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

Published on Wednesday, 01 February 2012 16:46 Written by Christopher Lynn

New York, February 1st (TradersHuddle.com) - The KBW Bank Index closed higher at $43.52, which represents 2.23% from its previous close. The bank index had a pretty much broad rally with 23 index components on the plus side.

Bank of America (NYSE:BAC) was the top performer of the banking index, closing at $7.36 representing 3.23%. versus the previous trading session. Shares of Bank of America, the largest U.S. lender have defined support at $7.02 and resistance at $7.50.

Citigroup (NYSE:C) was also among the top performers, closing at $31.6 representing 2.86% from its previous close. Citigroup, the diversified financial services firm has calculated support and resistance levels at $27.66 and $30.95 respectively. The other top performer was BB&T (NYSE:BBT), which traded at $27.95 representing 2.8% from the previous trading session.

The bank's worst performers include People's United Financial (NASDAQ:PBCT) that closed at $12.3 or -0.24% from the previous close. Shares of People's United Financial, the Connecticut based banking holding company have defined support at $12.75 and resistance at $13.79. Also among the worst performers was (), which is currently trading at $0 representing 0% from the previous trading session.

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