Financial Winners and Losers: Wells Fargo

(Updated with closing stock price moves throughout.)

Financial stocks finished mostly lower Tuesday, with Wells Fargo (WFC Quote) among the losers a day before the bank is scheduled to report quarterly results.

Wells Fargo, set to report before Wednesday's opening bell, is expected to post a quarterly profit of 34 cents a share on revenue of $20.49 billion, according to Thomson Reuters. In April, the bank easily beat Wall Street's estimates and even came in a penny higher than its earnings preannouncement, although Wells Fargo continued to post higher credit costs.

On Monday, Bloomberg reported that Wells Fargo gained small-business customers in the quarter that ended in June as CIT Group (CIT Quote) ran short on cash, citing the Coleman Report, a newsletter that provides weekly data on small business lending in the U.S.

Wells Fargo shares slipped 17 cents, or 0.7%, to closet at $25.35.

Meanwhile, Regions Financial (RF Quote) dropped more than 15% after the bank reported disappointing second-quarter results. Regions swung to a second-quarter loss 28 cents a share, coming in worse than the Thomson Reuters average estimate for a loss of 22 cents a share.

Even worse, Regions said loan-loss provisions jumped to $912 million from $309 million a year ago and $425 million in the previous quarter. Shares tumbled 62 cents, or 15.4%, to $3.42.

State Street (STT Quote) also swung to a second-quarter loss. The Boston-based bank reported a loss of $3.3 billion, or $7.12 a share, compared with a profit of $548 million, or $1.35 a share, in the year-ago quarter.