The stock of Central Fidelity Banks continued to trade heavily Wednesday as the market absorbed Tuesday's offering of three million shares of new stock.
Initially, Central Fidelity bucked the general trend on the stock market Wednesday, gaining as much as $1.50 in intraday trades. The stock finished the day unchanged at $34.50 as the Dow slid 19.18, to 3,365.14.
The well-capitalized Richmond, Va., bank was the most active bank issue on Tuesday, when more than a million shares changed hands. Volume was closer to normal Wednesday, with 153,500 shares traded.
Otherwise, trading in bank stocks was listless.
Chemical Banking Corp. lost 87.5 cents, reaching $33.50.
But Bankers Trust New York Corp. gained 62.5 cents, to $61.75; Bank of New
York Corp. climbed 87.5 cents, at $42.625; and Mellon Bank rose 87.5 cents, to $42.50.