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Midday Monday: Bank stocks start week with losses

U.S. bank stocks trailed broader markets during morning trading Monday, Dec. 19.

Federal Reserve Chair Janet Yellen is set to deliver a speech on the state of the job market at the University of Baltimore at 1:30 p.m. ET today.

The Dow Jones Industrial Average rose 0.24% to 19,890.54, the S&P 500 increased 0.19% to 2,262.40 and the Nasdaq composite index gained 0.52% to 5,465.25.

Meanwhile, the SNL U.S. Bank Index was down 0.48% to 529.54, and the SNL U.S. Thrift Index added 0.09% to 967.89 around midday.

The nation's biggest banks were trading lower around midday. Wells Fargo & Co. slid 0.92% to $54.83, Bank of America Corp. declined 0.88% to $22.46, Citigroup Inc. edged 0.90% lower to $59.21, and JPMorgan Chase & Co. was down 0.41% to $84.59.

Among notable movers in the banking industry, Northwest Bancshares Inc. retreated 2.87% to $17.96 and Ameris Bancorp fell 3.54% to $43.55.

In the thrift space, New York Community Bancorp Inc. was flat at $17.18, and BofI Holding Inc. improved 2.96% to $28.15.

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