Top Financial Stocks
Financial stocks declined in afternoon trading, including a more than 0.3% slide for the NYSE Financial Index while shares of financial companies in the S&P 500 were falling almost 0.5%. The Philadelphia Housing Index was rising over 1.7%.
Among financial stocks moving on news:
(+) Diamondrock Hospitality ( DRH ) was hanging on for a fractional gain late in Thursday trading after the real estate investment trust said it sees non-GAAP Q4 funds from operations of $0.25 per share, beating the Capital IQ consensus for the three months ended Dec. 31 by $0.01 per share. Projected Q4 revenue of $223.4 million also exceeds the $218.7 million Street view.
In other sector news:
(+) Apollo Global Management ( APO ) raced over 5% higher on Thursday after the private-equity investor authorized a $250 million increase in its stock buyback program. It also raised its quarterly dividend by 21.7% to $0.56 per share, adding $0.10 per share to its most recent distribution to investors.
(+) UMB Financial ( UMBF ) rose more than 1% on Thursday after Raymond James raised its investment recommendation for the bank holding company to outperform from market perform previously and also establishing a $70 price target for the company's stock.
(+) American Financial Group ( AFG ) turned narrowly higher Thursday afternoon, reversing a small decline earlier in the session that followed the property and casualty insurer reporting core Q4 net income of $1.75 per share and missing the $1.95 per share Capital IQ consenus.
Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.