Topic: How To Invest

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

Article Excerpt

J.P. MORGAN CHASE & CO., $151.91, 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 $3.68 trillion as of June 30, 2021. In the second quarter of 2021, the bank took back $2.29 billion in funds (net of new provisions) previously set aside for potential bad loans. A year earlier, those provisions totalled $10.47 billion. As a result, its earnings jumped 154.9%, to $11.95 billion from $4.69 billion. Morgan spent $5.9 billion on share buybacks during the quarter. As a result, per-share earnings rose at a faster rate of 173.9%, to $3.78 from $1.38. That easily beat the consensus estimate of $3.20 a share. However, revenue dipped 7.8%, to $30.48 billion from $33.08 billion. Even so, that still beat the consensus forecast of $29.96 billion. The lower revenues are due to a 19.3% drop at its securities-trading/corporate banking division (40% of the total) due to a decline in stock, bond…

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