Top Financial Stocks
Financial stocks were mixed in late afternoon trading, including a less than 0.1% decline for the NYSE Financial Index, reversing a small gain earlier in the session, while shares of financial companies in the S&P 500 climbed almost 0.1%. The Philadelphia Housing Index also rose slightly more than 0.1%.
Among financial stocks moving on news:
(-) County Bancorp ( ICBK ) was up 2% after the bank holding company reported an increase in Q4 total revenue to $13 million from $12.2 million during the final three months of 2017, beating the $12.7 million Capital IQ consensus.
In other sector news:
(+) Colony Capital ( CLNY ) rose over 3% on Monday after the asset manager agreed to form a special board committee that will evaluate and recommend potential changes to the company's business structure and its strategic assets. Two of the five members of the panel will be new independent directors named Monday through a cooperation agreement with Blackwell Capital LLC, Colony said, adding it and Blackwell will soon jointly name one more independent director to the board for a total of 13 members.
(+) Kemper ( KMPR ) was higher this afternoon, rising over 2% after i t report ed Q4 adjusted earnings of $0.91 per share, up from $0.60 in the same period a year ago and topping the Capital IQ consensus expecting $0.79 per share.
(-) Loews ( L ) dropped 6% after the insurance company swung to a Q4 net loss of $0.53 per share, reversing a $1.43 per share profit during the final three months of 2017 for the life and property and casualty insurance carrier.
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