Top Financial Stocks
Financial stocks were starting to extend smaller gains from earlier in today's session, with the NYSE Financial Sector Index rising about 0.4% and the S&P Financial 100 Index climbing about 0.6%.
In company news, TICC Capital Corp. ( TICC ) shares were higher Monday after the specialty lender said it has begun a buyback program for up to $75 million of its common stock, including up to $25 million in open-market purchases and up to $50 million through pre-arranged stock buybacks of management shares.
TICC said it already had repurchased over $20 million of its stock through last Friday, Dec. 18, adding it also continue to buy back addition shares on the open market.
TICC also has scheduled a special shareholders' meeting on Tuesday for investors to vote on a proposed buyout offer by Benefit Street Partners as well as a six-member board slate supported by company management and Benefit Street.
TICC shares were up almost 1% this afternoon at $6.02 each, earlier climbing as high as $6.24 a share soon after today's opening bell.
In other sector news,
(+) WIBC, (+6.5%) Raised to Outperform from Market Perform at Keefe Bruyette. Hanmi Financial ( HAFC ) drops acquisition bid for BBCN Bancorp ( BBCN ) following revised agreement between WIBC and BBCN.
(-) BBVA, (-2.1%) Ruling Parti Popular loses parliamentary majority in national general elections but still held a plurality, creating uncertainity until a ruling coalition is formed.
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