After yesterday's losses, bank and thrift stocks moved higher inmorning trading Wednesday, April 6. Around midday, the SNL U.S. Bank Index climbed0.41% to 376.81 and the SNL U.S. Thrift Index advanced 0.32% to 776.76.
The broader markets were also in positive terrain, with theDow Jones Industrial Average advancing 0.36% to 17,667.56, the S&P 500increasing 0.58% to 2,057.02 and the Nasdaq composite index rising 0.88% to4,886.37.
In economic news, mortgage applications in the week ended April 1 rose2.7% from one week earlier on a seasonally adjusted basis, the Mortgage BankersAssociation reported April 6, citing the results of its weekly mortgageapplications survey.
Against this backdrop, JPMorgan Chase & Co. increased 0.45% to $58.62,Wells Fargo & Co.went up 0.84% to $47.91, Bank ofAmerica Corp. increased 0.49% to $13.26 and advanced 0.53% to $41.73.
Dallas-based Texas Capital Bancshares Inc. climbed 2.48% to $36.62and Camden, Maine-based CamdenNational Corp. went up 2.22% to $41.90 in morning tradingWednesday.
Among thrifts, Westbury, N.Y.-based rose0.42% to $15.42, San Diego-based BofI Holding Inc. advanced 0.80% to $21.37, LakeSuccess, N.Y.-based AstoriaFinancial Corp. ticked up 0.79% to $15.33 and Cleveland-basedTFS Financial Corp.(MHC) increased 0.32% to $17.17.
Wilmington, Del.-based WSFS Financial Corp. rose 0.60% to $32.70 in morningtrading. The company said April 5 that it has secured all the requiredapprovals needed inits pending acquisition of Wayne, Pa.-based Penn Liberty Financial Corp.
Market prices andindex values are current as of the time of publication and are subject tochange.