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Midday Thursday: Great Western Bancorp jumps after earnings report


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Midday Thursday: Great Western Bancorp jumps after earnings report

Bank and thrift stocks were near breakeven around middayThursday, April 28. The SNL U.S. Bank Index went up 0.01% to 414.33, while theSNL U.S. Thrift Index was also up 0.01% to 798.20.

Among notable movers, Sioux Falls, S.D.-based jumped6.79% to $31.77 after reporting earnings in the morning, and its pending mergerpartner, HF FinancialCorp., gained 4.72% to $20.26.

Meanwhile, the broader markets were mixed, with the DowJones Industrial Average retreating 0.08% to 18,027.24, the S&P 500increasing 0.18% to 2,098.90 and the Nasdaq composite index increasing 0.51% to4,887.91.

In economic news, the week ended April 23 saw an increase inunemployment insurance claims, with the advance figure for seasonally adjustedinitial jobless claims hitting 257,000, according to the U.S. Labor Department.The previous week's revised level was 248,000, while the four-week movingaverage was 256,000, compared to the previous period's revised level of 260,750.

The "advanced" estimate of the U.S. CommerceDepartment showed that real GDP, adjusted for price changes, increased at anannual rate of 0.5% in the first quarter. Real GDP increased 1.4% in the fourthquarter of 2015.

Among large-cap banks, JPMorgan Chase & Co. inched up 0.19% to $64.23,Bank of America Corp.increased 0.29% to $15.06, Citigroup Inc. rose 0.38% to $47.46 and dipped 0.28% to$50.79.

Among other companies that reported earnings, Lafayette,La.-based MidSouth Bancorp Inc.was up 0.86% to $9.42, around midday and American Fork, Utah-based had lost0.30% at $16.41.

In the thrift space, San Diego-based added 5.12% to$20.42; Sioux Falls, S.D.-based Meta Financial Group Inc. leapt 5.94% to $49.05; andCleveland-based TFS FinancialCorp. (MHC) increased 0.17% to $18.15. Lake Success, N.Y.-basedAstoria FinancialCorp. ticked down 0.33% to $15.31, and slid0.14% to $15.23.

Market prices andindex values are current as of the time of publication and are subject tochange.