Markets

Financial Sector Update for 01/22/2016: RBCAA, FFBC

Top Financial Shares:

JPM: +1.6%

BAC: +1.5%

WFC: +1.5%

C: +1.6%

USB: +1.4%

Financial shares were mainly higher during the pre-bell trading session on Friday as global oil prices rallied following comments made by the head of the European Central Bank (ECB), Mario Draghi, on Thursday which appeared to hint at the possibility of the ECB increasing its stimulus measures in the shared currency union later this year.

In financial stocks news, Republic Bancorp ( RBCAA ), the holding company for Republic Bank & Trust Company, on Friday reported a 42% increase in quarterly net income as revenues grew.

Shares in the company were unchanged at $23.53 pre-bell. The company has traded between $22.75 and $27.56 over the past 52 weeks.

And First Financial Bancorp ( FFBC ) reported Q4 net income of $19.8 million, or $0.32 per diluted common share, compared to net income of $18.6 million, or $0.30 per share for the same period last year. This fell just shy of the consensus analyst estimate of $0.33 per share.

Shares in the company were unchanged at $15.61 pre-bell. The company has traded between $15.44 and $21.00 over the past 52 weeks.

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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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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