U.S. bank stocks were mixed Tuesday, Aug. 8.
The SNL U.S. Bank Index improved 0.05% to 556.85, while the SNL U.S. Thrift Index fell 0.04% to 895.58. In the broader markets, the Dow Jones Industrial Average fell 0.15% to 22,085.34, the S&P 500 declined 0.24% to 2,474.92 and the Nasdaq Composite Index lost 0.21% to 6,370.46.
Earlier today, Old National Bancorp announced a cash-and-stock deal to acquire Anchor Bancorp Inc. and unit Anchor Bank NA for around $303.2 million. Old National's stock closed up 0.91% to $16.60.
Investors shrugged off Wells Fargo & Co.'s latest controversy involving its auto protection insurance. The California Department of Insurance is investigating claims that Wells Fargo and a third-party vendor, National General Insurance, may have improperly charged customers for auto insurance. Wells' stock ticked up 0.32% to $52.71.
Among the other big banks, Citigroup Inc. fell 0.23% to $68.88. Reuters reported the company agreed to settle for $130 million a U.S. lawsuit alleging it manipulated the London Interbank Offered Rate, or LIBOR. Bank of America Corp.'s stock fell 0.24% to $24.90.
JPMorgan Chase & Co.'s stock dropped 0.36% to $93.68. The bank's CEO, Jamie Dimon, made headlines today after saying the likely outcome of the Federal Reserve tightening its monetary policy will be fine.
Among notable price movers, Hilltop Holdings Inc. rose 2.43% to $26.14.
In the thrift space, BofI Holding Inc. rose 1.32% to $27.73.
Market prices and index values are current as of the time of publication and are subject to change.