On Tuesday, the Federal Deposit Insurance Corp. reported the U.S. banking industry posted earnings of $36.0 billion in the third quarter of 2013, which was 3.9 percent lower when compared to the third quarter of 2012. "While industry revenue was lower, due in large part to a reduction in mortgage originations caused by higher interest rates, today's report shows further progress in the gradual recovery of the banking industry," FDIC Chairman Martin Gruenberg told reporters at a recent news conference. Additionally, the FDIC reported that the number of banks on its problem watch list had decreased by 38 when compared to the previous quarter. Here is how some banking stocks reacted Tuesday:
BB&T Corporation (NYSE: BBT) shares traded in the range of $34.75 to $35.07 Tuesday before settling to close at $35.01, an increase of 0.40 percent. The stock appears to be facing some resistance at the $35.24 and $35.80 levels with some support at $34.86. Shares of BB&T have gained approximately 20.0 percent in 2013.
More information on BB&T and access to the free equity report can be found at:
www.WallStreetFundamentals.com/BBT
PNC Financial Services Group Inc. (NYSE: PNC) shares traded in the range of $76.17 to $76.85 Tuesday before settling to close at $76.61, an increase of 0.38 percent. The stock appears to be facing some resistance at the $76.64 and $77.27 levels with some support at $76.19. Shares of PNC Financial Services Group have gained approximately 30.0 percent in 2013.
More information on PNC Financial Services Group and access to the free equity report can be found at:
www.WallStreetFundamentals.com/PNC
SunTrust Banks, Inc. (NYSE: STI) shares traded in the range of $36.37 to $36.69 Tuesday before settling to close at $36.48, an increase of 0.05 percent. The stock appears to have some support at the $36.38, $35.78 and $35.48 levels. Shares of SunTrust Banks have gained approximately 28.0 percent in 2013.
More information on SunTrust Banks and access to the free equity report can be found at:
www.WallStreetFundamentals.com/STI
U.S. Bancorp (NYSE: USB) shares traded in the range of $39.19 to $39.48 Tuesday before settling to close at $39.27, an increase of 0.15 percent. The stock appears to have some support at the $39.01, $38.05 and $37.71 levels. Shares of U.S. Bancorp have gained approximately 23.0 percent in 2013.
More information on U.S. Bancorp and access to the free equity report can be found at:
www.WallStreetFundamentals.com/USB
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