trending Market Intelligence /marketintelligence/en/news-insights/trending/9rnkMgU4Trvpw_DPdez6pQ2 content esgSubNav
In This List

Midday Monday: Opus Bank plummets more than 20% following earnings


Banking Essentials Newsletter: 23rd August edition


Banking Essentials Newsletter: 9th August Edition


Navigating Industry Level Credit and Market Risks in the Light of Slow Growth and Interest Rate Hikes


Kensho Launches Word Error Rate Calculator

Midday Monday: Opus Bank plummets more than 20% following earnings

U.S. bank stocks added to Friday's losses during morning trading on Monday Jan. 30, as the broader markets also traded lower.

The SNL U.S. Bank index dropped 1.74% to 529.70, and the SNL U.S. Thrift index dipped 1.54% to 935.97.

Meanwhile, the Dow Jones Industrial Average declined 0.94% to 19,904.99, the S&P 500 fell 1.00% to 2,271.63 and the Nasdaq composite index retreated 1.25% to 5,589.81.

Among the nation's largest banks, JPMorgan Chase & Co. lost 1.50% to $85.62, and Bank of America Corp. fell 2.46% to $22.79.

Wells Fargo & Co. dropped 1.32% to $55.85, as the company pushed back against shareholder proposals for its upcoming annual meeting.

Citigroup Inc. retreated 1.79% to $56.08 around noon. The company announced its plans to sell about $97 billion in unpaid principal balances of mortgage servicing rights and related servicer advances on 780,000 Fannie Mae and Freddie Mac loans of non-Citibank retail customers to New Residential Investment Corp.'s wholly owned subsidiary New Residential Mortgage LLC. The company plans to completely exit the mortgage servicing rights business by 2018.

In other banking news, Opus Bank dropped 22.02% to $21.25 around noon, after the Irvine, Calif.-based company announced a net loss of $19 million during the fourth quarter of 2016, or 55 cents per share, before market hours. The loss for the quarter was driven by a loan loss provision that totaled $69.5 million.

Among notable movers, Pompano Beach, Fla.-based Stonegate Bank added 2.00% to $43.84 and Worthington, Ohio-based Central Federal Corp. gained 5.97% to $2.17. Meanwhile, Damariscotta, Maine-based First Bancorp Inc. dropped 4.70% to $27.56 and Wichita, Kan.-based Equity Bancshares Inc. fell 4.50% to $33.14.

Among thrifts, Westbury, N.Y.-based New York Community Bancorp Inc. was trading 1.25% lower at $15.00 and San Diego-based BofI Holding Inc. retreated 0.64% to $28.24.

In economic news, pending home sales in the U.S. increased, according to the National Association of Realtors pending home sales index, which rose 1.6% to 109.0 in December 2016 from 107.3 in November 2016.

Market prices and index values are current as of the time of publication and are subject to change.