Top Financial Stocks
JPM -2.18%
BAC -1.13%
WFC -0.34%
C -2.48%
USB -0.25%
Financial stocks declined in afternoon trading, including a more than 1.4% drop for the NYSE Financial Index while shares of financial companies in the S&P 500 were also falling about 1.4%. The Philadelphia Housing Index was off more than 2.1% ahead of the closing bell.
Among financial stocks moving on news:
(+) Fifth Third Bancorp ( FITB ) rose about 2% on Tuesday after reporting Q4 net income and revenue topping year-ago comparisons and Wall Street expectations. The bank holding company earned $0.69 per share during the three months ended Dec. 31 on $1.66 billion in revenue. Analysts, on average, had been expecting a $0.67 per share non-GAAP profit on $1.65 billion in revenue.
In other sector news:
(-) Regions Financial ( RF ) was 1.5% lower again late Tuesday afternoon, giving back a small mid-day gain supported by analysts at Wedbush raising their price target for the bank holding company by $2 to $17 a share. They also reiterated their outperform rating for the company's stock.
(-) Mastercard ( MA ) was almost 2% lower on Tuesday after the credit card issuer received a EUR570.6 million fine from the European Commission for what was described as "limiting the possibility for merchants to benefit from better conditions offered by banks established elsewhere" throughout the common market.
(-) UBS Group AG ( UBS ) slid nearly 5% lower on Tuesday after reporting Q4 net income of $0.18 per share during the three months ended Dec. 31, reversing a $0.65 per share net loss during the same quarter last year but still trailing the Factset consensus call by $0.08 per share. Net interest income dropped 13% year over year.
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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.
