Top Financial Stocks
Financial stocks were declining in afternoon trading, including a more than 1.2% retreat for the NYSE Financial Index while shares of financial companies in the S&P 500 were falling about 1.9%. The Philadelphia Housing Index was dropping slightly more than 1.3%.
Among financial stocks moving on news:
(-) HomeStreet (HMST) was down 2% on Thursday after Blue Lion Capital called on the bank holding company to "fully engage with Dwight Capital" in sales talks for its Fannie Mae-delegated loan underwriting and servicing unit and also said HomeStreet should split the roles of chairman and CEO. Blue Lion has also nominated two director candidates for the HomeStreet board.
In other sector news:
(+) Toronto Dominion Bank (TD) was nearly 2% higher after Thursday reporting adjusted fiscal Q2 net income of CAD1.75 per share, up from CAD1.62 during the same quarter last year and beating the Capital IQ consensus by CAD0.07 per share. Revenue rose to CAD10.23 billion from CAD9.48 billion during the year-ago period and also topping the CAD9.46 analyst mean.
(-) Royal Bank of Canada (RY) fell almost 3% on Thursday. The Canadian bank company reported non-GAAP fiscal Q2 net income of CAD2.23 per share for the three months ended April 30 on CAD11.5 billion in revenue, beating the Capital IQ consensus looking for a CAD2.22 per share normalized profit on CAD10.76 billion in revenue.
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