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

Published on Monday, 19 December 2011 16:46 Written by Christian Paolinetti

New York, December 19th (TradersHuddle.com) - The KBW Bank Index closed lower at $36.69, which represents -2.7% from its previous close. The bank index tumbled with 23 index components on the negative side.

Marshall & Ilsley (NYSE:MI) was the top performer of the banking index, closing at $7.9 representing 0%. versus the previous trading session. Shares of Marshall & Ilsley, the Wisconsin based diversified financial services firm have defined support at $7.56 and resistance at $7.93.

KeyCorp (NYSE:KEY) was also among the top performers, closing at $7.13 representing -0.7% from its previous close. KeyCorp, the regional bank headquartered in Cleveland, Ohio has calculated support and resistance levels at $7.00 and $7.49 respectively. The other top performer was PNC Financial (NYSE:PNC), which traded at $54.38 representing -1.29% from the previous trading session.

The bank's worst performers include Synovus (NYSE:SNV) that closed at $1.34 or -6.94% from the previous close. Shares of Synovus, the financial services holding company based in Coumbus Georgia have defined support at $1.28 and resistance at $1.54. Also among the worst performers was Citigroup (NYSE:C), which is currently trading at $24.82 representing -4.65% from the previous trading session.

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