Markets

Financial Sector Update for 01/31/2017: PBHC,ALLY,HTLF

Top Financial Stocks

JPM -1.66%

BAC -0.96%

WFC +0.39%

C -1.28%

USB -0.33%

Financial stocks improved from their mid-day lows but still fell Tuesday after the U.S. markets extended their decline and the Federal Open Markets Committee began two days of interest-rate talks. The NYSE Financial Sector Index dropped 0.3% while financial companies in the S&P 500 Index sank nearly 0.6%.

In company news, Pathfinder Bancorp ( PBHC ) shares rose to their best price in other two years on Tuesday after the the holding company reported improved Q4 earnings and revenues from the year-ago quarter.

The company earned $0.23 per share during the three months ended Dec. 31 compared with an $0.18 per share profit during the same quarter last year.

Q4 revenue rose about 6.7% over year-ago levels to $6.4 million from $6 million last year. Analyst estimates were not available for comparison.

PBHC shares were up nearly 3% in late trade at $14.40 apiece, retracing much of an earlier climb to their highest level since October 2014 at $14.49 a share earlier today.

In other sector news,

(+) ALLY, 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, Reports in-line Q4 net income of $0.74 per share. Net interest income jumps 20% over year-ago levels to $75.2 mln.

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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