Bank stocks were mixed in cautious trading on Tuesday as investors were preoccupied by a meeting of the Federal Reserve System's policymaking open market committee.
The June employment report by the federal government, due on Friday, is also contributing to lack of enthusiasm in a trading week shortened by the Independence Day holiday.
Some banks gained ground, notably First Interstate Bancorp, up 87.5 cents to $77.375, PNC Bank Corp., up 62.5 cents to $29.75, and boatmen's Bancshares, up 62.5 cents to $32.25.
Others backtracked. NationsBank Corp. fell 50 cents to $51.25, Bankers Trust New York Corp. slipped 62.5 cents to $66.75, and First of America Bank Corp. eased 25 cents to $35.25.
Shares of Worthen Banking corp., Little Rock, were off 75 cents to $29.50. The bank, a rumored takeover target, said last week it has hired PaineWebber Inc. to help it evaluate "strategic alternatives" and determine what is in the best interests "of the company and all its shareholders."