|Bid||26.92 x 1000|
|Ask||26.96 x 800|
|Day's Range||26.86 - 26.97|
|52 Week Range||24.22 - 27.04|
|Beta (3Y Monthly)||1.14|
|PE Ratio (TTM)||2.90|
|Forward Dividend & Yield||1.44 (5.34%)|
|1y Target Est||N/A|
Goldman Sachs is the third of Wall Street's bulge-bracket banks to report Q2 earnings this week.
Despite strong bank earnings, major stock indexes closed lower Tuesday after President Trump said a U.S.-China trade deal still has "a long way to go."
JPMorgan reported better-than-expected second-quarter earnings early Tuesday, helped by an income tax boost. Goldman Sachs and Wells Fargo also beat.
Investment company Waller Financial Planning Group, Inc (Current Portfolio) buys JPMorgan Chase, sells Vanguard Total Stock Market, Vanguard Growth during the 3-months ended 2019Q2, according to the most recent filings of the investment company, Waller Financial Planning Group, Inc. Continue reading...
Major financial players including JPMorgan Chase & Co. (JPM), Legg Mason Inc. and Capital Group Cos. plan to debut an emerging breed of exchange traded funds (ETFs), called active ETFs, that could dramatically reshape the industry. This effort by traditional stock pickers to attract client funds comes as investors flock to cheaper, passively managed products tied to indexes, as outlined by the Wall Street Journal. Unlike traditional transparent ETFs, these active ETFs, with the first set to debut by year-end, do not need to disclose investments each day.
Curious what investors need to keep a close eye on when it comes to JPMorgan Chase's Earnings report? Here's what Jim Cramer is watching.
The bank’s shares initially traded lower Tuesday morning, but were up 42 cents at $114.32 in mid morning. The early losses came as investors reacted to news that (JPM) reduced its forecast for 2019 net interest income to about $57.5 billion, below the guidance of $58 billion it issued when it disclosed its first-quarter earnings. The scaled-back forecast reflects the impact of anticipated rate cuts by the Federal Reserve.
While the biggest risk ahead is that lower interest rates will pressure banks' bottom lines in the coming months, the squeeze is already beginning. JPMorgan Chase & Co and Wells Fargo & Co both reported drops in net interest margins as they paid more for deposits. JPMorgan, the nation's biggest bank, lowered its outlook for net interest income to "about $57.5 billion" in 2019 from the $58-plus billion it estimated in February. On Monday, Citigroup similarly reported a decline in net interest margin.
Despite its second-quarter earnings beat, JPMorgan Chase (JPM) was trading about 1.6% lower in the premarket session on Tuesday.
JPMorgan is Real Money's Stock of the Day. The financial giant reported earnings this morning, beating on both the top and bottom line. TheStreet's Jacob Sonenshine breaks down what investors need to know....
Big banks continue to grow their profits, but the initial market reaction to earnings from JPMorgan Chase & Co (NYSE: JPM) and Goldman Sachs Group Inc (NYSE: GS) looks mixed early Tuesday. Both of the banks easily beat earnings per share estimates, but that included tax credits and other one-time items. At JPM, it looks like consumer banking was a strong suit, but investment banking and equity trading results came up short of analysts’ estimates.
(Bloomberg) -- JPMorgan Chase & Co. was hit by the Federal Reserve’s about-face on interest rates in the second quarter, warning that lending income will fall in the second half.The largest U.S. bank on Tuesday cut its full-year outlook for net interest income -- revenue from customers’ loan payments minus what the bank pays depositors -- by $500 million. NII accounted for about half the New York-based company’s revenue last year and has countered a slump in trading, which fell for a fourth straight period in the second quarter.JPMorgan joins rivals including Wells Fargo & Co. in cutting the outlook for traditional lending businesses that have benefited from higher rates, which they passed on to borrowers while holding deposit rates low. Fed Chairman Jerome Powell last week opened the door to a July cut in interest rates, citing a cooling global economy and trade friction. It’s a reversal from the start of the year, when investors were betting the Fed would boost rates.Chief Executive Officer Jamie Dimon said worsening prospects for interest income won’t affect the bank’s expansion and investment plans.“NII is like the wind blowing,” Dimon said on a call with journalists. “We’re opening branches, that is not the wind. That is serious expansion of business -- of course we can’t predict the future any better than you can.”Jennifer Piepszak, speaking publicly for the first time in her new role as chief financial officer, said net interest income might decline by as much as $150 million in the third quarter compared with the previous quarter, assuming the Fed cuts interest rates three times this year. She said the number could fall by more than that in the last three months of the year.JPMorgan notched the highest profit in U.S. banking history in 2018, at $32.5 billion, spurred in part by rising interest rates and the Trump administration’s corporate tax cuts. The bank now sees net interest income at about $57.5 billion this year after saying in April it could increase to more than $58 billion.Shares of the company, which climbed 17% this year through Monday, fell 0.3% at 9:49 a.m. in New York trading.Wells Fargo & Co. said Tuesday that its net interest income fell to the lowest level since 2016. At Citigroup Inc., net interest revenue increased 2% in the second quarter, the bank said Monday as it left its full-year growth outlook for the figure unchanged at 4%.JPMorgan’s revenue from stock and bond trading slipped 6% in the second quarter, excluding a one-time gain related to the initial public offering of Tradeweb Markets Inc. Analysts had expected a 5% drop. Fees from underwriting stock and bond offerings and advising on mergers fell 14% to $1.85 billion.Revenue from the corporate and investment bank slipped 3% from last year’s record to $9.6 billion as market uncertainty drove investors to the sidelines and damped corporate sentiment.Non-interest expense rose by 2% to $16.3 billion in the quarter, less than the average analysts’ estimate of $16.4 billion. The bank said in February that adjusted expenses for the full-year would rise to less than $66 billion from about $63 billion last year.JPMorgan has been ramping up spending as it expands its consumer bank into new states for the first time in more than a decade, uses technology to transform how its corporate and investment bank does business, and constructs a new headquarters in New York.Other insights from the report:The firm’s consumer bankers continue to outperform their Wall Street counterparts, posting a 22% increase in net income in the quarter. Dimon said the bank continues to see positive momentum with the U.S. consumer, citing “healthy confidence levels, solid job creation and rising wages.”The bank said that while its rates-trading business held up well during the quarter, there was reduced client activity in equity derivatives and weakness in the fixed-income EMEA business.Net charge-offs at the bank increased to $1.4 billion from $1.3 billion last year.(Updates with Dimon’s comment in fourth paragraph, Wells Fargo NII in eighth paragraph, CFO explanation of interest income decline in sixth paragraph.)To contact the reporter on this story: Michelle F. Davis in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Michael J. Moore at email@example.com, Steve Dickson, Daniel TaubFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
With volatile swings following its quarterly earnings release, JPM still appears to have investor confidence.
Stocks opened to thin losses Tuesday. Goldman Sachs and Johnsoin & Johnson split the Dow Jones index, ahead of a busy day for FANG stocks on Capitol Hill.
Shares of JPMorgan are rallying after beating on earnings estimates. However, could a breakout be in store for the bank?
Investors might have been spooked at first by the unfavorable impact of lower rates on net interest income. Yet, JPMorgan is likely the best bank stock to own amid an uncertain macroeconomic environment.