Bank andthrift stocks moved lower in morning trading Tuesday, March 29. Aroundmidday, the SNL U.S. Bank Index declined 0.23% to 372.35 and the SNL U.S.Thrift Index slipped 0.29% to 768.96.
The DowJones Industrial Average decreased 0.53% to 17,417.46, the S&P 500 slid0.33% to 2,033.92 and the Nasdaq composite index gained 0.15% to 4,757.05.
Gulfport,Miss.-based Hancock HoldingCo. saw its stock drop 4.65% to $22.58 amid news that the companyincreased itsexpected provision for credit losses for the first quarter by $45 million,citing risk rating downgrades on more than $300 million in outstanding energycredits and the results of a shared national credit review. The company nowexpects its total provision for credit losses for the first quarter to bearound $58 million to $62 million.
fell 2.06%to $13.34, CitigroupInc. declined 1.41% to $41.33 and JPMorgan Chase & Co. decreased 1.18% to $58.70.
retreated1.46% to $47.99. BerkshireHathaway Inc. Chairman, President and CEO Warren Buffett recentlydisclosed beneficialownership of 506,308,470 Wells Fargo common shares.
Amongthrifts, Westbury, N.Y.-based NewYork Community Bancorp Inc. advanced 0.77% to $15.73 and LakeSuccess, N.Y.-based AstoriaFinancial Corp. climbed 0.91%to $15.59. Cleveland-based ,meanwhile, slipped 1.32% to $17.20.
In economicnews, home prices inthe U.S. continued to rise in the year ending January 2016, according to datareleased by S&P Dow Jones Indices. The S&P/Case-Shiller U.S. nationalhome price index, covering all nine U.S. census divisions, posted a 5.4%year-over-year gain in January, while the 10-city composite was up 5.1% for theyear and the 20-city composite notched a 5.7% annual increase.
TheConference Board Consumer Confidence Index hit 96.2 in March, up from 94.0 inFebruary. The Present Situation Index slipped to 113.5 in March from 115.0 theprevious month, while the Expectations Index rose to 84.7 from 79.9 in February.
Market prices and index values are current asof the time of publication and are subject to change.