Topic: How To Invest

Wall Street Stock Forecaster Hotline – Friday, April 12, 2019

Article Excerpt

J.P. MORGAN CHASE & CO., $111.21, New York symbol JPM, is the largest banking firm in the U.S., with total assets of $2.74 trillion as of March 31, 2019. In the three months ended March 31, 2019, Morgan earned $9.18 billion, up 5.4% from $8.71 billion a year earlier. Per-share earnings rose 11.8%, to $2.65 from $2.37 on fewer shares outstanding. That beat the consensus estimate of $2.35. Revenue gained 4.4%, to $29.1 billion from $27.9 billion. That also exceeded the consensus forecast of $28.4 billion. Despite higher interest rates, earnings from the bank’s consumer lending rose 19.2% on strong demand for new loans and credit cards. As well, earnings from Morgan’s commercial banking business improved 2.7%. Those gains offset weaker earnings for the bank’s corporate financing (down 18.2%) and wealth management (down 14.2%) businesses. Morgan set aside $1.50 billion in the quarter to cover potentially bad loans. That’s up 28.3% from $1.17 billion a year earlier. The increase is mainly due to specific…

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