Markets

Financial Sector Update for 09/09/2016: SVBI

Top Financial Shares:

JPM: -0.4%

BAC: +0.1%

WFC: -0.7%

C: +0.2%

USB: flat

Financial shares were mixed in pre-market trade on Friday.

In financial stocks news, Severn Bancorp Inc ( SVBI ), the parent company of Severn Savings Bank, said it redeemed the remaining portion of 23,393 shares of preferred stock it sold in 2008 to the U.S. Department of Treasury -- TARP Shares -- and which are now owned by third parties.

Shares in Severn Bancorp were flat at $6.70 pre-bell. The stock has traded between $4.65 and $6.85 over the past 52 weeks.

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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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