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- The financial stock losing the most ground in the past five sessions (with market cap of $2B or more) is Noah Holdings (NYSE:NOAH), down 15%, as it was downgraded to Neutral by JPMorgan on "lackluster" Q3 growth. The provider of wealth management services in China saw Q3 non-GAAP net income drop 4.2% from Q3 2020 and 16% from Q2.
- Open Lending (NASDAQ:LPRO) shares sank 15% during the same period. On Nov. 24, the SA Quant rating warned that the stock was at a high risk of performing badly, with poor grades for valuation and decelerating momentum;
- That's followed by LendingClub (NYSE:LC), which fell 15% in the past five sessions and 24% in the past month, comes down to earth after it jumped 33% during one session in Oct. 28;
- Reinsurance Group of American (NYSE:RGA) fell 13%; and
- U.K.-based Prudential Plc (NYSE:PUK) insurer, retirement and asset management firm slides 13%.
- Turning to financial stocks making the biggest gains in the past five sessions, three of the top five were Latin Ameria-based banks — Banco de Chile (NYSE:BCH), Banco Santander-Chile (NYSE:BSAC), and Intercorp Financial Services (NYSE:IFS).
- The biggest gain came from wholesale mortgage company UWM Holdings (NYSE:UWMC), which gained 18% a week ago when its principal shareholder terminated their secondary offering; at the same time the company accelerated its stock buyback program;
- Banco de Chile (BCH) increased 7.6% and Banco Santander-Chile (BSAC) climbed 6.5% for the past five sessions;
- Lima, Peru-based Intercorp Financial Services (IFS) rose 5.4%; and
- P&C insurer Progressive (NYSE:PGR) gained 4.3% in the past week. In the previous week, the company reported that October net premiums written jumped 15% Y/Y.
- In Friday's session, JPMorgan Chase was among the bank and credit card stocks punished by COVID concerns