BOWLING GREEN - The stock of Sky Financial Group Inc. slipped nearly 4 percent yesterday after a downgrade by an analyst and last week's announcement that the company reduced its first-quarter earnings forecast.
The bank holding company's stock closed yesterday at $26.94, down 99 cents, in trading on the Nasdaq exchange. Trading volume was heavy, with nearly 1 million shares, about four times normal, changing hands.
KeyBanc Capital Markets/McDonalds yesterday downgraded the stock from buy to hold. On Friday, the company cited two bad commercial loans in saying its first-quarter earnings, to be released next month, will be 29 to 30 cents a share, compared with 44 to 45 cents a share originally projected.