JPMorgan Chase (JPM)

[winston]

not vested

JPMorgan

The only other Dow stock to have posted a loss of 10% so far this year is JPMorgan Chase & Co. (NYSE: JPM).

Low interest rates have led to a decline in interest income that reached 9% in the third quarter.

Higher trading revenues have helped offset the low rates, and the arrival of COVID-19 vaccines is expected to lift the bank’s credit card business next year.

JPMorgan stock trades at around $126, roughly equal to its consensus price target but nearly 12% below the 52-week high of $141.10.

The stock’s 52-week low is $76.91.

With expected EPS of nearly $9 in 2021, the shares trade at a multiple of 14 to their current price.

Source: 24/7 Wall Street

[winston]

NOT VESTED

AMERICA'S LARGEST BANK IS EYEING A RECOVERY

Today's company is showing the growing strength in the financial sector...

Regular readers know we like to check on the big banks for a real-time look at our economy. These companies make up America's "financial backbone"...

When they're thriving, it means folks are earning, spending, and investing money. And today's company is giving us another reason for optimism...

JPMorgan Chase (JPM) is America's largest bank by assets. It has a wide reach in the financial sector, covering everything from credit cards and loans to investment banking and asset management.

And for the second straight quarter, it has decreased its provisions for loan losses... which tells us something important. Remember, JPMorgan and other big banks set aside billions of dollars in case customers couldn't pay back their loans due to COVID-19.

So JPMorgan believes the economy is recovering – it doesn't think it needs to hold such high reserves in the near future.

As you can see in today's chart, JPM shares have soared in recent months. The stock is up roughly 80% from its COVID-19 low, recently hitting an all-time high. That's a great sign for the broader economy...

Source: Daily Wealth

[winston]

JPMorgan CEO warns of ‘powerful forces’ threatening U.S. economy into a recession

by Tristan Bove

The ongoing war in Ukraine, high inflation, and the Federal Reserve’s hawkish stance on monetary policy could combine to significantly increase the chances of a recession.

Dimon still predicts a relatively strong and growing economy for the rest of 2022, but he said it is difficult to be certain of the future beyond that.

JPMorgan Chase revealed it had set aside $902 million in credit reserves, ​​“largely due to higher probabilities of downside risks.”

Source: Yahoo Finance

https://finance.yahoo.com/news/jpmorgan ... 26735.html

[behappyalways]

JPMorgan Tumbles After Revenue Miss, Buyback Suspension, Dire Outlook From Jamie Dimon
https://www.zerohedge.com/markets/jpmor ... amie-dimon

[behappyalways]

JPM Beats Thanks To Record Net Interest Income Despite Surge In Credit Loss Provisions, $1 Billion In "Investment Security Losses"
https://www.zerohedge.com/markets/jpm-b ... -1-billion

[winston]

not vested

JPMorgan Chase on Friday posted results that topped analysts’ estimates as the biggest U.S. bank by assets took advantage of rising rates to generate more interest income.

The bank said third-quarter profit fell 17% from a year earlier to $9.74 billion, or $3.12 a share, as the firm added to reserves for bad loans by a net $808 million.

Excluding a 24 cent per share hit tied to losses on investment securities, the bank posted earnings of $3.36 a share, handily topping analysts’ estimate.

Revenue jumped 10% to $33.49 billion in the quarter, thanks to higher interest rates as the Federal Reserve battles inflation.

Net interest income surged 34% to $17.6 billion in the period because of higher rates and an expanding book of loans. That topped analysts’ expectations by more than $600 million.

Shares of the New York-based bank rose 2.6%. JPMorgan CEO Jamie Dimon noted that while consumer and businesses were financially robust in the period, the economic picture was darkening.

Source: Phillips

[behappyalways]

JPMorgan Tricked Into Paying $175 Million For Startup With Millions Of Fake Customers, Bank Claims
https://www.zerohedge.com/political/jpm ... ank-claims



JPM Slides After Missing On Trading And IBanking, Warns Of Macro "Deterioration" As It Boosts Credit Loss Reserves By $1.4BN
https://www.zerohedge.com/markets/jpm-s ... sts-credit

[behappyalways]

JPM Soars After Beating Across The Board, Raising Outlook
https://www.zerohedge.com/markets/jpm-s ... ng-outlook

[behappyalways]

How Jamie Dimon Built Chase Into the U.S.’s Most Powerful Bank | WSJ
https://m.youtube.com/watch?v=kK9_3sXFuYw

[winston]

not vested

2Q Earnings

Keep in mind, this is the biggest bank in the country. No entity is closer to the pulse of the consumer, business and government than JP Morgan.

They reported record revenue, and record net income (if we add back the net $1.5 billion they set aside as provisions for credit losses).

Jamie Dimon said, "almost all of our lines of business saw continued growth in the quarter."

About the economy, Dimon said it continues to be resilient. Consumer balance sheets remain healthy. Consumers are spending. And job growth remains strong.

How is the business customer faring? Commercial banking revenues grew 14%, just over the past quarter.

All of this is taking place into the headwind, and at the tail end, of a 500 basis point Fed tightening cycle.

Source: Billionaire's Portfolio