Active Bank Stocks Jan 27th: BofA, JP Morgan, Morgan Stanley, TD, US Bancorp
Bank of America Corporation (NYSE:BAC): The European Commission will tell Treasury Secretary Timothy Geithner that the so-called “Volcker rule,” which would restrict U.S. banks from making bets with their own capital, could increase funding costs for the region’s governments and worsen its crisis, according to an interview with Michel Barnier, the European commissioner for the internal market, reported The Wall Street Journal. Shares of Bank of America Corporation are trading 0.27% lower today.
JP Morgan (NYSE:JPM): JPMorgan chief Jamie Dimon has again claimed that the bank stayed in the eurozone periphery for “social reasons” and that they are not motivated solely by profit, according to the Telegraph.
Morgan Stanley (NYSE:MS): Atlantic Equities believes Morgan Stanley has seen little improvement since Q4 and views valuation as stretched. Price target is $18.
Toronto-Dominion Bank (NYSE:TD): Toronto-Dominion Bank thought to be one of several banks to have bid on BankUnited (NYSE:BKU), may have to wait before it gets another opportunity after BankUnited CEO John Kanas said the bank isn’t planning on a sale anytime soon, after ending an auction process last week, reports the Globe and Mail.
U.S. Bancorp (NYSE:USB): Atlantic Equity upgraded UBS citing improved loan growth. Price target is $30.
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