Markets

Sector Update: Financial Shares Positioning Higher

Top Financial Shares:

JPM: flat

BAC: +0.32%

WFC: flat

C: +0.16%

USB: +1.09%

Financial shares were positioned higher in pre-market trade Monday ahead of home building data.

In financial stocks news, Main Street Capital ( MAIN ), an investment firm primarily focused on providing customized debt and equity financing to lower-middle-market companies, said it recently led a financing totaling $17.0 million of invested capital in Guerdon Enterprises to support the majority recapitalization of the off-site producer of large modular commercial and multi-family construction projects, with Main Street funding $13.6 million of the financing in the new portfolio investment.

Main Street said its portion of the financing included an $11.2 million first lien, senior secured term loan and a $2.4 million equity investment.

And, Bank of America ( BAC ) names Thomas K. Montag as the company's sole COO, while co-COO David Darnell moves to Florida and becomes vice chairman.

Darnell will continue overseeing global wealth and investment management, as well as business banking. BAC was up slightly in pre-market trade.

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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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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