This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Tuesday's Financial Winners & Losers

AmeriServ Financial (ASRV - Get Report) slipped despite reporting a year-over-year increase in second-quarter profits. The bank holding company had quarterly earnings of $568,000, or 3 cents a share, compared with $370,000 and 2 cents a share a year ago. Shares of AmeriServ were down 12 cents, or 2.4%, at $4.80.

Macatawa Bank (MCBC - Get Report) rose after it posted second-quarter net income of $5.76 million, or 35 cents a share, up from $5.26 million, or 32 cents a share, last year. Macatawa, the parent company of Macatawa Bank and Macatawa Investment Services, saw its shares jump $1.82, or 8.6%, to $23.

Community Trust Bancorp (CTBI - Get Report) said its second-quarter profit rose to $9.9 million, or 65 cents a share, from $8.5 million, or 56 cents a share, a year ago. Analysts surveyed by Thomson Financial were looking for a bottom line of 61 cents. Community Trust Bancorp, a provider of banking services in Kentucky and West Virginia, was up 59 cents, or 1.7%, at $35.42.

State Street (STT - Get Report) edged higher following its latest quarterly report in which the company earned 68 cents a share, including noncash tax charges of 25 cents. Excluding the charges, earnings for the second quarter were 93 cents, topping estimates by 10 cents. Revenue advanced 21% from a year ago to $1.7 billion, the investment management company said.

"The potential effect of higher short-term interest rates in the U.S. in the second half of the year poses a challenge for us," State Street said. "As in past years, we may experience seasonal weakness in certain market-driven revenues in the third quarter. However, excluding the second-quarter tax charges, the strength in the first half of the year increases our confidence that we will achieve at the high end of the ranges we established for the full year." State Street's shares were up 44 cents, or 0.8%, to $56.34.

MGIC Investment (MTG - Get Report) was under pressure after the company said its second-quarter earnings fell to $149.8 million from $174.4 million for the same quarter a year ago. On a per-share basis, earnings of $1.74 beat the consensus estimate by 1 cent.

Total revenue fell 8% to $363.5 million, mainly because of a 5.5% decrease in net premiums earned. MGIC Investment, a provider of private mortgage insurance coverage, was losing $2.08, or 3.4%, to $59.99.

Coast Financial Holdings (CFHI), the parent company of Coast Bank of Florida, said the company and Brian Peters, its president and CEO, have agreed to terminate their relationship. Coast said it will make all the termination payments required under his employment agreement, and it extended the exercise period for his stock options that are outstanding. Shares of Coast fell 15 cents, or 0.9%, to $15.75.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
ASRV $3.42 0.88%
CTBI $34.97 -0.11%
MCBC $5.37 -0.74%
MTG $11.04 -0.27%
STT $76.70 0.18%

Markets

Chart of I:DJI
DOW 17,521.06 -168.80 -0.95%
S&P 500 2,087.94 -15.90 -0.76%
NASDAQ 5,084.52 -43.7610 -0.85%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs