Top Financial Stocks
Financial stocks were moderately lower in afternoon trading, including a more than 0.4% drop for the NYSE Financial Index while shares of financial companies in the S&P 500 were falling almost 0.6%. The Philadelphia Housing Index was falling just over 0.4%.
Among financial stocks moving on news:
(+) Banco Macro SA ( BMA ) was surging Thursday, climbing at one point as much as 13%, after the Argentine bank company disclosed in a regulatory filing it recently re-purchased 704,654 of its Class B common shares, paying just under $2.8 million (106,170,542 pesos) overall, or about $3.97 (150.67 pesos) per share.
In other sector news:
(+) Monroe Capital ( MRCC ) was narrowly higher in recent trading, swinging in tight range either side of its breakeven mark, after late Wednesday pricing a $60 million public offering of its 5.75% notes maturing in October 2023 at 100% of their principal amount. The specialty finance company is expecting to pocket around $57.7 million in net proceeds after paying underwriter discounts and other offering expenses, which it plans to use to invest in portfolio companies and other general corporate purposes.
(-) First Hawaiian ( FHB ) was down almost 1% Thursday afternoon, extending its session-long decline that followed the bank holding company pricing a secondary offering of 20 million shares of its common stock previously held by affiliates of BNP Paribas for gross proceeds of $577 million. First Hawaiian did not receive any proceeds from the offering.
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