4 Financial Stock Stories To Take To The Bank

Wells Fargo & Co. (NYSE:WFC): Closing price $37.15

Analyst Vivek Juneja at JPMorgan Chase believes that although Wells Fargo is faced a large slump in mortgage origination income, almost all of that decline will be outweighed by other mortgage items.  Out of the Big Four domestic banks, also including JPMorgan Chase, Bank of America Corporation and Citigroup, Wells Fargo has outperformed, with returns on average assets climbing steadily during the past four years, from 0.97 percent to 1.41 percent, says Thomson Reuters Bank Insight. Further, in the same period, the bank’s return on average tangible common equity ranged from 16.32 percent to 16.95 percent.

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WFC

NYSE Euronext (NYSE:NYX): Closing price $37.31

France would like for banks to create a group of core shareholders in the Euronext European stock market operator, if it gets spun off in 2014 in a public offering but faces opposition from lenders, according to the French daily Les Echos, which cited an inside source as saying that Paris would like a group of banks to enter Euronext’s capital through a private placement at the time of the public offering.” The aim is to secure a stable shareholder structure for Euronext, which operates the Brussels, Paris, Amsterdam and Lisbon exchanges, sheltering it from potential takeover attempts.

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NYX

MetLife (NYSE:MET): Closing price $36.57

On Friday, the insurer announced that Cetera Advisor Networks will purchase Tower Square Securities and Walnut Street Securities. Financials of the transaction were not reported. Tower Square Securities and Walnut Street Securities are independent broker-dealer affiliates of MetLife. All told, the parties had roughly $25 billion in assets under management and 850 advisors as of December 31. Cetera Advisor Networks is one of four broker-dealers owned by Cetera Financial Group, which is one of the country’s biggest privately-held, independent broker-dealer and investment adviser families.

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MET

JPMorgan Chase & Co. (NYSE:JPM): Closing price $47.92

One of J.P. Morgan Chase & Co.’s most senior bankers in Asia Pacific, Kester Ng, is exiting investment banking following over 20 years in the industry, according to a knowledgeable source. Ng served most recently as J.P. Morgan’s chairman of Asian equity capital markets, which he held for more than a year. He joined the firm seven years ago from Merrill Lynch.

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JPM

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