SOFI - SoFi Valley National lead financial gainers this week on upgrades and acquisition

Overall, financial stocks turned in a strong week, with the Financial Select Sector SPDR ETF (NYSEARCA:XLF) rising 1.7%, outpacing the S&P 500's 0.5% rise, helped by rising Treasury yields. The 10-year Treasury yield increased to 1.45% late Friday, after starting out Monday at 1.37%. The biggest financial gainer (with market cap over $2B), though, is SoFi Technologies (NASDAQ:SOFI), +17%, as the neobank received a Buy rating from Jefferies on its potential to grow through cross-selling opportunities. In addition, Amplify ETFs is planning a digital and online trading ETF based on the BlueStar Global E-Brokers and Digital Capital Markets Index, which includes SOFI. Valley National Bancorp (NASDAQ:VLY), +8.8%, is the second biggest gainer after Citi upgraded the stock to Neutral and raised its price target, saying its proposed acquisition of Bank Leumi USA addresses several concerns the analyst had about VLY. Valley is followed by Winter Haven, FL-based SouthState Corp (NASDAQ:SSB), up 8.7%; Tacoma,

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SoFi, Valley National lead financial gainers this week on upgrades and acquisition