Posted: 7 month(s) and 6 days(s) ago   |   0 Comment(s)   |   Rating: 0 0
Posted by: ToddShriber

EuroBancshares (EUBK.NSDQ), a Puerto Rico-based bank, joined the rally in financials today, adding 89 cents, or 50%, to $2.66, making the stock the biggest gainer on the Nasdaq. Volume was more than seven times the daily average.

There was no direct news impacting EuroBancshares today, but it appears the market is warming to financials of all kinds and that bullish sentiment may be trickling down to names like EuroBancshares.

EuroBanchsares does have exposure to residential and commercial real estate in its loan portfolio, so it will be interesting to see if the company faces any of the same problems that larger banks have for similar loan portfolios. The company has nearly $518 million in debt and no free cash.

For more on EuroBancshares, go here: http://www.eurobankpr.com

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