SOFI - Three Brazilian bank stocks among weeks' top five financial gainers; fintechs dip
Three Brazil-based bank stocks are among last weeks' top five financial gainers (with market cap of $2B+), while fintech names underperformed the most. Property and casualty insurer Alleghany (NYSE:Y) +27% topped the financial gainers list after Berkshire Hathaway (BRK.A) acquired the company in an all-cash deal. Next up are the three Brazilian banks: Banco Santander (NYSE:BSBR) +11.6%, Banco Bradesco (NYSE:BBD) +11% and Itau Unibanco +9.5%. The fifth largest gainer within the financial sector was cryptocurrency bank Silvergate Capital (SI) +8.9% after it snagged a new Buy rating at BofA. The top five biggest financial losers include: Lending platform Upstart (NASDAQ:UPST) -17.2% dropped after Wedbush downgraded the stock to Underperform from Neutral; China-based financial services platform Lufax (LU) -9.6%; Residential mortgage lender UWM (UWMC) -9.1%; Investment bank Houlihan Lokey (HLI) -8.7% and; Financial services platform SoFi Technologies (SOFI) -8.7%. Previously, (March 25) consumer sentiment held mid-March levels.
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Three Brazilian bank stocks among weeks' top five financial gainers; fintechs dip