Markets

Financial Sector Update for 09/30/2015: NRF,BKCC,TBBK

Highs and Lows Stock Data

Top Financial Stocks

JPM +0.52%

BAC -0.10%

WFC -0.29%

C -0.13%

USB +0.32%

Financial stocks were paring some of their earlier gains, with the NYSE Financial Sector Index rising nearly 0.6% in recent trade and the S&P Financial 100 Index climbing almost 0.5%.

In company news, Northstar Realty Finance Corp. ( NRF ) advanced Wednesday after the real estate investment trust late yesterday authorized a new stock buyback program seeking to repurchase up to $500 million of its outstanding shares.

Based on the company's 355.2 million shares and the stock's $11.83 closing price on Tuesday, the new program would acquire and retire around 42.3 million shares, or about 8.4% of its current outstanding shares.

NRF shares were up more than 3% at $12.22 apiece, earlier advancing to a session high of $2.32 a share.

In other sector news,

(+) BKCC, (+5.9%) DA Davidson begins analyst coverage with Buy recommendation and a $64 price target.

(-) TBBK, (-9.4%) Updates Q2 market call, saying total loans in its continuing operations up 31% to $1.25 billion, but adding loan growth is affecting earnings. Expects pre-tax earnings of $16.7 million after fees tied to BSA and restatement.

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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