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Financial Sector Update for 01/24/2017: UBSH,PPBI,EMG

Top Financial Stocks

JPM +1.25%

BAC +1.93%

WFC +1.04%

C +2.10%

USB +1.73%

Financial stocks were ending near their session higher Tuesday, with the NYSE Financial Sector Index adding about 0.9% in value today while financial companies in the S&P 500 Index was climbing nearly 1.4%.

In company news, Union Bankshares ( UBSH ) advanced Tuesday after the bank holding company today reported above-consensus Q4 earnings.

Net income for Union during the three months ended Dec. 31 was $0.48 per share, beating the Capital IQ consensus by $0.02 per share.

UBSH shares were up more than 5% in late trade at $35.62 apiece, staying within relatively close range of their session high of $35.71 a share.

In other sector news,

(+) PPBI, Q4 EPS of $0.43 improves on $0.37 per share profit during year-ago period and beats analyst mean by $0.02 per share. Revenue rises 40.8% over last year to $46.6 mln, also topping the $45.2 mln consensus.

(-) EMG, Discloses plan to voluntarily delist from the New York Stock Exchange and instead trade on the OTC Marketplace beginning early in February.

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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