Bank Stock Roundup - January 23, 2009
Bank stocks increased today, erasing a portion of yesterday’s losses. The KBW Banking Index rose 4.14% and the KBW Regional Banking Index rose 2.36%. The S&P 500 Index was up 0.54%.
The Bank Index was led by Comerica Incorporated, Citigroup, and SunTrust, which were up 12.87%, 11.58%, and 10.48%, respectively. Lagging on the day were Capital One, State Street Corporation, and Zions Bancorporation, which had losses of 11.94%, 7.49%, and 2.24%.
Leading the Regional Banking Index were Sterling Financial Corporation, Bancorpsouth, and Fulton Financial Corporation, which were up 21.03%, 19.57%, and 10.83%, respectively. Offsetting these were UCBH Holdings, Webster Financial Corporation, and Citizens Republic Bancorp, which had losses of 32.72%, 19.70%, and 17.99%.
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