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Updated with stock price moves

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NEW YORK (

TheStreet

) --

MasterCard

(MA) - Get Mastercard Incorporated Class A Report

was among the losers of the financial sector after the credit-card processor missed estimates with its fourth-quarter earnings results.

MasterCard

posted fourth-quarter earnings of $2.43 a share, excluding 19 cents in after-tax severance charges, which fell below the Thomson Reuters average estimate of $2.46 a share.

Meanwhile, rival

Visa

(V) - Get Visa Inc. Class A Report

traded higher after reporting a fiscal first-quarter profit of $1.02 a share, which was better than the Thomson Reuters average estimate of 91 cents a share.

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Following the earnings beat, Barclays upgraded

Visa

shares to overweight from equal weight and upped its price target to $97 from $91.

MasterCard shares were falling 8.6% to $226.19, while

Visa

gained 0.1% to $83.64.

In other earnings news,

Deutsche Bank

(DB) - Get Deutsche Bank AG Report

swung to a fourth-quarter profit of 1.3 billion euros ($1.8 billion), although a sequential decline in sales and trading revenues spooked investors. Deutsche Bank shares trading in New York were down 6.3% to $60.07.

In other bank news,

Bank of America

(BAC) - Get Bank of America Corp Report

lost ground after New York Attorney General Andrew Cuomo's office said it is filing civil charges against the bank and its former CEO Ken Lewis and former CFO Joe Price. The charges stem from Bank of America's acquisition of

Merrill Lynch

in late 2008.

At the same time the New York AG's office announced the civil chargers, the

Securities and Exchange Commission

said it has filed a motion seeking court approval for a proposed settlement with Bank of America over a bonus scandal at Merrill Lynch.

As part of the settlement, Bank of America will pay $150 million and strengthen its corporate governance and disclosure practices to settle SEC charges.

Meanwhile,

Reuters

reported that Bank of America has hired Rajesh Melwani from

UBS

(UBS) - Get UBS Group AG Report

to be the Asia Pacific head of equity derivatives sales as part of the bank's major hiring spree across Asia, citing sources close to the matter.

The push to expand in the fast growing region has surprised rivals who thought the bank would focus more on rebuilding its U.S. business, the report said. Bank of America has also hired a real estate research team from Bell Potter Securities in Australia, led by veteran analyst Simon Garing, a source told

Reuters

.

Bank of America shares were sliding by 4% to $14.91.

Among other bank stocks,

Morgan Stanley

(MS) - Get Morgan Stanley Report

was lower by 4.4% to $26.65,

Citigroup

(C) - Get Citigroup Inc. Report

slumped 4.2% to $3.23,

Goldman Sachs

(GS) - Get Goldman Sachs Group, Inc. Report

fell 3.6% to $151.56, and

JPMorgan Chase

(JPM) - Get JPMorgan Chase & Co. Report

lost 3.5% to $38.90.

-- Written by Robert Holmes in Boston

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