Topic: How To Invest

Wall Street Stock Forecaster Hotline – Friday, April 14, 2023

Article Excerpt

J.P. MORGAN CHASE & CO., $138.73, New York symbol JPM, remains a buy. The stock lets investors tap the largest banking firm in the U.S., with total assets of $3.74 trillion as of March 31, 2023. In response to rising interest rates and inflation, the bank set aside $2.28 billion to cover potential loan losses in the first quarter of 2023, up 55.5% from $1.46 billion a year earlier. However, Morgan continues to benefit from higher interest rates, rising credit card use by consumers, and greater inflows to its wealth management operations. The collapse of Silicon Valley Bank and Signature Bank also helped it attract more customers from smaller banks: its deposits rose 1.6% to $2.38 trillion as of March 31, 2023, from $2.34 billion at the end of 2022. Those factors offset lower fees from Morgan’s bond underwriting, and a decline in its stock trading volumes. As a result, earnings in the quarter jumped 55.9%, to $4.10 a share (or a total of…