Bank Stocks Round Up - Higher: C, BAC, RF

Published on Thursday, 22 December 2011 16:46 Written by Christian Paolinetti

New York, December 22nd (TradersHuddle.com) - The KBW Bank Index closed higher at $39.68, which represents 2.82% from its previous close. The bank index had a broad rally with all Index components on the positive side.

Citigroup (NYSE:C) was the top performer of the banking index, closing at $27.65 representing 5.94%. versus the previous trading session. Shares of Citigroup, the diversified financial services firm have defined support at $24.40 and resistance at $30.14.

Bank of America (NYSE:BAC) was also among the top performers, closing at $5.48 representing 4.78% from its previous close. Bank of America, the largest U.S. lender has calculated support and resistance levels at $4.92 and $5.95 respectively. The other top performer was Regions Financial (NYSE:RF), which traded at $4.4 representing 4.27% from the previous trading session.

The bank's worst performers include Marshall & Ilsley (NYSE:MI) that closed at $7.9 or 0% from the previous close. Shares of Marshall & Ilsley, the Wisconsin based diversified financial services firm have defined support at $7.56 and resistance at $7.93. Also among the worst performers was M&T Bank (NYSE:MTB), which is currently trading at $76.54 representing 0.94% from the previous trading session.

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