3 Financial Stock Stories To Take To The Bank

JPMorgan Chase & Co. (NYSE:JPM): Closing price $48.69

It seems that for the big banks, nothing is ever enough. Although the industry reported its best results since 2006, the six biggest domestic banks announced plans in the first three months of 2013 to slash around 21,000 positions, or 1.8 percent of their combined workforce, said data compiled by Bloomberg. the figure represents the most since 2011’s third quarter. JPMorgan, whose 259,000 employees produced three consecutive years of record profit, was at the top of the list with 17,000 reductions scheduled by the end of 2014.

Are these stocks a buy or sell? Let us help you decide. Check out our Stock Picker Newsletter now.

JPM

Bank of America Corporation (NYSE:BAC): Closing price $12.25

Pursuant to an agreement reached by the Office of the Comptroller of the Currency and the Federal Reserve Board, with 13 mortgage servicers, payments to some 4.2 million borrowers are set to begin on April 12. The accord was made earlier in 2013, and provides $3.6 billion in cash payments to borrowers whose homes were in any stage of the foreclosure process in 2009 or 2010, and whose mortgages were serviced by one of the following firms, their affiliates, or subsidiaries: Bank of America, Aurora, Citibank, Goldman Sachs Group, HSBC Holdings, JPMorgan Chase, MetLife Bank, Morgan Stanley, PNC, Sovereign, SunTrust, U.S. Bank, and Wells Fargo & Co. (NYSE:WFC).

Are these stocks a buy or sell? Let us help you decide. Check out our Stock Picker Newsletter now.

BAC

Medley Capital Corporation (NASDAQ:MCC): Closing price $14.70

Medley has announced the beginning of a registered public offering of 4 million shares of its common stock, and says that it will also grant the underwriters a 30-day option to buy up to an additional 600,000 shares sold at the public offering price.  The firm intends to use the net proceeds to repay a portion of the outstanding indebtedness under its revolving credit facility, pay for new investment opportunities and for general corporate purposes.

Are these stocks a buy or sell? Let us help you decide. Check out our Stock Picker Newsletter now.

MCC

Investing Insights: Does Citigroup Support Higher Prices?

More from The Cheat Sheet