4 Financial Stock Stories for Investors to Take to the Bank
Wells Fargo & Company (NYSE:WFC): Closing price $35.04
On Tuesday, the firm announced a quarterly common stock dividend of $.25 per share, marking a rise of 3 cents, or 14 percent, per share from the third quarter. The dividend is payable March 1st, to stockholders of record on February 1st, as approved by the Wells Fargo board of directors the firm has approximately 5.3 billion shares outstanding.
Barclays (NYSE:BCS): Closing price $19.00
The United Kingdom’s number-two bank, has begun consultations with 9,000 domestic employees as it gets ready to slash jobs at its investment bank. On Tuesday, the firm sent a memorandum to employees, described by a spokesperson as an “exercise being carried out so that we can start to effect some of the strategic changes.” The results will be announced on February 12th. Chief Executive Antony Jenkins is remaking the culture at the bank and concentrating on more profitable businesses in the face of tougher capital requirements and banking scandals.
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Invesco Mortgage Capital (NYSE:IVR): Closing price $21.77
Invesco said Tuesday that it will make a public offering of 15 million shares of its common stock, and will allow the underwriters a 30-day option to buy up to an additional 2.25 million shares. The underwriters are permitted offer the common stock periodically in one or more transactions in the over-the-counter market, or through negotiated transactions at market prices or at negotiated prices. The firm will use the net proceeds to make additional purchases of residential and commercial mortgage-backed securities and mortgage loans, on a leveraged basis, and also for other general corporate purposes.
Legg Mason (NYSE:LM): Closing price $28.08
In a Tuesday securities filing, the asset manager Legg Mason reported that it would take pretax charges of $734 million in the most recent quarter, in line with its prior estimate, to account for factors including writing down asset values, and uncertainly around its stock price and the search for a new chief executive. Earlier in January, Reuters reported that the firm had been approached by some of its senior managers and private equity firms, in regards to plans to take it private, which option its board rejected at least until it finds a new chief executive.
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