Story updated with closing prices.
NEW YORK (
) - On a decent day for bank stocks,
People's United Financial
was the big winner, with shares rising over 2% Friday to close at $12.64.
The broad indexes were up following a revised report from the Commerce Department that the U.S. gross domestic product increased at an annualized pace of 3.1% during the fourth quarter. The
KBW Bank Index
( BKX) followed suit, rising 0.5% to close out the week at 51.82. All but six of the 24 index components were up on the day.
Other winners Friday afternoon included
, which was up 1.5% to close at $27.08.
Large bank holding companies seeing 1% gains included
, closing at $6.59;
, closing at $31.94;
, closing at $57.99;
, at $7.18; and
, closing at $52.23.
Following a high profile
of its shares by FBR Capital Markets analyst Paul Miller on Thursday, shares of
Bank of America
was the big loser on Friday, down 1% to close at $13.34.
Bank of America is among several bank holding companies whose shareholders will vote on proposals by the
to conduct independent reviews of mortgage and foreclosure practices. The request will also appear on proxy statements for Wells Fargo.
and Bank of America all sought rulings from the Securities and Exchange Commission to exclude the proposals.
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.