Bank stocks seesawed Wednesday on mixed economic data, and the KBW Bank Index closed down 0.71%.

The National Association of Realtors said Wednesday that its May index of pending homes sales rose 0.1% from April, to 90.7, in line with analysts' estimates.

However, the Commerce Department said that construction spending fell 0.9% in May. Economists on average had expected a 0.5% decline.

Meanwhile, the Institute for Supply Management said its manufacturing index was 44.8 in June, up from 42.8 in May. Analysts on average had expected 44.5.

Decliners Wednesday included JPMorgan Chase & Co., off 0.9%; Bank of America Corp., 1.1%; Wells Fargo & Co., 0.5%; PNC Financial Services Group Inc., 1.3%; U.S. Bancorp, 1.9%; SunTrust Banks Inc., 0.7%; BB&T Corp., 1.3%, and Marshall & Ilsley Corp., 2.1%.

Gainers included Comerica Inc., up 1.2%; M&T Bank Corp., 0.5%, and Valley National Bancorp in Wayne, N.J., 2.5%.

Citigroup Inc. closed unchanged from Tuesday's close of $2.97 a share.

KeyCorp fell 1.5%. The Cleveland company announced the results of its preferred securities exchange and said it had surpassed its $1.8 billion target for additional capital established by the government's stress test.

The Dow Jones industrial average rose 0.68%, and the Standard & Poor's 500 index was up 0.44%.

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