Bank of America’s stock closed 3.4% higher on Thursday after an analyst from Citigroup issued an upgrade. That made it the best performing stock on the Mortgage Industry Equity Composite.
Only five of the 17 MIEC stocks closed higher than they did on Tuesday, with PennyMac Mortgage Investment Trust ending the trading day with a 2% gain. Astoria Financial gained 1.3%. The other gainers were PHH and OceanFirst Financial.
Bank of Hawaii had the largest decline, down 1.9%, followed by Fiserv and Dime Community, both of which closed 1.4% lower.