Financial stocks were flat Tuesday, though a couple of large banking companies rose after their ratings were upgraded.

The KBW Bank Index was unchanged at 44.48.

Citigroup Inc. analysts upgraded BB&T Corp. and Fifth Third Bancorp to "buy," from "hold," calling the shares undervalued. Citigroup also said that large U.S. banks had booked more than half of the losses they will endure from the financial crisis.

BB&T rose 2.81% and Fifth Third rose 0.99%. Other gainers included Bank of America Corp., up 0.32%, and U.S. Bancorp, up 0.087%.

Others fared less well. PNC Financial Services Group Inc. fell 1.35%, JPMorgan Chase & Co. fell 0.64%, Wells Fargo & Co. fell 0.18% and SunTrust Banks Inc. fell 1.82%.

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