NEW YORK (
) - American International Group
was the loser among large financial names Wednesday, with shares giving up 5% to close at $28.13, following the company's
on Tuesday, that was priced at $29, and a sale of $5.8 billion in AIG shares by the Treasury.
The broad indexes held onto gains despite a lower-than-expected report on
for April, with
prices all showing strength.
KBW Bank Index
was down slightly to 48.89.
was the winner among the largest U.S> banking names Wednesday, with shares rising 2% to close at $26.67.
Large bank stocks seeing shares climb 1% Wednesday included
Fifth Third Bancorp
, which closed at $12.61;
, closing at $6.42;
, at $61.11,
, at $6.81; and
, which closed at $27.36.
Wednesday's loser among the large banks was Comerica, with shares sliding 2% to close at $35.14.
Written by Philip van Doorn in Jupiter, Fla.
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Philip W. van Doorn is a member of TheStreet's banking and finance team, commenting on industry and regulatory trends. He previously served as the senior analyst for TheStreet.com Ratings, responsible for assigning financial strength ratings to banks and savings and loan institutions. Mr. van Doorn previously served as a loan operations officer at Riverside National Bank in Fort Pierce, Fla., and as a credit analyst at the Federal Home Loan Bank of New York, where he monitored banks in New York, New Jersey and Puerto Rico. Mr. van Doorn has additional experience in the mutual fund and computer software industries. He holds a bachelor of science in business administration from Long Island University.