4 Financial Stock Stories To Bank On
The Royal Bank of Scotland Group (NYSE:RBS): Current price $11.05
American authorities want a resolution of interest-rate-rigging claims with The Royal Bank of Scotland which would result in its division pleading guilty to criminal charges along with paying a penalty, say sources briefed on the negotiations. However, RBS executives are against any sort of guilty plea, worrying that it could put off the bank’s clients and also that it could increase its exposure to expensive litigation. At the same time, the negotiations show a newly tough stance by United States authorities, who do not want to be criticized for softness on white-collar crimes.
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Bank of America Corporation (NYSE:BAC): Current price $11.47
The analyst Dick Bove at Rafferty Capital Markets says that shares of Bank of America, Citigroup, and J.P. Morgan Chase & Co. will grow by more than 30 percent in the next 12 months, due to strengthening economic growth, higher quality of assets, and better liquidity boost their businesses. Bove recently joined Rafferty and made the predictions in a new report set to be released Wednesday. Further, he anticipates impressive growth for the majority of the banking industry and expects to see many banks significantly hiking their dividends.
Goldman Sachs Group (NYSE:GS): Current price $147.23
Goldman Sachs wants to divest more of its shares in Industrial and Commercial Bank of China for the fifth time in recent years, says The Financial Times, which added that the firm was offering $1 billion worth of ICBC stock at a 3 percent discount to its close in Hong Kong on Monday, according to an inside source.
JPMorgan Chase & Co. (NYSE:JPM): Current price $47.28
Sources report that JPMorgan analysts Yoshiharu Izumi and Nobuhito Owaki, based in Tokyo, are exiting the firm, says Bloomberg. Izumi is an executive director who managed industrial and consumer electronics firms, and Owaki was a chemicals analyst.