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CTO

Financial Sector Update for 12/23/2015: CTO,SLF,RJF

Top Financial Stocks

JPM +1.25%

BAC +1.11%

WFC +0.97%

C +0.60%

USB +1.55%

Financial stocks were extending their earlier gains this afternoon, with the NYSE Financial Sector Index advancing around 1.1% and the S&P Financial 100 Index climbing almost 1.0%.

In company news, shares of Consolidated Tomoka Land Co. ( CTO ) were unchanged Wednesday, giving back fractional gains that earlier followed the real estate investment trust saying it recently completed its $8 million stock buyback program and has now authorized a new repurchase program for up to $10 million of its shares.

The company said it reacquired and then retired about $2.66 million of its stock since Sept. 30 under its previous authorization begun in 2008. In a related move, Consolidated Tomoka last night said it has amended its credit facility to allow for the new stock buyback program.

CTO shares were up steady at $53.00 each in recent trade, easing from an earlier run to $53.85 a share.

In other sector news,

(+) SLF, (+2.1%) Upgrade to Buy from Hold at Argus, which also set a $37 price target for the company's stock.

(-) RJF, (-1.5%) Total securities commissions and fees drop 7% during November from prior month and little changed from year-ago levels at $269 mln.

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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