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Banking News: Bank of America Corp (BAC) Analyst Favorite, JPMorgan Chase & Co. (JPM) & Wells Fargo & Co (WFC)’s Legal Challenges

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Editor’s Note: Related tickers: Bank of America Corp (NYSE:BAC), JPMorgan Chase & Co. (NYSE:JPM), Wells Fargo & Co (NYSE:WFC), Priceline.com Inc (NASDAQ:PCLN)

Bank of America Corp (NYSE:BAC)See How Bank of America Ranks Among Analysts’ Top Dow 30 Picks (Forbes)
A study of analyst recommendations at the major brokerages shows that Bank of America Corp (NYSE:BAC) is the #24 broker pick, on average, out of the 30 stocks making up the Dow Jones Industrial Average, according to ETF Channel. Within the broader S&P 500, when components were ranked in terms of analyst favorites, Bank of America Corp (NYSE:BAC) claims the #389 spot. …Bank of America Corp (NYSE:BAC) operates in the Banking & Savings sector, among companies like Wells Fargo & Co (NYSE:WFC) which is off about 0.2% today, and JPMorgan Chase & Co. (NYSE:JPM) trading lower by about 0.1%. Below is a three month price history chart comparing the stock performance of Bank of America Corp (NYSE:BAC), versus Wells Fargo & Co (NYSE:WFC) and JPMorgan Chase & Co. (NYSE:JPM).

JP Morgan Pays $410 Million For Enron-Style Manipulation Of Energy Market (Firedoglake)
It’s the same old song. JPMorgan Chase & Co. (NYSE:JPM) has been caught once again breaking the rules to snatch profits and will only have to pay a small portion of its loot to make it all go away. No criminal prosecutions and no reforms, just a speeding ticket on the bankster highway. …JPMorgan Chase & Co. (NYSE:JPM)’s share price has, not surprisingly, been largely unaffected by the entire case. Everyone knows there is no real consequences anymore when the Too Big To Jail banks break the law.

Wells Fargo Insurance Launches Intellectual Property Financial Protection Products (InsuranceJournal)
Wells Fargo & Co (NYSE:WFC) Insurance, part of Wells Fargo & Co (NYSE:WFC) has launched two new insurance products from its Professional Risk Group, Intellectual Property Risk Mitigation Practice (IPRMP): revENSUREand ANDAfend. “Both products were designed to protect a company’s expected revenues from legal challenges to the intellectual property supporting its sales or licensing,” said Chris Sclimenti, Ph.D., national practice leader for IPRMP.

BofA Merrill Lynch Works platform cuts card application time by 50 percent (Finextra)
Bank of America Corp (NYSE:BAC) Merrill Lynch, a leader in commercial card and payables solutions, today announced additional functionality to the card management tool, Works®. The new solution, Online Account Request, simplifies the card application process by providing an electronic means to request a card and reducing new card application processing time by as much as 50 percent. …Over the last four years, Bank of America Corp (NYSE:BAC) Merrill Lynch, one of the leaders in global corporate travel card, has invested over $1.2 billion in its Global Transactions Services platform where corporate cards reside.

Strong week for equity inflows (CNBC)

JPMorgan Chase & Co. Reiterates “$1,040.00? Price Target for priceline.com (PCLN) (UtahPeoplesPost)
Research analysts at JPMorgan Chase & Co. (NYSE:JPM) set a $1,040.00 price objective on shares of Priceline.com Inc (NASDAQ:PCLN) stock in a report released on Monday, Analyst Ratings Network reports. JPMorgan Chase & Co. (NYSE:JPM)’s price target would indicate a potential upside of 14.49% from the stock’s previous close. Shares of Priceline.com Inc (NASDAQ:PCLN) opened at 908.36 on Monday. Priceline.com Inc (NASDAQ:PCLN) has a 52 week low of $553.42 and a 52 week high of $926.40. The stock’s 50-day moving average is currently $868.2. The company has a market cap of $45.473 billion and a P/E ratio of 31.45.

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