Wednesday, February 23, 2011

New York Community Bancorp (NYB), People's United Financial (PBCT)Bancshares (HBAN), Comerica (CMA) Among Large Banks Hammered

On a wretched for bank stocks amid torrents of unrest in the Middle East and rising oil prices, the biggest loser among the largest U.S banks was Regions Financial, with shares dropping over 5% to close at $7.38

On a day that saw the banking industry do even worse than the broad indexes, the KBW Bank Index (BKX.X) was down over 3.5%, to close at 53.28.

All 24 components of the index were down, and in addition to Regions, the index components seeing the largest declines were Huntington Bancshares (HBAN), down 5% to close at $6.86, Comerica (CMA), also down 5% to close at 37.80 and Citigroup (C), down 4.5% to close at 4.69.

The large banks suffering the least on Tuesday included New York Community Bancorp (NYB), which closed at $18.61 and People's United Financial (PBCT), which closed at $13.24. Both were down 1%.

New York Community Bancorp has the distinction of the highest dividend yield among components of the KBW Bank Index, with a 25-cent quarterly payout, for a yield of 5.37%.



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