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Midday Tuesday: Bank stocks flat

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Midday Tuesday: Bank stocks flat

U.S. bank stocks were flat around midday Tuesday, Oct. 10.

The SNL U.S. Bank Index slipped 0.01% to 579.42, while the SNL U.S. Thrift Index climbed 0.10% to 941.15.

The broader markets were mixed. The Dow Jones Industrial Average was up 0.18% to 22,801.08, the S&P 500 gained 0.12% to 2,547.74 and the Nasdaq Composite Index fell 0.02% to 6,578.17.

Among the nation's largest banks, JPMorgan Chase & Co. added 0.07% to $96.49, Wells Fargo & Co. rose 0.38% to $55.35, while Bank of America Corp. lost 0.21% to $25.80 and Citigroup Inc. declined 0.68% to $74.88.

FB Financial Corp. gained 1.98% to $38.68. Raymond James analyst Daniel Cardenas initiated coverage of the bank with an "outperform" rating. "FB Financial has emerged as a highly profitable, growth-oriented company with a well-balanced operating footprint and a diversified earnings model," Cardenas wrote.

Among notable price movers, First BanCorp. fell 1.26% to $5.08.

In the thrift space, BofI Holding Inc. was down 0.22% to $26.83.

S&P Dow Jones Indices and S&P Global Market Intelligence are owned by S&P Global Inc.

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