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Fintech leads financial stocks in May

U.S. financial technology stocks once again outperformed other financial sectors in May as the SNL U.S. Financial Technology Index returned 4% for the month. By comparison, the SNL U.S. Investment Companies Index returned 3.2%, the SNL U.S. Specialty Lender Index 2.7% and the S&P 500 2.4%.

Over the last year, the SNL U.S. Financial Technology Index has returned 29.9%.

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Chicago-based OneSpan Inc., a digital transactions software provider, topped major exchange-traded U.S. financial institutions in May, posting a 39.7% return for the month. On May 9, OneSpan's stock surged 17% after the company reported first-quarter earnings.

Livermore, Calif.-based Performant Financial Corp. posted a 26.5% loss in May, the steepest among financial stocks. Performant's stock plunged 13.9% on May 4 after the U.S. Department of Education canceled its student loan recovery contract with the company.

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Click here to view a template on historical total returns.

Click here to view a template that provides pricing trends and profitability ratios for financial institutions.