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Financial Sector Update for 02/14/2017: TRU,ZAIS,PFLT

Top Financial Stocks

JPM +1.64%

BAC +2.76%

WFC +1.52%

C +1.58%

USB +0.67%

Financial stocks today have continued to lead the U.S. markets higher during the first of two days of Congressional testimony by Federal Reserve chair Janet Yellen, with the NYSE Financial Sector Index rising around 0.7% while financial companies in the S&P 500 Index were gaining nearly 1.2% today.

In company news, TransUnion ( TRU ) still was surging in late Tuesday trading after earlier reaching an all-time high following the financial data and analytics company breezing past analyst estimates with its Q4 results and forecasting Q1 and FY17 net income exceeding Wall Street projections.

The company earned $0.44 per share during the three months ended Dec. 31 after a 12.9% increase in revenue compared with year-ago levels to $435.9 million. Analysts, on average, were expecting Q4 per-share earnings of $0.36 on $427.26 million in revenue.

For the current quarter, the company is expecting net income in a range of $0.38 to $0.39 per share, topping the Capital IQ consensus by at least $0.03 per share. It also see revenue this quarter reaching between $440 million to $445 million, bridging the $441.68 million consensus.

For the 12 months ending next December, TransUnion is guiding FY17 net income of $1.71 to $1.76 per share, surpassing the Street view by at least $0.13 per share. It is projecting revenue in a range of $1.835 billion to $1.85 billion, also edging out the analyst mean by around $5 million.

TRU shares were up more than 9% at $37.35 apiece after earlier climbing to a best-ever $37.60 a share.

In other sector news,

(+) ZAIS, Board chairman and chief investment officer Christian Zugel says in a regulatory filing he owns over 1.13 mln ZAIS shares, equal to a 7.5% stake.

(-) PFLT, Prices $70.4 mln offering of 5 mln shares of common stock at $14.08 apiece, although the company's advisor - PennantPark Floating Rate Capital - pays 46 cents per share to underwriters to make up the difference between the actual $13.62 a share offering price.

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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