The company posted double-digit gains in its first quarter, but investors were disquieted by another number.Powerful bank JPMorgan Chase (JPM -0.02%) is also quite a powerful investment. According to one analyst, the company's shares can easily produce a double-digit return. Read on to get his take on this ever-prominent American lender.A bullish take on a bearish dayIn some respects, the timing is off for a bullish take on JPMorgan Chase. After all, this particular analyst report came mere hours after the ...

Investors panicked following disappointing 2024 guidance. They're not seeing the bigger picture.The stock's setback last week makes enough sense on the surface. In defiance of expectations, JPMorgan Chase (JPM -6.47%) didn't raise its 2024 revenue guidance with its first-quarter results posted on Friday. Shares subsequently tumbled to the tune of 6%, extending a sell-off that's been underway since late March. JPMorgan stock is now down 8% from that peak.The proverbial glass isn't half-empty, however. It's h ...

Sundry Photography JPMorgan Chase & Co. (NYSE:JPM) had a stock price reaction that one would not normally expect for such a good earnings report. Then again, Mr. Market has been in a sour mood lately as less and less stocks move upward in what is typically the final leg of a bull market. Many sectors are already correcting as a result even though this is supposedly still a bull market. JPMorgan is likely the Cadillac of the banking industry. But even a premium idea like this is not immune to environment ...

Financial Data and Key Metrics Changes - The firm reported net income of $13.4 billion, EPS of $4.44 on revenue of $42.5 billion, and delivered an ROTCE of 21% [5] - Firmwide IB fees increased by 18% year-on-year, reflecting strength in underwriting fees [5] - Revenue excluding First Republic was $40.9 billion, up $1.5 billion or 4% year-on-year [6] - Expenses of $22 billion were up $1.8 billion or 9% year-on-year, driven by higher compensation and the FDIC special assessment [7] Business Line Data and Key Metrics Changes - CCB reported net income of $4.4 billion on revenue of $16.6 billion, which was up 1% year-on-year [8] - Banking and Wealth Management revenue was down 4% year-on-year, while client investment assets were up 25% year-on-year [9] - Home Lending revenue was up 10% year-on-year, driven by higher NII and production revenue [9] - Card Services revenue was up 8% year-on-year, with card outstandings up 13% [9] - CIB reported net income of $4.8 billion on revenue of $13.6 billion, with Investment Banking revenue up 27% year-on-year [11] - AWM reported net income of $1 billion with revenue of $4.7 billion, down 1% year-on-year [15] Market Data and Key Metrics Changes - Payments revenue was $2.4 billion, down 1% year-on-year [12] - Markets revenue totaled $8 billion, down 5% year-on-year, with fixed income down 7% [12] - Commercial Banking reported revenue of $3.6 billion, up 3% year-on-year [13] Company Strategy and Development Direction - The company plans to maintain a CET1 ratio of 15% to prepare for Basel III endgame, indicating a cautious approach to capital management [23] - The firm is focused on using capital to build the business first, pay dividends, and then consider stock buybacks [24] - The company is optimistic about the Investment Banking pipeline but cautious about regulatory headwinds affecting M&A activity [62] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in consumer and business health, citing low unemployment and rising asset prices [42] - There is caution regarding potential economic inflection points and geopolitical risks that could impact future performance [44] - The outlook for NII ex-Markets is approximately $89 billion, with expectations of ongoing deposit migration [17][30] Other Important Information - The effective tax rate has increased to around 23% for the year, driven by the adoption of the proportional amortization method for certain tax equity investments [18] - The company expects to continue facing economic, geopolitical, and regulatory uncertainties [19] Q&A Session All Questions and Answers Question: Dividend increase and payout ratio - Management indicated that the dividend was increased due to strong earnings, aiming for a payout ratio around one-third of normalized earnings [21][22] Question: Deposit migration trends - Management noted that migration from checking and savings to CDs continues, with no significant change in trends observed [27][30] Question: Card growth and reserve build - Management confirmed that the lack of reserve build this quarter was seasonal, with expectations for continued card loan growth [35][36] Question: Investment Banking pipeline and M&A activity - Management expressed cautious optimism about the Investment Banking pipeline but noted regulatory headwinds could impact M&A activity [60][62] Question: Health of the wholesale payments business - Management reported strong performance in the wholesale payments business, attributing it to ongoing investment and the essential nature of payment services [68][71]

Chase Bank may soon pay you more interest on your deposits. And this is bad news?Stock of JPMorgan Chase & Co. (JPM -5.33%) -- America's biggest bank both by revenue and by market cap -- is tumbling on Friday, down 5.8% through 11:05 a.m. ET despite the bank reporting big beats on both revenue and earnings for its first quarter of fiscal 2024.Heading into the quarter, analysts had JPMorgan pegged for a $3.82-per-share profit on revenue of $38.5 billion. But then the bank reported profits of $4.63 per share ...

Consumers are still spending, but JPMorgan CEO Jamie Dimon, in remarks accompanying the banking giant’s latest earnings Friday (April 12), detailed concerns over inflation’s impact.And “persistent inflation pressures,” as he termed them, among other factors, will be unpredictable.As Dimon stated in the earnings release, “we have never truly experienced the full effect of quantitative tightening on this scale. We do not know how these factors will play out, but we must prepare the firm for a wide range of po ...

JPMorgan Chase continued to warn investors Friday that it expects an “uncertain” year for markets and the global economy, citing stubbornly high inflation and ongoing geopolitical tensions.The remarks came as JPMorgan — as well as its major competitors Citigroup and Wells Fargo — reported their first quarter results. JPMorgan had a modest 6% rise in the first quarter while Wells Fargo reported a decline in profit versus a year ago, although the result beat Wall Street’s expectations. Citigroup’s earnings al ...

JPMorgan Chase & Co (NYSE:JPM) broke the seal of another earnings season today. The bank name surpassed first-quarter earnings and revenue expectations, but noted net interest income could miss analysts' estimates for 2024. Shares are down 5% to trade at $185.68 at last check, making now an excellent opportunity for investors to buy the dip.The security is taking a breather from an April 1, all-time high of $200.78, on track for a fourth-straight daily loss and worst day since March 2023. The 60-day moving ...

JPMorgan Chase & Co. (JPM) reported $41.93 billion in revenue for the quarter ended March 2024, representing a year-over-year increase of 9.4%. EPS of $4.63 for the same period compares to $4.10 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $40.9 billion, representing a surprise of +2.52%. The company delivered an EPS surprise of +10.77%, with the consensus EPS estimate being $4.18.While investors scrutinize revenue and earnings changes year-over-year and how they compare with ...

The financial sector encompasses a broad range of institutions, including banks, investment funds, insurance companies, and brokerage firms. Banks form the core of this sector, offering essential services such as lending, deposit holding, and asset management. They play a pivotal role in the economy by facilitating payments, extending credit, and managing risk. Investing in bank stocks is often seen as a reflection of the overall health of the economy, as these institutions are closely tied to economic cycl ...