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Tuesday's Bank Stocks: Puerto Rico-based banks lead on mostly flat day


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Tuesday's Bank Stocks: Puerto Rico-based banks lead on mostly flat day

Banks stocks ended Tuesday, Nov. 21, mostly flat as the SNL U.S. Bank Index ticked up 0.13% to 577.78 and the SNL U.S. Thrift Index also inched up 0.13% to 934.11.

The Dow Jones Industrial Average gained 0.69% to 23,590.83, the Nasdaq composite index increased 1.06% to 6,862.48 and the S&P 500 added 0.65% to 2,599.03.

Among the four largest banks in the U.S., Citigroup Inc. and Wells Fargo & Co. saw gains as Citi increased 0.46% to $72.38, and Wells rose 0.87% to $54.52. JPMorgan Chase & Co. slipped 0.08% to $98.93, and Bank of America Corp. was down 0.04% to $26.73.

In Canada, Royal Bank of Canada ticked down 0.09% to C$100.92 on the Toronto Stock Exchange. The bank was added to the list of global systemically important banks by the Financial Stability Board during the morning hours in North America.

The FSB also lowered Citi's required capital surcharge to 2%, leaving JPMorgan as the sole bank globally to require a 2.5% capital surcharge.

Among the day's best bank performers, merger partners Ameris Bancorp and Atlantic Coast Financial Corp. rose side-by-side, as Moultrie, Ga.-based Ameris increased 2.62% to $48.95 and Jacksonville, Fla.-based Atlantic Coast gained 3.27% to $9.47.

Puerto Rico-based banks also outperformed the sector on the day. OFG Bancorp jumped 4.44% to $9.40, Popular Inc. leaped 2.53% to $35.24 and First BanCorp. rose 2.69% to $4.96.

Among thrifts, New York Community Bancorp Inc. slid 0.54% to $12.87.

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