Top Financial Stocks
Financial stocks were ending mostly lower, with the NYSE Financial Sector Index dropping about 0.3% and the S&P Financial 100 Index falling less than 0.1%.
In company news, Lake Shore Bancorp ( LSBK ) was hanging on to a narrow gain after the bank holding company late Friday announced a new stock buyback program for up to 117,701 of its common shares.
If fully implemented, the repurchase program would acquire and retire about 5% of its outstanding shares. The previous stock buyback was terminated after repurchasing 115,100 shares at an average cost of $11.82 each.
LSBK shares were up about 0.3% just before the closing bell at $13.45 each, down just a penny off its session high.
In other sector news,
(+) FXCM, Says talks with Leucadia continuing. Authorizes $130 mln stock buyback program, which has $65.8 mln remaining. Certain senior managers also indicate they may buy stock independent of the company.
(-) TICC, TPG Specialty Lending ( TSLX ) again urges investors reject proposed investment advisory agreement with Benefit Street Partners LLC at Dec. 22 shareholders meeting.
Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.