Bank and thrift stocks moved into negative territory inmorning trading Monday, May 9, after posting gains on Friday. Around midday, the SNL U.S.Bank Index slid 0.87% to 391.49, and the SNL U.S. Thrift Index slipped 0.47% to776.17.
The broader markets were mixed, with the Dow JonesIndustrial Average retreating 0.34% to 17,681.09, the S&P 500 decreasing0.04% to 2,056.28 and the Nasdaq composite index adding 0.23% to 4,746.52.
Among large-cap banks, JPMorgan Chase & Co. decreased 0.66% to $61.20,Wells Fargo & Co.dipped 0.24% to $48.90, Bank ofAmerica Corp. dropped 1.06% to $13.96 and slid 1.46% to $43.76.
Banc ofCalifornia Inc. decreased 0.10% to $19.28 around noon, as theIrvine, Calif.-based company completedthe sale of Palisades Group LLC to Palisades Holdings I LLC on May 9.
Among notable movers, Gulfport, Miss.-based gained 1.10% to$24.87 and Franklin, Tenn.-based Franklin Financial Network Inc. went up 1.81% to $30.37.Meanwhile, Houston-based GreenBancorp Inc. fell 3.51% to $7.14, San Juan, Puerto Rico-based lost 4.50% to $7.86and San Juan, Puerto Rico-based First BanCorp. dropped 3.63% to $3.59.
In the thrift space, Cleveland-based increased0.28% to $18.08. Westbury, N.Y.-based New York Community Bancorp Inc. ticked down 0.34% to$14.53, San Diego-based BofIHolding Inc. lost 2.05% to $18.63 and Lake Success, N.Y.-basedAstoria FinancialCorp. retreated 0.61% to $14.73.
Market prices andindex values are current as of the time of publication and are subject tochange.