The market has been slipping so far today. The Nasdaq has slipped 0.2%; the S&P 500 has fallen 0.2%; and the Dow has declined 0.3%. The financial sector is the category of stocks containing firms that provide financial services to commercial and retail customers. This sector includes banks, investment funds, insurance companies and real estate. Financial services perform best in low interest rate environments. A large portion of this sector generates revenue from mortgages and loans, which gain value as interest rates drop. Furthermore, when the business cycle is in an upswing, the financial sector benefits from additional investments. Improved economic conditions usually lead to more capital projects and increased personal investing. New projects require financing, which usually leads to a larger number of loans.
The Financial sector (XLF) is down 0.3%, underperforming the market overall. The current biggest movers in the sector are:
|Company||Market Cap||Percentage Change|
|Acacia (Nasdaq:ACTG)||$1.06 billion||+3.7%|
|Zions (Nasdaq:ZION)||$3.81 billion||-3.4%|
|Capital One (NYSE:COF)||$34.3 billion||-2.1%|
|IBERIABANK (Nasdaq:IBKC)||$1.47 billion||-1.9%|
|Texas Pacific (NYSE:TPL)||$525.5 million||-1.8%|
|Safety Insurance Group (Nasdaq:SAFT)||$682.2 million||+1.3%|
|Greenhill & Co (NYSE:GHL)||$1.33 billion||+1.3%|
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Acacia (Nasdaq:ACTG) has risen 3.7% to hit a current price of $22.17 per share. So far today, the company's volume is 147,429 shares. This is on pace to reach yesterday's trading volume of 331,680 shares.
Zions (Nasdaq:ZION) has decreased to $20 per share, a 3.4% fall. At 2.3 million shares, the company's volume so far today is 1.1 times its current three-month average.
After a decline of 2.1%, Capital One (NYSE:COF) has hit a share price of $57.44. The company's volume for the day so far is 1.3 million shares.
Slipping 1.9%, IBERIABANK (Nasdaq:IBKC) is currently trading at $48.85 per share. At 112,091 shares, the company's volume so far today is one times the current daily average.
Currently trading at $56.45 per share, Texas Pacific (NYSE:TPL) has fallen 1.8%. So far today, 15,732 shares of the company's stock have changed hands. Yesterday's volume was only 13,032 shares.
Safety Insurance Group (Nasdaq:SAFT) has moved up 1.3% and is currently trading at $45.12 per share. With 9,954 shares changing hands so far today, the company's volume is 0.3 times the average volume over the last three months.
After rising 1.3%, Greenhill & Co (NYSE:GHL) is currently trading at a share price of $48.59. This morning, the company is trading a volume of 84,949 shares.
The Bottom Line The nature of the market is such that stocks will have good days and bad days. Paying close attention to the previous ratios will help you identify key times to adjust your strategy. However, these fundamental metrics must be analyzed with historic data, industry information in addition to firm specific financial statements.