Topic: How To Invest

Wall Street Stock Forecaster Hotline – Friday, April 16, 2021

Article Excerpt

J.P. MORGAN CHASE & CO., $153.33, New York symbol JPM, remains a buy. The stock lets investors tap the largest banking firm in the U.S., with its total assets of $3.69 trillion as of March 31, 2021. In the first quarter of 2021, the bank took back $4.16 billion in funds (net of new provisions) previously set aside for potential bad loans. A year earlier, those provisions totaled $8.29 billion. As a result, its earnings in the quarter soared to $14.30 billion, or $4.50 a share, from $2.87 billion, or $0.78. That easily beat the consensus estimate of $3.10 a share. Revenue also improved 14.1%, to $32.27 billion from $28.29 billion. That, too, exceeded its consensus forecast of $31.28 billion. The higher revenues are largely because low interest rates continue to fuel demand for new mortgages and other consumer loans. As well, revenue at the securities-trading/corporate banking division rose 46.0%, while higher stock market values pushed up revenue from wealth management by 20.3%. Morgan continues to…

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