Markets
SRC

Financial Sector Update for 12/15/2015: SRC, CNOB, FSFR

Top Financial Shares:

JPM: +0.6%

BAC: +0.8%

WFC: +1.2%

C: +0.9%

USB: flat

Financial shares were mainly higher in pre-market trade Thursday as traders waited for the Federal Reserve's highly anticipated December rate-setting two-day meeting to commence. With stellar jobs reports published in recent months, sentiment is bullish for a rate rise to be announced.

Also out on Tuesday is the publication of the latest monthly consumer price index data.

In financial stocks news, real estate investment trust Spirit Realty Capital ( SRC ) said Tuesday that it will pay a quarterly dividend on its common stock of $0.175 per share on January 15 to shareholders of record on December 31. The trust increased its dividend rate by 3% from the $0.17 per share paid for the previous quarter.

Shares were inactive pre-bell at $9.79, near the low end of the 52-week range of $8.89 - $13.00.

ConnectOne Bancorp ( CNOB ) shares were initiated by Maxim with a buy rating and price target of $23 per share.

Shares were unchanged at $17.82 pre-bell. This is also close to the stock's 52 week trading range between $17.32 and $22.55.

And Fifth Street Senior Floating Rate Corp. ( FSFR ), a management investment company, reported late Monday a year-over-year decline in Q4 2015 earnings on higher revenues versus the comparable period in 2014.

Shares were also inactive pre-bell at $7.44. This is within the lower band of the stock's 52 week trading range between $7.34 and $11.10.

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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