Banks Outperfomed the S&P 500 :RF, HBAN, FITB

Published on Wednesday, 21 December 2011 16:46 Written by Gerard Lerod

New York, December 21st (TradersHuddle.com) - The KBW Bank Index closed higher at $38.59, which represents 1.02% from its previous close. The bank index had a pretty much broad rally with 22 index components on the plus side.

Regions Financial (NYSE:RF) was the top performer of the banking index, closing at $4.22 representing 2.93%. versus the previous trading session. Shares of Regions Financial, the Alabama based regional bank have defined support at $3.79 and resistance at $4.19.

Huntington Bancshares (NASDAQ:HBAN) was also among the top performers, closing at $5.41 representing 2.66% from its previous close. Huntington Bancshares, the regional banking holding company based in Columbus, Ohio has calculated support and resistance levels at $4.97 and $5.22 respectively. The other top performer was Fifth Third (NASDAQ:FITB), which traded at $12.49 representing 2.46% from the previous trading session.

The bank's worst performers include Cullen/Frost Bankers (NYSE:CFR) that closed at $51.97 or -1.05% from the previous close. Shares of Cullen/Frost Bankers, the largest Texas-based banking organization operating only within the state have defined support at $46.93 and resistance at $51.43. Also among the worst performers was Bank of New York Mellon (NYSE:BK), which is currently trading at $19.55 representing -0.15% from the previous trading session.

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