plunged after the Oregon-based bank reported a 69% gain in third-quarter income but warned of subdued loan demand and an easing of its net interest margin.
The bank posted earnings of $10.5 million, or 46 cents a share, up from $6.2 million, or 35 cents a share, a year ago. Total deposits came to $1.6 billion as of Sept. 30, up 41% from a year ago, largely due to the combination with Farmers and Merchants State Bank of Idaho. Cascade said it expects the slowing real estate market to continue and lead to moderate loan demand. Shares slipped $1.51, or 3.9%, to $36.84.
slipped after the McLean, Va.-based REIT was downgraded by
to peer perform from outperform. Shares were trading down 43 cents, or 2.9%, to $14.24.
Principal Financial Group
gained after the Des Moines, Iowa-based asset management company said it priced a $500 million bond offering. A portion of the proceeds will be used to fund its previously announced purchase of WM Advisors. Shares were up 32 cents to $54.42.
lost ground after the Milwaukee, Wis.-based mortgage insurer posted modest declines in third-quarter profit and revenue.
The private mortgage insurer said it made $130 million, or $1.55 a share, down from $142 million, or $1.55 a share. Revenue slipped to $369.4 million, down from $375.7 million. Analysts surveyed by Thomson Financial were looking for earnings of $1.56 a share profit on sales of $368 million. Shares slipped $1.31, or 2.2%, to $60.22.
lost ground after the Bethesda, Md.-based REIT was downgraded by
to peer perform from outperform. Shares fell 14 cents to $22.38.