This Day On The Street
Continue to site right-arrow
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
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Wells Fargo: Financial Losers

NEW YORK ( TheStreet) -- Financial stocks retreated on Friday, taking a page out of the broader market, which was falling on concerns that China was looking to slow its economic growth.

There were few winners in the financial sector Friday. The Financial Select Sector SPDR (XLF) slumped 1.7% to $14.93.

Shares of the biggest four U.S. banks -- Bank of America (BAC), Citigroup (C - Get Report), JPMorgan Chase (JPM - Get Report) and Wells Fargo (WFC) - fell between 1% and 3%. Wells Fargo's shares were dipping 2.7% to $27.55 at last check.

News reports came out that Bank of America had sold some of its BlackRock (BLK) stake to Mizuho Financial (MFG).

Regional banks were faring even worse with Regions Financial (RF - Get Report), Huntington Bancshares (HBAN), Fifth Third Bancorp (FITB)and SunTrust Banks (STI - Get Report), among the worst performers.

Cullen/Frost (CFR - Get Report) shares were falling 1.3% to $54.55 despite Moody's Investors Services upgrading its outlook on the Texas bank to stable from negative. Moody's said in a report that Cullen/Frost's "strong asset quality results from the company's solid underwriting as well as the bank's portfolio being located in Texas, where the real estate market has performed better relative to other states."

Outperformers of the day included tax service providers. H&R Block (HRB - Get Report) shares and Jackson Hewitt (JTX) shares were rising 2.1% and 1%, respectively.

--Written by Laurie Kulikowski in New York.



To contact the writer of this article, click here: Laurie Kulikowski.

To submit a news tip, send an email to: tips@thestreet.com.

Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.

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
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

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
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
C $54.00 0.81%
CFR $70.24 2.90%
JPM $62.70 1.10%
HRB $32.26 0.80%
RF $9.94 2.50%

Markets

DOW 18,070.34 -65.38 -0.36%
S&P 500 2,093.02 -8.02 -0.38%
NASDAQ 4,972.8440 -9.9650 -0.20%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs