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3 Stocks Dragging The Financial Sector Downward

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

All three major indices are trading down today with the Dow Jones Industrial Average ( ^DJI) trading down 29 points (-0.2%) at 16,918 as of Monday, June 23, 2014, 1:00 PM ET. The NYSE advances/declines ratio sits at 1,480 issues advancing vs. 1,509 declining with 147 unchanged.

The Financial sector currently sits down 0.1% versus the S&P 500, which is down 0.1%. On the negative front, top decliners within the sector include Altisource Asset Management ( AAMC), down 22.2%, Nomura Holdings ( NMR), down 2.7%, Woori Finance Holdings ( WF), down 2.6%, National Bank of Greece ( NBG), down 2.3% and Royal Bank of Scotland Group (The ( RBS), down 1.7%. Top gainers within the sector include Corpbanca ( BCA), up 3.6%, NASDAQ OMX Group ( NDAQ), up 2.3%, HDFC Bank ( HDB), up 1.4%, Citigroup ( C), up 1.4% and Grupo Financiero Santander Mexico SAB de CV ( BSMX), up 0.8%.

TheStreet would like to highlight 3 stocks pushing the sector lower today:

3. Altisource Residential Corporation ( RESI) is one of the companies pushing the Financial sector lower today. As of noon trading, Altisource Residential Corporation is down $2.99 (-10.5%) to $25.52 on heavy volume. Thus far, 1.8 million shares of Altisource Residential Corporation exchanged hands as compared to its average daily volume of 525,800 shares. The stock has ranged in price between $25.39-$27.35 after having opened the day at $27.34 as compared to the previous trading day's close of $28.51.

Altisource Residential Corporation, through its wholly-owned subsidiary, Altisource Residential, L.P., focuses on acquiring, owning, and managing single-family rental properties in the United States. Altisource Residential Corporation has a market cap of $1.6 billion and is part of the real estate industry. Shares are down 5.3% year-to-date as of the close of trading on Friday. Currently there are 2 analysts that rate Altisource Residential Corporation a buy, no analysts rate it a sell, and 1 rates it a hold.

TheStreet Ratings rates Altisource Residential Corporation as a hold. The company's strengths can be seen in multiple areas, such as its robust revenue growth, solid stock price performance and impressive record of earnings per share growth. However, as a counter to these strengths, we find that we feel that the company's cash flow from its operations has been weak overall. Get the full Altisource Residential Corporation Ratings Report now.

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.
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Chart of I:DJI
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