NEW YORK ( TheStreet) -- Financial stocks continued their outperformance of recent days, with the Financial Select Sector SPDR ( XLF), a popular exchange traded fund that tracks the sector, up 1.14%, outpacing both the Nasdaq and S&P 500 indices on Wednesday.

AIG ( AIG) was one of the highest fliers in the sector, following a disclosure by the company it had received bids of up to $3 billion bid for Nan Shan, its Taiwanese life insurance business.

AIG shares were up 7.31% to $60.93. Volumes of 14.3 million were nearly triple their trailing daily average of 5.2 million shares over the last three months.

While nearly all other large financial stocks were up a couple of names spent most of the day in negative territory before finishing higher on the day. One such name was General Electric ( GE). GE shares were up just a penny, or .05% to $18.62. GE's weakness was especially notable since the Industrial SPDR ( XLI) a financial sector exchange traded fund in which GE is by far the largest component, was up 0.51% to $35.23.

Nick Heymann, analyst at Sterne Agee, noted the stock surged suddenly in late trading Tuesday on what he think were investor hopes GE would make an announcement to pave the way for a major hike in the dividend. When no announcement came Wednesday, the shares softened.

Another laggard was U.S. Bancorp ( USB), which was negative most of the day before finishing up just 0.19%, compared to a gain of 1.33% for Citigroup ( C), a 2.24% gain for Wells Fargo ( WFC), and a 1.76% rise for shares of Bank of America ( BAC).

Shares of U.S. Bancorp, which has outperformed most large banks over the past three months, have been comparatively weak in recent days, and over the past month.

Rochdale Securities analyst Richard Bove argues time is running out on U.S. Bancorp's opportunity to make an acquisition, because the rise in shares of other banks is making a deal increasingly expensive. He also thinks the market may be questioning an approach he argues is to try to gain market share by cutting prices relative to competitors. Davis told TheStreet in a recent interview he is open to deals, but doesn't need to do one to grow the bank.

-- Written by Dan Freed in New York.
Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.

If you liked this article you might like

CEOs Are Dropping Like Flies

How To Get a Promotion Using Legendary Former GE Head Jack Welch's Strategies

GE Nearing Deal to Sell Industrial Solutions Unit to Swiss-Based ABB

How to Fire People Like Former General Electric CEO Jack Welch

Tax Reform Is Coming and That Means Trump Stock Rally Is Ready to Kill It Again