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Last week’s gainers were led by four regional banks and a consumer lender. Meanwhile, a credit card company, two crypto-exposed companies, a Chinese personal financial platform and a British insurance company were the worst performers.
In general, financial stocks It ended the earnings week on a steady note, with the SPDR ETF (New York: XLF) climb 3%surpassing the S&P 500 index 0.7% rise.
Alabama-based ServisFirst Bancshares (New York Stock Exchange: SFBS) was the biggest winner among financial stocks (with a market capitalization of more than $2 billion) for the week ending July 21, rise 35.2%after recording a 23% growth in deposits year on year;
Western Alliance Bancorporation (New York Stock Exchange: WAL) jumped 24.3% With the improvement of deposits during the second quarter;
Fellow regional lender Zions Bancorporation (Nasdaq: Zion), which also saw a strong recovery in customer deposits, led 17.6% increase;
conceited holding (Nasdaq: UPST), which provides a loan platform for banks, jumped 16.4%; And
Pinnacle Financial Partners (Nasdaq: PNFP), 16.4% increaseafter posting stronger-than-expected higher and lower earnings.
The biggest loser was credit card company Discover Financial Services (New York Stock Exchange: DFS), 11.3% decreaseafter achieving second-quarter earnings and revenue that fell short of Street expectations;
Bitcoin (BTC-USD) Marathon Digital Holdings (Nasdaq: Mara) down 6.6% As Bitcoin continues to trade sideways;
Lofax Holding (New York Stock Exchange: LU), a Chinese financial services platform, decreased 4.4%;
Cryptocurrency exchange Coinbase Global (Nasdaq: Coin), amid its ongoing legal troubles, down 4.3%; And
Prudential Inc. (New York Stock Exchange: PUK), a UK-based life and health insurance company, superior decreased 4%.