|
|
Article: Market value of top 100 fell 2.6% in second quarter. (banking survey)
- Article from:
- American Banker
- Article date:
- July 15, 1993
- Author:
CopyrightCOPYRIGHT 1993 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
The market value of the 100 top banks fell $7.1 billion, or 2.6%, in the second quarter, the first such drop since the third quarter on 1992.
First Boston Corp. said the decline is the steepest since the $11 billion drop in the last quarter of 1987, when the stock market crashed.
The market value of the 100 largest banks totaled $271.1 billion, versus $278.1 billion in the first quarter, according to SNL Securities. The 100 banks were ranked by market value.
Reliable Gauge
Market value is a company's stock price multiplied by its shares outstanding. It represents a reliable gauge of a company's market strength and ability to acquire ...