Markets

Financial Sector Update for 07/07/2016: PNC,EZPW,IRET

Top Financial Stocks

JPM +0.53%

BAC +0.89%

WFC +0.29%

C +0.58%

USB +0.09%

Financial stocks were ending moderately mixed, with the NYSE Financial Sector Index slipping 0.3% while financial companies in the S&P 500 Index were rising about 0.4%.

In company news, PNC Financial Services Group ( PNC ) turned slightly higher late Thursday after the bank holding company increased its upcoming dividend by 8% over its previous distribution to shareholders to $0.55 a share.

The increased dividend will be paid on Aug. 5 to shareholders of record on July 18.

PNC shares were down less than 0.1% at $79.41 apiece, turning south throughout much of this afternoon after trading as high as $80.48 a share earlier today.

In other sector news,

(+) EZPW, Sells 94% stake in Prestaciones Finmart, a consumer lender also known as Grupo Finmart, to Alpha Holding for about $47 mln, subject to closing adjustments that could pare EZPW's closing proceeds by up to $10 mln.

(-) IRET, Cut to Neutral from Outperform at Robert W. Baird, which also trimmed its price target for the stock by $1 to $7 a share.

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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