NEW YORK (
both saw share price increases of over 1% on a mixed day for the banking sector.
Citigroup closed at $4.59 and BB&T closed at $26.64. The broad indexes were mixed after hitting multi-year highs Wednesday, as investors reacted to a U.S. Commerce Department report of
and the U.S. Labor Department reported that
KBW Bank Index
( BKX) was up 0.5% to 51.66.
was up following a report by Bloomberg that the Winston-Salem, N.C. lender, was considering a bid on
RBC Bank (USA)
, which is
Royal Bank of Canada
U.S. consumer banking subsidiary. Citing unnamed sources, Bloomberg said that
was also considering a bid.
Large banks seeing shares climb over 1% Thursday included
, which closed at $6.85;
Peoples United Financial
, closing at $13.64; and
, which closed at $28.07.
Bank of New York Mellon
was the loser among large banks Thursday, with shares sliding 1% to close at $28.58, after the company and was
TheStreet Ratings Top 3 Bank Stock Picks >>
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.