutterstock photo

Top Financial Stocks

JPM -0.86%

BAC -1.00%

WFC -0.37%

C -2.57%

USB +0.06%

Financial stocks were declining in afternoon trading, including a 1% drop for the NYSE Financial Index, while shares of financial companies in the S&P 500 were also falling 1%. The Philadelphia Housing Index was falling 1%.

Among financial stocks moving on news:

(-) First Midwest Bancorp ( FMBI ) was nearly 2% lower this afternoon, after the bank holding company announced a deal to acquire Milwaukee-based Northern Oak Wealth Management, a privately held registered investment adviser with around $800 million of wealth assets under management. Financial terms of the proposed transaction, expected to close before the end of March 2019, were not disclosed.

In other sector news:

(-) Essent Group ( ESNT ) dropped 2.2% on Friday. The private mortgage insurance company reported Q3 net income of $1.18 per share, improving from $0.82 per share a year ago and also topping the Capital IQ consensus. Total revenue rose to $185 million from $150.2 million last year, also beating the $181.8 million analyst mean.

(-) Moneygram International ( MGI ) plunged 40% recently after the electronic transfers processing company said its Q3 revenue fell to $347.2 million from $397.8 million during the same quarter last year and trailed the Capital IQ consensus expecting $378.7 million. Excluding one-time items, Moneygram earned $0.24 per share, unchanged from the same quarter last year and beating the Street view by $0.08 per share.

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: FMBI , ESNT , MGI



More from MT Newswires

Subscribe






MT Newswires
Contributor:

MT Newswires

Market News, Commodities










Research Brokers before you trade

Want to trade FX?