Updating J.P. Morgan Chase & Co., Wells Fargo & Co. and Kraft Heinz Co.

Article Excerpt

J.P. MORGAN CHASE & CO. $99 (www.jpmorganchase.com) is the largest banking firm in the U.S., with total assets of $2.6 trillion as of September 30, 2017. In the third quarter of 2017, Morgan’s earnings improved 7.1%, to $6.7 billion from $6.3 billion a year earlier. Due to fewer shares outstanding, earnings per share jumped 11.4%, to $1.76 from $1.58. Revenue in the quarter rose 2.7%, to $26.2 billion from $25.5 billion. Those gains are mainly due to higher interest rates and steady demand for new consumer and business loans. Rising stock prices also lifted earnings for Morgan’s wealth management operations. The stronger earnings let the company raise its quarterly dividend by 12.0%. The new annual rate of $2.24 yields 2.3%. Buy. WELLS FARGO & CO. $54 (www.wellsfargo.com) is the third-largest U.S. bank, after J.P. Morgan (No. 1) and Bank of America (No. 2). It earned $0.84 a share in the third quarter of 2017, down 18.4% from $1.03 a year…