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AHT

Financial Sector Update for 06/14/2019: AHT,UBS,WHF

Top Financial Stocks

JPM -0.22%

BAC -0.11%

WFC -0.09%

C Flat

USB -0.34%

Financial stocks were declining in afternoon trading, including a 0.2% slide for the NYSE Financial Index while shares of financial companies in the S&P 500 also were falling over 0.1%. The Philadelphia Housing Index was rising more than 0.2%.

Among financial stocks moving on news:

(-) Ashford Hospitality Trust Inc (AHT) slid to a nine-year low during the session Friday, falling more than 19% to its lowest share price since January 2010 at $3.46 each after the real estate investment trust halved its quarterly dividend compared with its most recent distribution, declaring a $0.06 per share dividend payable July 15 to shareholders of record on June 28. AHT shares were down around 15% in the afternoon.

In other sector news:

(-) UBS Group (UBS) was down more than 1% after Reuters said a Chinese securities brokerage, Haitong International Securities Group Ltd, was severing ties with the banking giant after its chief global economist reportedly made a comment about "Chinese pigs" in a recent inflation analysis. Paul Donovan later apologized but that had no apparent effect on Haitong. Meanwhile, the Securities Association of China said in a statement Friday it wants members to blacklist the economist.

(-) WhiteHorse Finance (WHF) dropped almost 4% after the business development company Friday priced a $32.9 million secondary offering of 2.35 million common shares previously held by funds affiliated with H.I.G. Capital at $14 apiece, marking a 3.4% discount to Thurday's closing price.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story

AHT UBS WHF

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