Updated from 2:49 p.m. EDT
The financial sector was slightly lower in choppy trading Thursday, with
coming in as one of the biggest-percentage losers among financial stocks.
The Houston-based savings bank was down 5.5% to $15.70 after offering $100 million in contingent convertible senior bonds under its existing shelf registration. Proceeds will pay for a portion of Franklin's $134 million buyout of Texas-based First National Bank of Bryan, a deal announced in December.
traded heavily after first-quarter earnings plummeted from last year and widely missed Wall Street estimates. The Milwaukee-based insurer traded actively, closing down 14 cents at $56.99.
Also turning in lower-than-expected first-quarter profits were
of Rockland, Mass., and Oregon's
. Independent was off 2.9% to $31.49; Cascade slipped 4% to $23.58.
On the winning side, both
Chicago Board of Trade
Chicago Mercantile Exchange
were higher after BMO Capital Markets expressed belief that CME remains CBOT's preferred buyer vs.
BMO started coverage on CBOT with an underperform rating, citing valuation, but shares still added $1.77 earlier in the day and closed up 43 cents at $189.36. CME closed slightly higher and ICE closed slightly lower, both on outperform ratings.
Among other stocks lifted by positive analyst calls, Arkansas-based
Bank of the Ozarks
gained 4.4% to $29.15 on a Cohen Bros. upgrade to buy from hold, and
rose 2.1% to $21.95 after Deutsche Bank gave the online broker a new buy rating.
Subprime mortgage lender
dipped a bit from Wednesday night's after-hours leap, but it was still up 1.8% to $5.12 on yesterday's post-bell announcement that it will
consider selling itself
After a rough morning, KBW Bank Index was up slightly at 114.57, and
NYSE Financial Sector Index
recovered 0.3% to 9520.05.