Huntington Bancshares - Top Performing Bank

Published on Friday, 27 August 2010 16:46 Written by Gerard Lerod

New York, August 27th (TradersHuddle.com) - The KBW Bank Index closed higher at $44.19, which represents 2.53% from its previous close. The bank index had a broad rally with all Index components on the positive side.

Huntington Bancshares (NASDAQ:HBAN) was the top performer of the banking index, closing at $5.44 representing 5.02%. versus the previous trading session. Shares of Huntington Bancshares, the regional banking holding company based in Columbus, Ohio have defined support at $5.04 and resistance at $6.40.

Synovus (NYSE:SNV) was also among the top performers, closing at $2.18 representing 4.81% from its previous close. Synovus, the financial services holding company based in Coumbus Georgia has calculated support and resistance levels at $1.98 and $2.50 respectively. The other top performer was Marshall & Ilsley (NYSE:MI), which traded at $6.59 representing 3.94% from the previous trading session.

The bank's worst performers include People's United Financial (NASDAQ:PBCT) that closed at $12.79 or 0.95% from the previous close. Shares of People's United Financial, the Connecticut based banking holding company have defined support at $13.12 and resistance at $14.35. Also among the worst performers was M&T Bank (NYSE:MTB), which is currently trading at $87.78 representing 1.3% from the previous trading session.

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