Top Financial Stocks:
Financial stocks closed softer in Tuesday trading, including a 0.4% dip for the NYSE Financial Index while shares of financial companies in the S&P 500 were falling about 0.8%. The Philadelphia Housing Index (^HGX) was also down 0.6% today.
Among financial stocks moving on news:
(-) Bank Of Montreal (BMO) was down 4% after it reported an adjusted EPS of CAD2.38 ($1.80) for the three months ended July 31, higher than CAD2.36 a year ago but below the consensus estimate of CAD2.49 from a Capital IQ survey of analysts.
In other sector news:
(-) JPMorgan Chase (JPM) was 1.1% lower after Bloomberg reported that the bank is mulling the sale of a credit-card portfolio, which would include about $1 billion in credit-card receivables.
(+) Saratoga Investment (SAR) was up 0.5% after the company raised its quarterly dividend to $0.56 per share, from $0.55 per share in the prior quarter.
(+) Eaton Vance (EV) was rising 3% after the investment management firm reported Q3 adjusted EPS of $0.90, compared with $0.82 a share for the year-ago period. That surpassed the $0.87 average estimate of analysts surveyed by Capital IQ.