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Citigroup, F.N.B.: Financial Losers

NEW YORK (TheStreet) -- Bank stocks were relatively resilient on Thursday, despite worries about the exposure of U.S. banks to Greece and other distressed sovereign debt.

Economic data was mixed on Thursday with better-than-expected jobless claims and housing starts data offset by a weaker- than- expected manufacturing report. Performance was mixed among the large-cap banks with shares of Bank of America and Wells Fargo (WFC) climbing by about 0.9% each.

Shares of Citigroup (C) fell 1.1% to $37.59 after it said a data breach in May affected 360,609 credit card accounts, more than the 200,000 originally reported by the media. Shares of JPMorgan Chase (JPM) slipped 0.8% to $40.36.

Capital One Financial (COF) saw its stock rise 2.4% to $49 on reports that it had won a bid for ING Groep's (ING) U.S. online banking unit, ING Direct for $9 billion. The bank will pay for the deal with $6.2 billion in cash and $2.8 billion stock, according to the report.

M&T Bank (MTB) and PNC Financial (PNC) were other prominent gainers among large-cap banks, up about 1% each.

Among the regionals, First Midwest Bancorp (FMBI) and Susquehanna Bancshares (SUSQ) and First Commonwealth Financial (FCF) made smart gains of between 3% to 4%.

A prominent loser was F.N.B. (FNB) which shed 4.5% to $ 9.85after it said it will acquire Pennsylvania bank Parkvale Financial in an all- stock transaction valued at approximately $22.48 per share, or $130 million.

--Written by Shanthi Bharatwaj in New York



>To contact the writer of this article, click here: Shanthi Bharatwaj.

>To follow the writer on Twitter, go to http://twitter.com/shavenk.

>To submit a news tip, send an email to: tips@thestreet.com.

Disclosure: TheStreet's editorial policy prohibits staff editors and reporters from holding positions in any individual stocks.

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