Financial stocks were declining premarket Monday with the Financial Select Sector SPDR Fund (XLF) 0.1% lower recently.

The Direxion Daily Financial Bull 3X Shares (FAS) was down 0.5% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 0.4% higher.

Lufax Holding (LU) shares fell past 11% after the company swung to a Q3 loss as total income declined during the period.

Atlantic Union Bankshares (AUB) shares were down more than 6% after the company said it has agreed to acquire Sandy Spring Bancorp (SASR) in an all-stock deal valued at about $1.6 billion. Atlantic Union Bankshares also priced an offering of approximately 9.9 million shares at $35.50 per share for a total amount of $350 million.

Banco Bilbao Vizcaya Argentaria (BBVA) shareholder GQG Partners sold its stake in the bank as it opposed BBVA's hostile takeover bid for rival Banco Sabadell, the Financial Times reported, citing unnamed sources familiar with the matter. BBVA shares were down more than 1% premarket.