Topic: How To Invest

Wall Street Stock Forecaster Hotline – Friday, January 17, 2025

Article Excerpt

J.P. MORGAN CHASE & CO., $259.41, New York symbol JPM, is a buy. Morgan is the largest banking firm in the U.S., with total assets of $4.00 trillion as of December 31, 2024. In the three months ended December 31, 2024, Morgan’s earnings soared 54.1%, to $13.67 billion from $8.87 billion a year earlier. Due to fewer shares outstanding, per-share earnings rose at a faster rate of 58.2%, to $4.11 from $3.04. That topped the consensus estimate of $4.11. The big earnings gain is partly because the year-earlier quarter included a $2.9 billion payment to the Federal Deposit Insurance Corporation (FDIC) to replenish losses from a fund that helped uninsured depositors of failed regional banks. As well, Morgan set aside $2.63 billion to cover potential loan losses. That’s down 4.7% from $2.76 billion a year earlier as lower provisions for business loans offset higher costs for credit card loans. Revenue in the quarter also improved 9.5%, to $43.74 billion from $39.94 billion, which also beat…