4 Financial Stock Stories to Kick Off the Halloween Trading Week
Morgan Stanley (NYSE:MS): Current price $29.02
Morgan Stanley is among firms that the Mexican lender Banco del Bajio SA has to conduct its initial public offering. Citigroup Inc., Bank of America Corp., and Banco Bilbao Vizcaya Argentaria SA ar the others say two knowledgeable sources, who predict that the IPO likely will occur in 2014. Banco del Bajio, based in the central Mexican city of Leon, requested earlier in 2013 that investment banks assemble proposals for the sale, said the sources.
Wells Fargo & Co. (NYSE:WFC): Current price $42.86
For the fifth consecutive year, Wells Fargo is America’s number one SBA lender in dollar volume, having approved a record amount of $1.47 billion in SBA 7A loans for small businesses in federal fiscal year 2013 ended September 30. The firm increased its dollar volume of SBA 7A loans by 18.3 percent year-over-year. An SBA preferred lender in all 50 states, Wells Fargo is also the second biggest SBA lender by units, extending 3,481 SBA 7A loans in federal fiscal year 2013. Besides that, the company also provided more small business financing through SBA 504 real estate and equipment loans, extending 211 SBA 504 loans over the last year totaling in excess of $248 million.
American International Group Inc. (NYSE:AIG): Current price $51.29
On Monday, AIG announced that it has named Seraina Maag as the new President and Chief Executive of its Europe, Middle East, and Africa region, effective November 11. Maag comes to AIG from the XL Group, at which she was Chief Executive, North American Property & Casualty, and also held worldwide responsibility for Excess Casualty and Surety.
Royal Bank of Canada (NYSE:RY): Current price $66.64
Royal Bank of Canada on Monday said that the Toronto Stock Exchange has confirmed its normal course issuer bid to purchase, for cancellation, as many as 30 million of its common shares. The shares that may be repurchased comprise roughly 2.1 per cent of the bank’s outstanding common shares. As of October 18, there were 1,440,955,597 common shares of the bank outstanding. Purchases under the normal course issuer bid might begin on November 1, and continue until October 31, 2014, at which time the bid expires.