NEW YORK (
Bank of America
was the winner among large U.S financials in early afternoon trading on Friday, with shares rising 4% to trade for $6.29.
The broad indexes were mixed as investors continued to fret over the uncertain economic situations in Europe and in the United States. Late Thursday, the G20 nations had agreed to take necessary action to calm the global financial system, with the central bank prepared to inject additional liquidity.
KBW Bank Index
was up over 1% to 34.88 in early afternoon trading, with 19 of the 24 index components showing gains.
Large U.S financials seeing gains of nearly 4% included
which traded for $12.55, and
, which was changing hands for $24.80.
Cullen/Frost Bankers was up over 3% to $22.72.
Large 1% gains included Fifth Third Bancorp, trading for $9.72;
, at $94.57;
, at $68.41;
, at $34.42;
New York Community Bancorp
( NYB), at $11.69;
, at $3.46; and
, which was trading for $23.47.
New York Community Bank Eyes Growth >
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.