Financial Sector Update for 09/09/2019: LYG, FNF, STC, PNFP, JPM, BAC, WFC, C, USB

Top Financial Stocks:

JPM: +0.90%

BAC: +1.08%

WFC: +0.32%

C: +1.11%

USB: Flat

Leading financial stocks were rallying pre-market Monday.

In other sector news:

(-) Lloyds Banking Group (LYG) was slightly lower after it suspended its 2019 share buyback program citing uncertainty around the "final outcome" relating to Payment Protection Insurance (PPI) claims for which the lender needs to make an incremental charge of 1.2 billion pounds to 1.8 billion pounds ($1.48 billion - $2.21 billion) in its fiscal third quarter.

(=) Fidelity National Financial (FNF), a provider of title insurance and transaction services to the real estate and mortgage industries, said the Federal Trade Commission is seeking to block its previously announced merger with Stewart Information Services (STC). Both companies were unchanged in recent trading.

(=) Pinnacle Financial Partners (PNFP) was flat after it priced $300 million of 4.125% fixed-to-floating rate subordinated notes due 2029.

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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