Financial Sector Update for 06/26/2017: STOR,BRK.A,BRK.B,IBTX,PSA, BRK-A, BRK/A, BRK-B, BRK/B

Top Financial Stocks

JPM +0.39%

BAC +0.55%

WFC +1.07%

C +0.79%

USB +0.28%

Financial stocks were most higher in afternoon trade, with the NYSE Financial Sector Index climbing nearly 0.5% while financial companies in the S&P 500 Index adding over 0.4% in value today.

In company news, STORE Capital ( STOR ) raced to a big gain on Monday, topping out at $23.15 a share after today saying Berkshire Hathaway (BRK.A,BRK.B) purchased a 9.8% equity stake in the real estate investment trust.

The company issued 18.6 million of its shares to a subsidiary of the industrial and financial services conglomerate, which paid $20.25 per share - or almost $376.7 million overall - for the STORE Capital stock.

In other sector news,

(+) IBTX, (+5.5%) Sandler O'Neill raises investment rating to Buy from Hold and also setting a $70 price target for the stock.

(-) PSA, (-0.3%) Discloses plans to redeem all $460 mln of its depositary shares representing interests in its Series S, 5.90% cumulative preferred stock at $25 apiece plus any accrued and unpaid dividends.

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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