Financial stocks were ending above their worst levels of the day with the NYSE Financial Sector Index dropping nearly 1.6% and the S&P Financial 100 Index retreating more than 2.1%.
In the financial sector OCN slid to a six-year low Wednesday after the mortgage-servicing firm said it was functioning to resolve a clash with regulators in California that threatens to end the company’s ability to operate in the state. Stock already had fallen almost 85% in price over the past year prior to Wednesday’s slide.
In financial sector Vanguard Dividend Appreciation ETF (NYSEARCA: VIG), Associated Banc Corp (NYSE:ASB), Gramercy Property Trust Inc (NYSE:GPT) & Bank of Montreal (USA) (NYSE:BMO) stock plunged.
The House passed a bill Wednesday to ease the landmark law reining in banks and Wall Street, advancing a key Republican priority more than six years after a financial crisis brought on the Great Recession. At the height of the financial crisis in late 2008, the government stepped in to rescue crippled banks — including the largest Wall Street institutions — with hundreds of billions of dollars in taxpayer money.
During the trading session:-
Vanguard Dividend Appreciation ETF (NYSEARCA:VIG), has the market capitalization of $20.99 B while its 261.72M shares were outstanding. The stock has a 52 week low of $ 69.60and a 52 week high of $ 82.53.
In the financial sector Associated Banc Corp (NYSE:ASB), down -1.66 percentage at $17.13 and its institutional ownership was 82.30%. Shares of the company were moving above its 20 days simple moving average with –5.59 % while its YTD performance was -8.05 %.
Shares of the Gramercy Property Trust Inc (NYSE:GPT), were above SMA 20 with 1.69 % and above SMA 50 with 10.55%. Stock volatility for the week was 1.82 while for the month it was shown at 2.19%. The stock’s institutional ownership stands at 51.00%.
Bank of Montreal (USA) (NYSE:BMO) has market capitalization of 41.00 billion. Stock volatility for the week was 2.29% while for the month it was shown at 1.74%. Traded down -1.25% at $63.08.
