Financial stocks were advancing premarket Tuesday, with The Financial Select Sector SPDR Fund (XLF) up 0.3%.

The Direxion Daily Financial Bull 3X Shares (FAS) was 0.9% higher and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was down 0.7%.

Invesco (IVZ) shares were down more than 2% after the company reported lower Q2 adjusted earnings.

Mercantile Bank (MBWM) shares were up more than 2% after the company posted higher Q2 earnings and net revenue in addition to raising its quarterly dividend.

Simmons First National (SFNC) shares were down more than 5% after the company priced a public offering of 16.2 million Class A shares at $18.50 apiece to raise gross proceeds of $300.1 million.