Marshall & Ilsley - Top Performing Bank

Published on Wednesday, 28 December 2011 16:46 Written by Gerard Lerod

New York, December 28th (TradersHuddle.com) - The KBW Bank Index closed lower at $38.88, which represents -1.79% 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.

People's United Financial (NASDAQ:PBCT) was also among the top performers, closing at $12.71 representing -1.01% from its previous close. People's United Financial, the Connecticut based banking holding company has calculated support and resistance levels at $11.58 and $12.80 respectively. The other top performer was M&T Bank (NYSE:MTB), which traded at $75.8 representing -1.03% from the previous trading session.

The bank's worst performers include Bank of America (NYSE:BAC) that closed at $5.29 or -3.56% from the previous close. Shares of Bank of America, the largest U.S. lender have defined support at $4.92 and resistance at $5.63. Also among the worst performers was Citigroup (NYSE:C), which is currently trading at $26.13 representing -2.86% from the previous trading session.

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