Over the last five trading days, banks were seen undertaking measures to combat the adverse impact of several macroeconomic concerns. Restructuring activities of banks are likely to support their financials amid a challenging operating environment.Though capital markets are gradually stabilizing, the overall scenario is still pessimistic. This has, raised fresh doubts about the timing of the next rate hike by the Federal Reserve. Therefore, top line pressure for banks is expected to persist for some time.Moreover, banks continue to face legal headwinds. Fast resolution of legal matters is expected to help banks to focus on improving profitability over time.(Read: Bank Stock Roundup for the week ending May 6, 2016)Important Developments of the Week1. Amid heightened regulatory scrutiny and focus on core operations, Citigroup Inc. C is planning to divest its electronic market-making unit, Automated Trading Desk. Per a Bloomberg report, Chicago-based Citadel Securities has emerged as the potential buyer and Citigroup is in advanced talks with it (read more: Citigroup to Sell Automated Trading Desk to Citadel?).2. As traditional lending faces competitive pressure from the burgeoning online lenders, Wells Fargo & Company WFC launched its own online small-business loan product – FastFlex. The new loan offering that will be available to existing customers later this month is “funded as soon as the next business day” (read more: Wells Fargo Launches FastFlex to Offer Online Lending).3. JPMorgan Chase & Co.’s JPM $150 million accord to settle investor claims related to the London Whale case was approved by the U.S. District Judge George Daniels in New York. The approval will bring an end to a suit filed in 2012, which accused the bank officials of insufficient actions to avoid losses in the London Whale trading scandal (read more: JPMorgan's "London Whale" Accord Gets Judge Approval).Price PerformanceOverall, the performance of banking stocks was skewed towards positive side. Here is how the seven major stocks performed: CompanyLast Week6 monthsJPM0.3%-5.1%BAC0.2%-18.1%WFC0.4%-9.4%C-0.9%-17.5%COF0.5%-9.3%USB0.4%-0.6%PNC0.7%-6.5% In the last five trading sessions, The PNC Financial Services Group, Inc. PNC and Capital One Financial Corp. COF were the top gainers, with their shares inching up 0.7% and 0.5%, respectively. However, Citigroup declined 0.9%.Over the last six months, Bank of America Corp. BAC and Citigroup were the worst performers with their shares losing 18.1% and 17.5%, respectively. Also, Wells Fargo shares fell 9.4%.What's Next in the Banking Space?Over the next five trading days, performance of banking stocks is expected to remain the same, unless any unforeseen event occurs.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report JPMORGAN CHASE (JPM): Free Stock Analysis Report PNC FINL SVC CP (PNC): Free Stock Analysis Report WELLS FARGO-NEW (WFC): Free Stock Analysis Report CITIGROUP INC (C): Free Stock Analysis Report BANK OF AMER CP (BAC): Free Stock Analysis Report CAPITAL ONE FIN (COF): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research