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Friday's Bank Stocks: Markets calm heading into Presidents Day weekend


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Friday's Bank Stocks: Markets calm heading into Presidents Day weekend

Stocks ended the day mixed on Feb. 16, as the Dow Jones Industrial Average added 0.08% to 25,219.38, the S&P 500 ticked up 0.04% to 2,732.22 and the Nasdaq Composite Index declined 0.23% to 7,239.47.

Markets ended the week recovering some losses from the market correction the week of Feb. 5 through Feb. 9. In the five trading days this week, the Dow Jones had gained 3.01%, the S&P 500 had added 3.15% and the Nasdaq had risen 4.16%. New data released Feb. 14 on consumer prices and retail sales pushed investors back into equities as markets began to settle with indications of rising inflation and, consequently, a higher interest rate environment.

Bank stocks traded down slightly. JPMorgan Chase & Co. declined 0.72% to $114.68, Citigroup Inc. decreased 0.34% to $76.82, Bank of America Corp. fell 0.75% to $31.97 and Wells Fargo & Co. ticked down 0.12% to $59.95.

Shares of some banks rose in trading. In Texas, Mount Pleasant-based Guaranty Bancshares Inc. added 4.92% to $32.20 while Dallas-based Triumph Bancorp Inc. gained 4.64% to $40.60. New York Community Bancorp Inc. gained 1.03% to $14.17.

American Fork, Utah-based People's Utah Bancorp declined 2.04% to $31.25.

Shares of Green Bay, Wis.-based Associated Banc-Corp ticked up 0.20% to $24.90 after it announced that its subsidiary, Associated Benefits and Risk Consulting, agreed to acquire Diversified Insurance Solutions, a Wisconsin-based insurance broker.

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Market prices and index values are current as of the time of publication and are subject to change.