Bank and thrift stocks climbed out of in morning tradingTuesday, April 26, as the Federal Open Market Committee kicks off its two-daymeeting. Around midday, the SNL U.S. Bank Index went up 0.42% to 411.79 and theSNL U.S. Thrift Index advanced 0.44% to 797.91.
The broader markets were mixed, with the Dow JonesIndustrial Average slipping 0.08% to 17,962.52, the S&P 500 rising 0.07% to2,089.32 and the Nasdaq composite index sliding 0.20% to 4,886.09.
Among large-cap banks, JPMorgan Chase & Co. ticked up 0.33% to $63.81,Wells Fargo & Co.advanced 0.33% to $50.67, Bank ofAmerica Corp. increased 0.64% to $15.06 and rose 0.45% to $46.90.
ZionsBancorp. climbed 0.84% to $27.52 around noon. The Salt LakeCity-based company yesterday reported first-quarter net earnings applicable to commonshareholders of $78.8 million or 38 cents per share, compared to $75.3 millionor 37 cents per share a year earlier.
McKinney, Texas-based Independent Bank Group Inc. climbed 10.49% to $35.70.The company reported first-quarter net income available to common shareholdersof $12.4 million, or 67 cents per share, compared to $9.4 million, or 55 centsper share, for the quarter ended March 31, 2015.
HeartlandFinancial USA Inc. jumped 8.42% to $33.99, as the Dubuque,Iowa-based company reported net income available to common stockholders of$19.8 million, or 82 cents per share, for the first quarter, compared to $15.5million, or 76 cents per share, for the first quarter of 2015.
StonegateBank said April 26 that it inked a to acquire all theoperations of Regent BancorpInc., including its Davie, Fla.-based unit . Stonegate Bank's stockincreased 1.07% to $31.50 around noon.
Among notable movers, Marietta, Ohio-based jumped 6.18% to$21.32; Bedminster, N.J.-based Peapack-Gladstone Financial Corp. gained 6.28% to$19.98, Kansas City, Mo.-based UMBFinancial Corp. rose 3.94% to $54.99; and Norwich, N.Y.-based advanced 3.08%to $28.79.
Meanwhile, Seattle-based HomeStreet Inc. fell 3.37% to $21.69 and Fresno,Calif.-based Central ValleyCommunity Bancorp dropped 3.05% to $12.40.
In the thrift space, Westbury, N.Y.-based tickedup 1.05% to $15.43; San Diego-based BofI Holding Inc. added 2.61% to $19.28; Lake Success,N.Y.-based Astoria FinancialCorp. advanced 1.11% to $15.48; and Cleveland-based increased 1.00% to $18.23.
In economic news, U.S. home prices continued to rise in February, but slowly,S&P Dow Jones Indices reported, citing the results for theS&P/Case-Shiller home price indexes.
The national home price index, covering all nine U.S. censusdivisions, posted a 5.3% annual gain in February, unchanged from the Januarylevel. The 10-city composite index recorded a 4.6% year-over-year increase forthe month, down from January's 5.0% gain, and the 20-city composite increased5.4% from the year-ago period, down from 5.7% a month earlier.
Market prices andindex values are current as of the time of publication and are subject tochange.