Markets

Financial Sector Update for 12/16/2016: NYMT,VRTS,PN

Top Financial Stocks

JPM -1.07%

BAC -1.55%

WFC -0.27%

C -0.63%

USB -0.44%

Financial stocks were falling during Friday trading, with the NYSE Financial Sector Index sinking about 0.3% while financial companies in the S&P 500 Index were posting a 0.7% decrease.

In company news, shares of New York Mortgage Trust ( NYMT ) rose Friday after the real estate investment trust last night said it will distribute a $0.24 per share quarterly dividend for the three months ending Dec. 31, unchanged from the prior quarter.

The next dividend will be payable Jan. 26, 2017, to shareholders of record on Dec. 27.

NYMT shares were up about 3.7% at $6.75 apiece, staying within relatively close range of its session high today of $5.80 a share.

In other sector news,

(+) VRTS, (+1.0%) Acquire RidgeWorth Investments - a privately held boutique asset manager with $40.2 bln under management - for $513 mln. Transaction is expected to immediately boost VRTS adjusted per-share earnings.

(-) PN, (-5.6%) The Court of Chancery of the State of Delaware issues stipulated order barring the company from paying a special dividend next month or buying back its stock under its share-repurchase program ahead of an upcoming hearing on a preliminary injunction in a class-action lawsuit against PN by Henry Wasik.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story

NYMT VRTS

Other Topics

Banking

Latest Markets Videos