By Sam Mamudi, MarketWatch
NEW YORK (MarketWatch) — Shares of SunTrust Banks Inc. retreated more than 3% Monday as third-quarter results worried investors.
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Atlanta-based SunTrust /quotes/zigman/242272/quotes/nls/sti STI +1.28% saw its third-quarter profit rise. However, if adjusted to strip out securities impacts, quarterly revenue fell, net-interest margin narrowed and its mortgage-repurchase reserve grew. See: SunTrust Banks profit rises on securities gain.
SunTrust’s decline came on an otherwise flat session for the leading financial stocks. The Financial Select Sector SPDR exchange-traded fund /quotes/zigman/246222/quotes/nls/xlf XLF +0.63% finished unchanged Monday from the previous trading session.
Among other financial decliners were shares of J.P. Morgan Chase & Co. /quotes/zigman/272085/quotes/nls/jpm JPM +0.48% , down 0.5%; and regional banks U.S. Bancorp /quotes/zigman/278238/quotes/nls/usb USB +0.34% , off 0.2%, and BB&T Corp. /quotes/zigman/180308/quotes/nls/bbt BBT +0.82% , shedding 1.4%.
Among Monday’s sector gainers, Citigroup Inc. /quotes/zigman/5065548/quotes/nls/c C +1.32% closed up 1.5% — putting month-to-date gains at about 15% — as Bank of America Corp. /quotes/zigman/190927/quotes/nls/bac BAC +0.45% tacked on 1.2%, and Huntington Bancshares Inc. /quotes/zigman/73472/quotes/nls/hban HBAN +0.79% managed a modest advance, rising 0.2%.