|Bid||47.930 x 1200|
|Ask||47.940 x 800|
|Day's Range||47.550 - 48.035|
|52 Week Range||46.280 - 59.380|
|PE Ratio (TTM)||12.20|
|Earnings Date||Oct 15, 2018 - Oct 19, 2018|
|Forward Dividend & Yield||1.20 (2.49%)|
|1y Target Est||59.86|
The PBV (price-to-book value) ratio is considered to be the best ratio to use if you want to value bank stocks. JPMorgan Chase (JPM) is currently trading at a PBV ratio of 1.65x, a considerable premium to the industry (XLF) average of ~1.48x. Bank of America (BAC), Wells Fargo (WFC), Citigroup (C), and Morgan Stanley (MS) have PBV ratios of 1.26x, 1.46x, 0.98x, and 1.19x, respectively.
Yesterday, JPMorgan Chase (JPM) received some positive commentary from Erika Najarian, an analyst at Bank of America (BAC), as per a report by Benzinga. Citing multiple growth factors, the analyst raised the target price on the largest US bank to $132 from $126 and reiterated its “buy” rating.
When Chinese electric-vehicle maker NIO (NYSE:NIO) launched its IPO on Wednesday, NIO did not look so inspiring. The company priced its stock at $6.26, which was on the low-end of the $6.25-$8.25 range. NIO IPO raised about $1 billion, but NIO wanted to raise $2 billion-$3 billion. The first-day performance of NIO was also muted. Note that the shares rose only about 5.4%. The underwriters on the deal included Morgan Stanley (NYSE:MS), Goldman Sachs (NYSE:GS) and JP Morgan (NYSE:JPM).
Morgan Stanley today declared a regular dividend on the outstanding shares of each of the following preferred stock issues:
Last week, investment bank Goldman Sachs (GS) warned investors about the declining demand for memory chips. Goldman Sachs lowered Micron’s (MU) rating from “buy” to “neutral.” Goldman Sachs analyst Mark Delaney expects “incrementally weaker demand datapoints combined with accelerating supply growth” in the last quarter of 2018 and the first half of 2019.
The software company joins the growing number of Bay Area tech enterprises filing for IPO this year, including SurveyMonkey, DocuSign and Zuora.
Bayer (BAYGn.DE) is inviting financial investors to bid for its 60 percent stake in chemical park operator Currenta after initially failing to agree a sale to its former chemicals subsidiary Covestro (1COV.DE), three people familiar with the matter told Reuters. Bayer, which is focussing on healthcare and crop protection after the takeover of U.S. seed maker Monsanto, has mandated Morgan Stanley (MS.N) to help with the transaction. Covestro, Morgan Stanley and Bayer declined to comment.
The price-to-book value ratio (or PBV) is considered the best multiple for valuing companies in the insurance, finance, and banking spaces, as these companies have significant liquid and tangible assets on their books. A PBV of lower than 1.0 indicates that a stock is undervalued and is considered a good buy. Wells Fargo & Company (WFC) is currently trading at a PBV of 1.54x, a slight premium to the industry average of ~1.48x.
Analysts are bullish about JPMorgan Chase (JPM). Analysts expect decent growth in JPMorgan Chase’s stock price from the current level. The company’s impressive track record of strong quarterly performances and its encouraging outlook for 2018 instilled confidence among analysts.
Ten years past the financial crisis, former Bear Stearns CEO Alan Schwartz has been asked often about the most important lessons learned from that period.
To keep readers up-to-date on the latest price fluctuations and trends pertaining to cryptocurrencies, we here at New York Business Journal compile a list of the week's top stories each Friday. Peruse the listicle below for the headlines you might have missed. Sunday, Sept. 9: The U.S. Securities and Exchange Commission (SEC) issued an order seeking to suspend the trading of the Bitcoin Tracker One and Ether Tracker One exchange-traded notes, issued by XBT Provider AB, a Swedish-based subsidiary of the U.K. firm CoinShares Holdings. In the official order, the SEC cited a "confusion amongst market participants" based in the U.S. as to the nature of the financial instruments as the reason for the move.
