Citigroup, Synovus: Financial Winners & Losers

Bad housing news continues to slam financial stocks.
Publish date:



) -- Financial stocks languished Wednesday as more bad news poured in from the nation's housing markets. The

Financial Select Sector SPDR

(XLF) - Get Report

was down 13 cents in mid-morning trading to $13.38.

Among the most actively traded stocks was financial behemoths


(C) - Get Report


Bank of America

(BAC) - Get Report

, which ran first and third respectively as volume leaders.

The broader market - and financials in particular - were blindsided by

data released by the National Association of Realtors that sales of previously owned homes fell 27.2% from June to a seasonally adjusted annual rate of 3.83 million. That was well below economist projections for the period.

Biggest gainers for the day include the preferred shares of

First BanCorp

(FBP) - Get Report

, which were up $2.10 to $5.15, after the company announced a successful exchange of preferred stock for common shares. Shares of

Xenith Bankshares


we up over %15, to $6.42, after announcing a management change.

Notable losers in the midday session include

Synovus Financial

(SNV) - Get Report

, which was down over 6% to $2.01. Last month the bank missed analyst earnings estimates by 6 cents per share.

Shares of the other two U.S. banking giants,

Wells Fargo

(WFC) - Get Report


JPMorgan Chase

(JPM) - Get Report

, as well as investment bank

Morgan Stanley

(MS) - Get Report

were all lower.