Financial Stocks Ended Higher (ACAS, KIM, WL)
American Capital Ltd. (NASDAQ:ACAS) went up 1.86% to $7.66 on about 5.20 million shares. This week, the company posted a profit of $149 million, or 43 cents a share, compared with $77 million, or 27 cents a share, last year.
Net operating income was $59 million, or 17 cents a share. The company said it will repay $107 million of debt in the fourth quarter.
Analysts on average were expecting earnings of 16 cents a share, according to Thomson Reuters.
Over the past 52-week, the stock had traded within the range of $2.31-$7.72 and is up more than 205% year-to-date.
Kimco Realty Corporation (NYSE:KIM) surged 2.67% to $18.08. This week, the company reported Wednesday a drop in Funds from Operations for the third quarter, reflecting a debt-extinguishment charge and higher interest expense.
For the third quarter, Kimco Realty’s Funds from operations or FFO dropped to $110.5 million or $0.27 per share from $112.5 million or $0.30 per share in the year-ago period.
On average, 18 analysts polled by Thomson Reuters expected earnings of $0.26 per share for the quarter. Analysts’ estimates typically exclude special items.
The stock opened at $17.66 and has a 52-week range of $11.54-$18.40. In the past one month of trading sessions, the stock went up more than 7%.
Wilmington Trust Corporation (NYSE:WL) went up 0.70% to $4.31 on about 3.97 million shares of trade. This week, M&T Bank Corporation and Wilmington Trust Corp. announced jointly that they have entered into a definitive agreement under which Wilmington Trust will merge with M&T.
Under the terms of the merger agreement, Wilmington Trust common shareholders will receive 0.051372 shares of M&T common stock in exchange for each share of Wilmington Trust common stock they own in a stock-for-stock transaction valued at approximately $351 million that is expected to close by mid-year 2011.
Over the past one month of trading sessions, the stock went down more than 44%.