Sector Update: Financial Stocks Struggling for Direction This Afternoon

Tuesday, May 4, 2021 1:15 PM | MT Newswires

Financial stocks were narrowly mixed in afternoon trading, with the NYSE Financial Index dropping 0.3% while the SPDR Financial Select Sector ETF was ahead 0.3%.

The Philadelphia Housing Index also was climbing 0.4% and the SPDR Real Estate Select Sector ETF was down 0.7%.

In company news, The Bancorp (TBBK) was 9.7% higher after S&P Dow Jones Indices said the bank holding company would join the S&P SmallCap 600 Index on Friday, May 7.

Boston Private Financial Holdings (BPFH) rose 3.2% after saying its shareholders have voted to approve the bank's proposed acquisition by SVB Financial Group (SIVB), which last week again said it would not increase its cash and stock buyout offer. SVB Financial shares were nearly 1% higher.

EverQuote (EVER) fell 7% after JPMorgan lowered its price target for the online insurance marketplace by $15 to $41 a share and reiterated its overweight stock rating.

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