JPMorgan Chase (JPM) projects a YoY (year-over-year) decline in its third-quarter trading revenues. During a presentation to investors at the Barclays Global Financial Services Conference on September 13, JPMorgan Chase’s CFO, Marianne Lake, revealed that the company’s trading revenues will likely fall in the mid-single-digit percentage range during the third quarter.
Investing.com – Asian equity markets were mixed on Friday afternoon, after China reported better-than-expected industrial output and retail sales, but investment fell to a new low.
Investing.com – Cryptocurrencies rose on Friday morning in Asia, as initial coin offering (ICO) projects sold three times more Ethereum in the past 10 days than in August.
Morgan Stanley is delving into the crypto market. The New York-based bank (NYSE: MS) plans to offer trading in complex derivatives tied to bitcoin, according to Bloomberg, citing an unnamed source. The news comes about a week after Business Insider reported that Goldman Sachs Group (NYSE: GS) was no longer considering a new trading operation devoted to cryptocurrencies.
THINGS TO KNOW This is a noteworthy milestone for the impact investing movement: (MS)’s impact platform has surpassed $25 billion of assets. The firm’s Investing with Impact Platform, which encompasses sustainable and impact investing, spans more than 120 third-party separately managed accounts, mutual funds, ETFs, alternatives and accounts with custom mandates.
According to a report from Apple Insider, Morgan Stanley (MS) expects Apple to offset the threat of longer replacement cycles with the iPhone Xs. Analysts’ estimates for iPhone shipments have been conservative as smartphone replacement cycles have increased in length over the last two years, resulting in a global smartphone unit shipment decline over the last three quarters. Wall Street expects iPhone shipments to rise 0.6% YoY (year-over-year) to 220 million units in 2019 compared to an estimated rise of 0.9% in 2018.
Citing a person familiar with the matter, Bloomberg reports that the leading American investment bank will facilitate deals in derivatives contracts that will allow traders and investors a synthetic exposure to the performance of Bitcoin, the most popular cryptocurrency. Morgan Stanley will benefit by charging a spread for each transaction.
Tammy Kiely, the senior Goldman Sachs Group Inc. banker who almost left for Morgan Stanley earlier this year, is getting a promotion. The executive in May reneged on an agreement to jump to Morgan Stanley, where she was to become global head of the semiconductors and auto-technology group. Goldman has been revamping Kiely’s unit this year, adding a New York-based head and hiring a dealmaker from JPMorgan Chase & Co., Kurt Simon, as co-chairman.
Morgan Stanley is reportedly preparing to offer bitcoin swap trading for clients, joining other top banks in a sector-wide effort to explore digital currencies. Traders will have the choice to go either long or short using so-called price return swaps, Bloomberg reported, citing sources familiar with the matter. Goldman Sachs clarified last week that the bank is working on a type of derivative for bitcoin called non-deliverable forwards due to client demand.
(Reuters) - Morgan Stanley plans to offer trading in derivatives tied to bitcoin, Bloomberg reported on Thursday, citing a person familiar with the matter. The bank does not plan to trade bitcoin directly ...
Morgan Stanley plans to offer trading in complex derivatives tied to the largest cryptocurrency, according to a person familiar with the matter, joining other Wall Street firms in creating ways for clients to play the digital currency market. The U.S. bank will deal in contracts that give investors synthetic exposure to the performance of Bitcoin, said the person, who asked not to be identified because the information is private. Investors will be able to go long or short using the so-called price return swaps, and Morgan Stanley will charge a spread for each transaction, the person said.
The Boeing CEO discussed plans for future production rate increases of the jet maker's most popular aircraft.
Is bitcoin's demise greatly exaggerated? Crypto's complicated relationship with Wall Street. With Mike Belshe, BitGo CEO, CNBC's Bob Pisani and Melissa Lee, and the Fast Money traders, Brian Kelly, Pete Najarian, Karen Finerman, Dan Nathan and Tim Seym...