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This week’s five top gainers in financial stocks feature three Latin American banks, two of them Chilean. And among the five biggest decliners are two U.S. insurance companies, two lenders, and a Chinese fintech.
The top performing financial stock, with market cap of over $2B, Itaú Corpbanca (NYSE:ITCB), a Chilean bank, rose 10% during the week ended Sept. 2; in the past month, the stock has risen 14% the Chilean peso strengthened 2.1% against the U.S. dollar on Friday and managed to rise 1.6% against the greenback for the week;
La Jolla, California-based Palomar Holdings (NASDAQ:PLMR) climbed 9.6%;
Banco Santander Chile (NYSE:BSAC) stock rose 5.5% on Friday alone, bringing its week’s performance to +6.8%;
Futu Holdings (NASDAQ:FUTU), a Chinese fintech, gained 5.6% during the week that J.P. Morgan upgraded the stock to Overweight on its strong Q2 results and receding risk of being de-listed in the U.S.; and
Banco Santander Mexico (NYSE:BSMX) climbed 3.4% during the week.
On the negative side, 360 DigiTech (NASDAQ:QFIN), a Chinese fintech, dropped 14%, reversing its 14% increase in the previous week;
U.S.-based Goosehead Insurance (NASDAQ:GSHD), a personal line insurance agency fell 12%, following a 10% decline in the prior week;
Hagerty (NYSE:HGTY), which provides auto and boat insurance products and also runs a media and events businesses, slid 9.8%;
Rocket Companies (NYSE:RKT), the mortgage and loan company, dropped 9.7% after falling 13% in the previous week; and
Navient (NASDAQ:NAVI) dipped 9.2% after Credit Suisse assessed that the student loan company would be hurt more by the federal student loan forgiveness program than Nelnet (NNI) would.
On Thursday, bitcoin (BTC-USD) mining stocks started September on a down note
Image and article originally from seekingalpha.com. Read the original article here.