Top Financial Stocks
Financial stocks again were getting bruised Tuesday as U.S. markets extended their decline and the Federal Open Markets Committee began two days of interest-rate talks. The NYSE Financial Sector Index was dropping about 0.4% while financial companies in the S&P 500 Index were sinking almost 0.8% this afternoon.
In company news, BofI Holding Inc. ( BOFI ) rose to a 15-month high on Tuesday after the bank holding company reported fiscal Q2 net income and revenue topping Wall Street expectations.
Earnings attributable to common shareholders rose 14.8% over the same quarter last year to $32.2 million, or $0.50 per share, beating the Capital IQ consensus by $0.02 per share.
Revenue, as measured by a combination of net interest income and non-interest income, grew about 17.3% to $93.1 million during the three months ended Dec. 31 over $79.4 million in revenue last year and exceeding the analyst mean expecting $90.23 million.
BOFI shares were up slightly over 1% at $28.80 apiece, trading higher again this afternoon following a drop for the stock from its best price since October 2015 at $30.60 a share soon after today's opening bell only to quickly lose all of those gains and fall to $28.29 a share, a penny under today's break-even mark.
In other sector news,
(+) ALLY, (+4.7%) Adjusted Q4 EPS of $0.54 exceeds Capital IQ consensus by $0.06 per share. Revenue climbs 2.4% over last year to $1.38 bln, also beating the $1.36 bln consensus.
(-) HTLF, (-2.2%) Reports in-line Q4 net income of $0.74 per share. Net interest income jumps 20% over year-ago levels to $75.2 mln.
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