Jefferies shares slide after $30 million First Brands drags earnings

Shares of investment bank Jefferies Financial Group JEF.N down 6.49% at $60.48

JEF reported Q4 results on Wednesday after the market close

Co incurred a $30 million loss tied to First Brands, which filed for bankruptcy last year

Co in Q4 reported net earnings attributable to common shareholders of $190.9 million vs $205.7 million, a year ago

JEF has previously disclosed its exposure to First Brands through a fund called Point Bonita, which is managed by the bank’s Leucadia Asset Management arm

Five of 6 brokerages rate the stock "buy" or "higher", 1 "hold"; their median PT is $76 - LSEG

Including session moves, JEF down 24.4% in last 12 months