Markets

Financial Sector Update for 10/20/2015: ASRV,ONE,FCFS

Top Financial Stocks

JPM +0.76%

BAC +0.53%

WFC +0.91%

C +0.32%

USB +1.57%

Financial stocks were moderately higher today, with the NYSE Financial Sector Index rising about 0.2% and the S&P Financial 100 Index climbing almost 0.4%.

In company news, shares of AmeriServ Financial ( ASRV ) rose Tuesday after the bank holding company reported a big jump in Q3 earnings compared with the same quarter last as net interest income also continued to grow.

Net income available to common shareholders during the three months ended Sept. 30 was $1.78 million, or $0.09 per share, improving on a $312,000 profit and earnings of $0.02 per share last year.

Net interest income increased 7.5% over year-ago levels to $10.52 million while net interest margin for the first nine months of 2015 climbed by 4 basis points compared the January-to-September span last year to 3.52%. No analyst estimates were available for comparison.

The bank today also declared a $0.01 per share dividend, payable Nov. 16 to shareholders of record on Nov. 2.

ASRV shares were up almost 4% at $3.28 apiece, easing from a session high of $3.39 a share.

In other sector news,

(+) ONE, (+33.3%) Sells its Campus Labs data analytics business to Leeds Equity Partners, for $91 million in cash.

(-) FCFS, (-10.6%) Adjusted Q3 EPS of $0.59 lags Street view by $0.02 per share. Revenue falls 3.1% from last year to $169.5 million, missing the $176 million Capital IQ consensus. Lowers FY15 earnings forecast at least $0.10 under $2.50 per share consensus.

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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