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Financial Stocks Giving Back Small Portion of Day's Gain; Stifel Acquires Privately Held Asset Manager

Top Financial Stocks

JPM +3.07%

BAC +1.93%

WFC +1.26%

C +3.62%

USB +0.72%

Financial stocks are higher with the NYSE Financial Sector Index advancing 1.5% while the S&P Financial 100 Index is more than 1.8% higher this afternoon.

In company news, Stifel Financial ( SF ) is up 1.7% at $40.26 a share after today agreeing to acquire Ziegler Lotsoff Capital Management, LLC, an asset management business with offices in Chicago and Milwaukee.

Financial terms of the deal were not announced. A Q4 closing is expected.

In other sector news,

(+) BAC, Earns $0.20 per share in Q3, topping analyst forecasts by $0.01. Revenue slips 1.3% from year-ago levels to $2.22 bln but still largely matches Street estimates looking for $2.2 bln.

(-) KINS, Files registration statement for a $15-mln public offering of stock, with plans to use net proceeds to capitalize its Kingstone Insurance Co. subsidiary and repaying debt.

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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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