Top Financial Stocks
Financial stocks were declining in afternoon trading, including a 0.6% drop for the NYSE Financial Index, while shares of financial companies in the S&P 500 were falling 0.4%. The Philadelphia Housing Index was slipping nearly 1%.
Among financial stocks moving on news:
(-) Banco Macro ( BMA ) was 1.5% lower Friday afternoon, giving back a small gain previously in the session. The board of directors at the Argentina-based banking and financial services company authorized a new stock buyback program of up to ARS900 million, or about $23.7 million, of its common shares.
(-) LendingTree ( TREE ) was slipping Friday, falling 5%, after the specialty lender announced a definitive agreement to acquire Value Holding Inc., the parent company of the personal finance website ValuePenguin.com, for $105 million to be paid in cash at closing, subject to certain adjustments.
(-) OceanFirst Financial ( OCFC ) was slightly lower this afternoon, giving back a prior 3% gain after Boenning & Scattergood Friday began coverage of the thrift with an outperform rating.
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