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Financial Sector Update for 03/07/2019: OZM,HRB,FITB,MBFI

Top Financial Stocks

JPM -0.71%

BAC -0.97%

WFC -0.27%

C -0.89%

USB -0.65%

Financial stocks were declining in afternoon trading, including a 0.7% retreat for the NYSE Financial Index while shares of financial companies in the S&P 500 were falling 1%. The Philadelphia Housing Index was rising 0.6%.

Among financial stocks moving on news:

(+) Och-Ziff Capital Management Group ( OZM ) rose about 4% after Thursday declaring a $0.23 per share Q4 dividend, up 15% from its most recent distribution of $0.20 per share on split-adjusted basis and payable March 29 to shareholders of record on March 22.

In other sector news:

(+) H&R Block ( HRB ) was more than 3% higher after the tax preparation chain reported fiscal Q3 revenue of $468.4 million, slipping 4.1% from the same quarter last year but still beating the Capital IQ consensus excepting $465.5 million for the three months ended Jan. 31.

(+) Fifth Third ( FITB ) was fractionally higher Thursday after the Federal Reserve approved its proposed acquisition of MB Financial ( MBFI ). The companies said they have received all the regulatory approvals needed for the transaction to close. The banks are expecting to complete the deal on March 22.

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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