4 Financial Stock Stories to Take to the Bank

JPMorgan Chase & Co. (NYSE:JPM): Current price $53.20

JPMorgan Chase’s shareholders have soundly tossed a proposal to split Jamie Dimon’s two top jobs in the Wall Street bank. Chief Executive Dimon can now keep is position as chairman as well, as the vote to take it from him garnered a mere 32.2 percent, which was actually down from the approximate 40 percent supporting a similar move in 2012. Concurrently on Tuesday, all 11 directors of the bank’s board were re-elected.

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Bank of America Corporation (NYSE:BAC): Current price $13.47

On Tuesday, Charlotte-based BofA announced an underwritten public offering of depositary shares, each representing a 1/25th interest in a share of its Non-Cumulative Perpetual Preferred Stock, Series U, having a liquidation preference of $25,000 per share, which is equivalent to $1,000 per depositary share. Bank of America Merrill Lynch will serve as sole book-running manager for the offering. The company will use any net proceeds from the sale of the depositary shares to redeem its outstanding 7.25 percent Non-Cumulative Preferred Stock, Series J, 6.70 percent Noncumulative Perpetual Preferred Stock, Series 6, and 6.25 percent Noncumulative Perpetual Preferred Stock, Series 7.

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Citigroup (NYSE:C): Current price $51.83

Via its Treasury and Trade Solutions unit, Citi announces an important investment in its Commercial Card issuing division through the intro of its Global Issuing platform in the Latin America region. The first location to adopt the tech will be Puerto Rico, establishing Citigroup as the first local Commercial Card Issuer to provide a chip card solution into that market. The firm’s clients continue to swell internationally, and this proprietary operating environment offers a unified world platform that makes truly consistent and cutting edge card programs easier.

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IntercontinentalExchange (NYSE:ICE): Current price $174.12

ICE has formally requested a European Union okay for its plans to acquire NYSE Euronext (NYSE:NYX), 15 months subsequent to regulators disallowing Deutsche Boerse’s purchase of the New York Stock Exchange operator. In April, the EU regulator announced that it would review the exchange’s plans after national regulators failed to object to it taking the lead. The formal filing by ICE was made on May 17, and thus generated an initial deadline of June 24 for the EU to rule on the proposed transaction, according to the European Commission website on Tuesday.

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Don’t Miss: JPMorgan’s Dimon Is Staying in Power.

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