Bank of America Corp (NYSE:BAC), the second-largest U.S. lender, is cutting 450 mortgage jobs from West Coast offices after new loans fell short of internal forecasts, two people with direct knowledge of the plans said. Afected employees were told yesterday about the eliminations, which involve workers who process new home loans, said the people, who asked for anonymity because the dismissals haven’t been made public. California locations that will lose workers include an office in Concord, and another in Pasadena that will be shut entirely, the people said. Bank of America Corp (NYSE:BAC) stock opened at $16.74 in last trading session, and closed at $16.70, trading in the range of $16.65 – $16.76. The stock showed a negative weekly performance of -0.71%.
Citigroup Inc (NYSE:C) announced the commencement of offers to purchase for cash certain of its notes of the series set forth in the table below (each offer with respect to any series set forth in the table below, an “Offer” and, collectively, the “Offers”). We refer to our offer to purchase each series of Notes as an “Offer” and collectively as the “Offers.” The Notes have an aggregate principal amount outstanding of approximately U.S. $1.5 billion as of February 13, 2014. These Offers, currently totaling up to U.S. $230,000,000, are consistent with Citigroup’s liability management strategy, and reflect its ongoing efforts to enhance the efficiency of its funding and capital structure. In 2013, Citigroup redeemed U.S. $12 billion of securities reducing its overall funding costs. Citigroup Inc (NYSE:C) shares closed at $49.52 on last trade day, by losing -0.68%. Stock 52 week range is $40.28 – $55.28. Company’s market capitalization is $150.01 billion.
JPMorgan Chase & Co. (NYSE:JPM) has spent much of the last several years in the spotlight of policymakers and regulators, although as the country’s largest bank that’s perhaps unsurprising. In the industry’s state of flux – new Dodd-Frank legislation, scrutiny from the Consumer Financial Protection Bureau and wary consumers – it’s garnered extra attention along with the rest of the big four, Wells Fargo & Co. (NYSE:WFC), Bank of America Corp. (NYSE:BAC) and Citigroup Inc. (NYSE:C) . JPMorgan Chase & Co. (NYSE:JPM) stock advanced 0.21% and finished the last session at $58.15. The EPS of the stock remained 4.36. Company’s market capitalization is $218.42 billion.
American International Group Inc (NYSE:AIG)‘s stock had its “outperform” rating restated by Zacks in a research report issued to clients and investors on Friday, StockRatingsNetwork.com reports. They currently have a $60.00 target price on the stock. Zacks‘ price objective would suggest a potential upside of 21.31% from the company’s current price. American International Group Inc (NYSE:AIG) stock opened at $48.90 in last trading session and closed at $48.98. The 52 week range of the stock is $36.68 – $53.33 and the day range was $48.00 – $49.23.