The US financial sector trimmed their initial rally and ended below the trend line for a third straight session on Wednesday as rich assessments for few shares hurt traders’ sentiment.
The Financial stocks got support from existing-home sales whose results topped experts estimations.
The news gave a boost for huge banks with large mortgage operations like Bank of America Corp. (NYSE:BAC), which moved up 0.7%.
The KBW Bank Index (BKX), which records the 24 major US banks, gained 0.5%. The Financial Select Sector SPDR ETF (XLF), which records the financial stocks in the S&P 500 Index SPX, moved down 0.1%.
The top gainer of the sector was Regions Financial Corporation (NYSE:RF), which moved up +5.08% with the closing price of $7.65. The overall volume in the last trading session was 43.64 million shares. Its fifty two week range was $2.82-$7.73. The total market capitalization remained $10.81 billion.
RF is ahead of its 52 week low 172.99% and its last month price volatility remained 2.51%. Its beta coefficient was 1.52 with a target price of $7.71. RF has institutional ownership remaining at 69.62%. The Company’s current year earnings per share grew 96.48% while the five year EPS growth rate was -24.42%.
In the last trading session, American International Group, Inc. (NYSE:AIG) reported the loss of -0.41% to close at $34.26 and its overall traded volume was 19.65 million.
AIG has earnings per share of $11.31 with the net profit margin of 33.24% and operating margin of 7.37%.
JPMorgan Chase & Co. (NYSE:JPM) surged +0.19% and closed at $41.34 in the last trading session. The overall traded volume was 22.89 million shares. Stock price 52 weeks high was $46.49 and 52 weeks low price was $27.85.
In its share capital, JPM has 3.80 billion outstanding shares while 3.78 billion shares have been floated in the market. The Company’s current year earnings per share grew 13.05% while the five year EPS growth rate was +3.26%.