People's United: Financial Winner
NEW YORK (TheStreet) -- People's United Financial (PBCT) was the winner among large U.S. bank stocks Tuesday, with shares rising over 2% to close at $13.16.
The Bridgeport, Conn., lender is set to complete its acquisition of Danvers Bancorp (DNBK) of Danvers, Mass., on Thursday for roughly $458 million in cash and stock.
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While the broad indexes rose for the second straight day, with growing confidence in a second European bailout of Greece, bank stocks were mixed.
The KBW Bank Index (I:BKX) inched ahead slightly to 47.06, with 14 of the 24 index components rising for the session.
Large U.S. banks seeing shares rise over 1% Tuesday included Capital One Financial (COF), which closed at $51.42; Fifth Third Bancorp (FITB), closing at $12.41; Huntington Bancshares (HBAN), at $6.39; U.S. Bancorp (USB), at $24.87; and Zions Bancorporation (ZION), which closed at $23.09. Tuesday's loser among the largest domestic banks was Goldman Sachs, with shares slipping over 1% to close at $129.26.-- Written by Philip van Doorn in Jupiter, Fla. To contact the writer, click here: Philip van Doorn. To follow the writer on Twitter, go to http://twitter.com/PhilipvanDoorn. To submit a news tip, send an email to: tips@thestreet.com.
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