Financial Winners and Losers: JPMorgan

(Updated with closing stock prices throughout)

Bank stocks finished mostly lower Tuesday, as a report said JPMorgan Chase (JPM Quote) is the latest company to mull raising base salaries for some workers.

The New York Post reported that JPMorgan CEO Jamie Dimon is considering raising the base salaries for investment bankers in order to remain competitive, at the same time avoiding big bonuses, similar to a plan by competitor Citigroup (C Quote).

The final composition of those pay packages has not been finalized and the compensation structure may not be changed, the Post report said, citing sources familiar with the matter.

Meanwhile, UBS resumed coverage of several financial stocks, with analyst Glenn Schorr assigning a neutral rating to JPMorgan and Citigroup, as well as Bank of New York Mellon (BK Quote), Greenhill (GHL Quote), Morgan Stanley (MS Quote), Northern Trust (NTRS Quote) and State Street (STT Quote). Schorr also resumed coverage of Goldman Sachs (GS Quote) with a buy rating.

Among Schorr's abbreviated notes, he said lingering issues still overshadow solid core business trends at Bank of New York Mellon, there is still work to be done at Citigroup, Greenhill is well positioned but fairly valued, JPMorgan is very well positioned but faces strong credit headwinds, Morgan Stanley is still in transition, Northern Trust's great competitive position is trumped by low rates, and State Street's exposure keeps a lid on further multiple expansion.

Schorr added that Goldman Sachs is still a cut above, and he assigned a stock price target of $175.

State Street shed 2.5% to $47.29, Morgan Stanley lost 2% to $28.53, Citigroup was down 1.7% to $2.97, JPMorgan shares shed 1.4% to $34.11, Bank of New York Mellon ended lower by 1.4% at $29.31, Greenhill slumped 1.3% to $71.99, Goldman Sachs slipped 1.3% to $147.44, and Northern Trust dipped 0.6% to $53.68.