Top Financial Stocks
Financial stocks were broadly lower Friday, with the NYSE Financial Sector Index sinking 1.3% and the S&P Financial 100 Index retreating nearly 1.7%.
In company news, shares of Hannon Armstrong Sustainable Infrastructure Capital Inc. ( HASI ) were rising Friday after analysts at FBR Capital today began analyst coverage of the real estate investment trust with an Outperform investment rating and a $24 price target.
The move follows Hannon Armstrong late yesterday announcing an agreement with the Connecticut Green Bank providing it with up to $100 million in funding for energy efficiency, solar and other commercial-scale green energy projects.
HASI shares are up nearly 3% at $18.62 each, earlier topping out today at $19.00 a share.
In other sector news,
(+) JRJC, (+2.5%) Receives $24 mln from its investment in the Langfang real estate project, including $21.7 mln in recovered principal.
(-) IRET, (-4.1%) Reduced to Hold from Buy at Wunderlich, which also cut its price target for the stock by $1.50 to $7.50 a share.
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