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Credit Markets Improving as Lenders poised for Profit: CBC, WBS, RDN
The hot stock information of the day includes:
Capitol Bancorp Ltd. (NYSE:CBC) jumped 22.97% today to close at $2.40 on news yesterday the company said it agreed to sell Community Bank of Rowan, a $147 million affiliate in North Carolina, to First American Financial Management Co. Unit. Capitol Bancorp Ltd. said the sale was for a total cash consideration of about 1.5 times the bank's tangible common equity. Lansing, Michigan based Capitol Bancorp Ltd, is a publicly-traded, multi-billion dollar company composed of a network of community banks throughout the US.
Webster Financial Corporation (NYSE:WBS) advanced 7.65% to close at $9.29 on results their second quarter reported a wider loss before one-time gains, however shares rose on news that growth in problem loans was slowing and that it had added to reserves in excess of charge-offs, bringing its allowance for credit losses to 2.72 % of total loans from 1.52% a year earlier Webster Bank is based in Connecticut and is a full service commercial bank providing business and consumer banking, mortgage, financial planning, trust and investment services.
Radian Group Inc. (NYSE:RDN) is a steady gainer up 10.18% this afternoon to close at $2.49 on no news with 1,870,032 shares trading. Philadelphia, Pennsylvania based Radian Group has operations in New York and London and is a leading provider of credit enhancement for the global financial and capital markets with innovative solutions in mortgage insurance.
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