Tuesday's Financial Winners & Losers

Piper Jaffray(PJC Quote) fell after the Minneapolis-based asset manager was downgraded by Wachovia to market perform from outperform. Shares dropped $3.91, or 5.93%, to $62.05.

Investors Bancorp(ISBC Quote) advanced after the Short Hills, N.J.-based bank said its board approved a 5.3 million-share stock buyback.

The bank, which went public nearly a year ago, says it will repurchase up to 10% of its stock. Shares were trading up 14 cents, or nearly 1%, to $15.05.

North Fork Bancorp(NFB Quote) declared its regular quarterly dividend of 25 cents a share. The dividend will be payable Nov. 15 to shareholders of record on Oct. 27. North Fork is being acquired by Capital One(COF Quote). North Fork was trading up five cents to $28.39. ...