Fifth Third - Worst Performing Bank

Published on Wednesday, 11 January 2012 16:46 Written by Gerard Lerod

New York, January 11th (TradersHuddle.com) - The KBW Bank Index closed higher at $43.37, which represents 1.19% from its previous close. The bank index exhibited strong upside with 20 index components on the plus side.

Citigroup (NYSE:C) was the top performer of the banking index, closing at $31.27 representing 4.23%. versus the previous trading session. Shares of Citigroup, the diversified financial services firm have defined support at $26.02 and resistance at $29.18.

Bank of America (NYSE:BAC) was also among the top performers, closing at $6.87 representing 3.62% from its previous close. Bank of America, the largest U.S. lender has calculated support and resistance levels at $4.92 and $6.35 respectively. The other top performer was SunTrust Banks (NYSE:STI), which traded at $21.06 representing 2.88% from the previous trading session.

The bank's worst performers include Fifth Third (NASDAQ:FITB) that closed at $13.75 or -0.72% from the previous close. Shares of Fifth Third, the regional bank with presence in the Midwest and Southeast of the U.S. have defined support at $11.67 and resistance at $13.22. Also among the worst performers was Cullen/Frost Bankers (NYSE:CFR), which is currently trading at $55.68 representing -0.3% from the previous trading session.

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