Financial Stocks On the Move: Wells Fargo (NYSE:WFC), Bank of America Corporation (NYSE:BAC), JPMorgan Chase & Co. (NYSE:JPM)

Reports are out this morning that Wells Fargo (NYSE:WFC) is being accused by New York attorney general of fabricating foreclosure documents. Despite this the company’s shares are up 1.54% nearing the top end of the 52-week range. The company has a dividend yield of 1.20 and a price to earnings ration of 12.35. Wells Fargo (NYSE:WFC) has an EPS of 3.98.

Bank of America Corporation (NYSE:BAC) today announced the Board of Directors authorized a regular quarterly cash dividend of $18.125 per share. Bank of America is trading up 1.79% just below the top if its 52-week range. The company has an EPS of $.90 and a market cap of 180.72 billion. Bank of America (NYSE:BAC) has its next earnings scheduled for April 16th 2014.

JPMorgan (NYSE:JPM) reports February net credit losses 2.82% vs. 2.91% last month. The company reports February delinquency rate 1.58% vs. 1.57% last month. JPMorgan Chase & Co. (NYSE:JPM) is trading up 1.37%, closing at $57.58. JPM is expected to report earnings mid April and has a p/e ratio of 13.22. The company has a market cap of 216.25 and a one year target estimate of 65.51.

In Other News

Apple (NASDAQ:AAPL) is trending slightly higher in Monday trade, subject of an upbeat analyst note about pent up iPhone demand and other coverage.

Brian Marshall of ISI Group wrote in an investor note that he believes “pent-up demand” for a larger iPhone could drive $3.00 in additional earnings per share for the stock, reported. Marshall rates AAPL a strong buy with a price target of $600 per share.

Apple (AAPL) is widely expected to release two new iPhones this year, one with a 4.7-inch display and one with possibly a larger 5.5-inch display. In other news, several sources state a German blog leaked information that Apple is set to release a 8GB version of its iPhone 5C in an attempt to lure low-tier smartphone shoppers.



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