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Financial stocks were higher Monday, earnings news drove movements in several smaller stocks.
Old National Bancorp (ONB Quote) shares jumped 8% after the regional bank's first quarter earnings came in 81% over the year-ago period's. Although the net income was down sequentially, investors rewarded the bank for its balance sheet restructuring and staff reductions, sending shares up $1.26 to $17.06.
Midwestern bank PrivateBancorp(PVTB Quote) reported a net loss for the first quarter of $8.9 million. However, the bank also added a significant number of accounts and saw increases in revenue and client deposits. The good news buoyed shares 6.8% to $35.56, an increase of $2.25. ...
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