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JOE

Financial Sector Update for 09/28/2015: JOE, AFSI

Top Financial Shares:

JPM: flat

BAC: flat

WFC: flat

C: -0.06%

USB: flat

Financial shares were steady into Monday's opening bell as investors were concerned over China's slowing economic growth.

In financial stocks news, St. Joe Company ( JOE ), a real estate development company, said it bought back about 17.8% of its stock after a tender offer that expired on September 22, paying about $294.3 million.

According to the final results, the company accepted for purchase 16,348,143 shares of its common stock at a purchase price of $18.00 per share.

AmTrust Financial Services ( AFSI ), an insurance holding company, said late Sunday that it has entered into an agreement to acquire Republic Companies and its affiliates from Delek Group Ltd, and Republic Insurance Holdings, for approximately $233 million in cash and debt securities, subject to certain adjustments. Shares closed 0.8% higher on Friday, September 25, above the midpoint of the 52-week range of $38.25 - $71.87.

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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