Financial Sector Update for 12/12/2016: HTBI,CATM,PFMT

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Top Financial Stocks

JPM -1.20%

BAC -2.05%

WFC -2.27%

C -1.22%

USB -0.75%

Financial stocks were sharply lower today, with the NYSE Financial Sector Index sinking nearly 0.9% while financial companies in the S&P 500 Index were dropping just under 1.0% this afternoon.

In company news, HomeTrust Bank ( HTBI ) still was edging higher today after earlier reaching a new, all-time high following its deal to acquire specialty lender United Financial of North Carolina for an undisclosed amount.

United Financial provides financing for fire departments and municipalities seeking to buy fire trucks and related equipment as well as funding the construction of fire stations and other municipal buildings throughout North and South Carolina and other states in the southeastern United States, originating the municipal leases and then selling them to HomeTrust or other financial institutions.

Starting Jan. 1, 2017, United Financial will operate as United Financial, a division of HomeTrust Bank.

HTBI shares recently were up about 0.2% at $25.60 apiece after earlier reaching a best-ever $26.00 a share.

In other sector news,

(+) CATM, (+1.1%) United Pacific taps company as its exclusive provider of ATM services at its 300-plus gas stations and convenience store locations.

(-) PFMT, (-43.9%) U.S. Department of Education declines to name the company as one of its contractors. The company said it may protest "surprising and disappointing" decision.

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: HTBI , CATM , PFMT

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