(Updated with closing stock prices throughout)

Bank stocks finished mostly lower Tuesday, as a report said

JPMorgan Chase

(JPM) - Get JPMorgan Chase & Co. (JPM) Report

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


(C) - Get Citigroup Inc. Report


The final composition of those pay packages has not been finalized and the compensation structure may not be changed, the


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) - Get Bank of New York Mellon Corporation Report



(GHL) - Get Greenhill & Co., Inc. Report


Morgan Stanley

(MS) - Get Morgan Stanley (MS) Report


TheStreet Recommends

Northern Trust

(NTRS) - Get Northern Trust Corporation Report


State Street

(STT) - Get State Street Corporation Report

. Schorr also resumed coverage of

Goldman Sachs

(GS) - Get Goldman Sachs Group, Inc. (GS) Report

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.

Bank of New York Mellon was the subject of a research note by Rochdale Securities analyst Dick Bove, who lowered his 2009 estimate for the bank to $1.55 a share from $1.84 a share. Bove said it appears that the cost to Bank of New York Mellon for redeeming their TARP preferreds will be 20 cents a share. Additionally, the bank's special Federal Deposit Insurance Corp. assessment could cost 3 cents a share. The bank has increased its share base by an estimated 42 million shares, Bove said.

On the positive side, Bove raised the price target on Bank of New York Mellon to $42 from $40. He also upped his 2010 estimate slightly to $2.24 a share from $2.23 a share.


American International Group

(AIG) - Get American International Group, Inc. Report

said it will sell the assets of its AIG Credit Card unit in Taiwan to

Far Eastern International Bank

.The transaction, subject to the approval of the Financial Supervisory Commission of the Republic of China, is expected to be completed in the third quarter of 2009. Terms of the transaction were not disclosed. Shares of AIG dropped 12.8% to close at $1.16.


(V) - Get Visa Inc. Class A Report

, meanwhile, announced that it has decided to deposit $700 million into the litigation escrow account previously established under its retrospective responsibility plan. The new addition to the account means Visa will repurchase $700 million of the company's common shares, according to the release. Visa shares closed down 1.1% to $62.26.