NEW YORK (

TheStreet

) -- Financial stocks remained in the black on Tuesday as third-quarter earnings reports came out in full swing.

The

Financial Select Sector SPDR

rose modestly by 0.4%, to $14.73. The

KBW Bank Index

was up by 0.8%, to $46.97.

Large institutions that reported on Tuesday included

Bank of America (BAC) - Get Report

,

Bank of New York Mellon (BK) - Get Report

,

Goldman Sachs (GS) - Get Report

and

State Street (STT) - Get Report

.

However, it was several financial firms that already reported earnings that were the clear winners of the day.

Shares of

Capital One

(COF) - Get Report

jumped 7.7% to $40.11 on strong volume of about 8.2 million shares. Late Monday,

Capital One

said profit nearly doubled from year-ago comparisons on stronger revenue and improved credit quality.

Zions Bancorp (ZION) - Get Report

jumped 3.9%, to $22.18 on strong trading volume of more than 4 million shares, exceeding its three-month daily average.

Late Monday, the Salt Lake City-based banking institution reported a loss of 47 cents a share, beating analysts' estimates and narrowing its loss from both the second quarter and third quarter of 2009. Zions management indicated that it plans to return to profitability late this year, or by early 2011 as problem loans decline.

First Horizon National

(FHN) - Get Report

shares were also rising 4.3% to $10.52. The Memphis-based regional bank surprised Wall Street on Friday with a 7-cent profit.

Not all financial stocks were rising. Shares of

Citigroup

(C) - Get Report

were falling 0.5% to $4.15. Investors were likely taking profits on the bank shares after Citi's stock jumped 5.5% on Monday reflecting strong third-quarter earnings.

Investors were also selling off shares of the trust banks ,including Bank of New York Mellon, State Street and

Northern Trust

(NTRS) - Get Report

, as Bank of New York missed Wall Street estimates and State Street beat estimates on Tuesday.

Other losers included

AIG

(AIG) - Get Report

,

E*Trade Financial

(ETFC) - Get Report

and

U.S. Bancorp

(USB) - Get Report

. Both U.S. Bank and E*Trade report earnings results on Wednesday.

--Written by Laurie Kulikowski in New York.

To contact the writer of this article, click here:

Laurie Kulikowski

.

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