Bank Stocks Round Up - Lower: MI, KEY, COF

Published on Thursday, 26 August 2010 16:46 Written by Gerard Lerod

New York, August 26th (TradersHuddle.com) - The KBW Bank Index closed lower at $43.1, which represents -0.71% from its previous close. The bank index tumbled with 19 index components on the negative side.

Marshall & Ilsley (NYSE:MI) was the top performer of the banking index, closing at $6.34 representing 1.12%. versus the previous trading session. Shares of Marshall & Ilsley, the Wisconsin based diversified financial services firm have defined support at $5.98 and resistance at $7.52.

KeyCorp (NYSE:KEY) was also among the top performers, closing at $7.34 representing 0.96% from its previous close. KeyCorp, the regional bank headquartered in Cleveland, Ohio has calculated support and resistance levels at $7.42 and $8.52 respectively. The other top performer was Capital One (NYSE:COF), which traded at $37.21 representing 0.24% from the previous trading session.

The bank's worst performers include Synovus (NYSE:SNV) that closed at $2.08 or -2.8% from the previous close. Shares of Synovus, the financial services holding company based in Coumbus Georgia have defined support at $2.26 and resistance at $2.50. Also among the worst performers was SunTrust Banks (NYSE:STI), which is currently trading at $22.35 representing -2.32% from the previous trading session.

Today, the banks outperformed the broad market index S&P 500.