Seeking Alpha

JPMorgan Chase & Co. (JPM)

  • Mon, Mar. 30, 7:55 AM
    • JPMorgan (NYSE:JPM) chief Jamie Dimon made this weekend's Barron's cover, with the accompanying article by Andrew Bary suggesting a 30% rise could be in the cards this year.
    • The stock's higher by 1.25% prermarket.
    • Previously: Barron's: JPMorgan could rise more than 30% (March 28)
    | Mon, Mar. 30, 7:55 AM | Comment!
  • Mon, Mar. 30, 4:09 AM
    • Top European and U.S. banks axed 59,000 jobs last year as they restructured, cut costs and moved further into digital banking, Reuters reports.
    • The figure brings the total number of jobs lost across 24 banks in the last two years to 160,000.
    • Notables: Barclays (NYSE:BCS) shed 7,300 jobs last year due to a three-year plan to cut 19,000 staff; RBS (NYSE:RBS) slashed 10,000 employees as it sold overseas businesses and trimmed its investment bank further; JPMorgan (NYSE:JPM) and BofA (NYSE:BAC) also made substantial job cuts as they worked through troubled mortgages and refinanced loans at lower rates.
    | Mon, Mar. 30, 4:09 AM | 25 Comments
  • Sat, Mar. 28, 4:33 PM
    • Barron's notes shares of JPMorgan (NYSE:JPM) trade at just 10x earnings, one of the lowest P/E ratios among big U.S. banks.
    • At just 12x 2016 estimated earnings, shares could approach $80 next year - a 30% gain, still a steep discount to the S&Ps 500's P/E ratio of 16x.
    • The stock yields 3%, tops among its peers.
    • Barron's says investors haven't yet recognized that JPM has built several market-leading companies, including the country's No. 1 credit-card company; the No. 1 investment bank; the top private bank; and the third-largest asset manager. CLSA analyst Mike Mayo, a onetime skeptic who turned bullish in late 2014, carries a Buy rating and $70 price target. "In addition to a discounted valuation, JPMorgan has adapted to the changing landscape, grown its market share, and reinvested back in the business," another analyst says.
    • Previously: JPMorgan holds on to top investment banking spot,  (Mar. 27)
    • Previously: Gasparino: Sizable cuts coming at JPMorgan investment and commercial banks (Mar. 19)
    • Previously: JPMorgan formally authorizes $6.4B buyback, boosted dividend next quarter (Mar. 17)
    | Sat, Mar. 28, 4:33 PM | 18 Comments
  • Fri, Mar. 27, 6:57 AM
    • At the prompting of at least one BNY Mellon (NYSE:BK) director, recruiting firm Spencer Stuart firm has come up with a list of potential candidates to replace embattled CEO Gerald Hassell.
    • Gregory Fleming, who runs wealth and investment management at Morgan Stanley (NYSE:MS), has been contacted about the position, Reuters reports.
    • Other potential candidates include Mary Erdoes, who runs JPMorgan's (NYSE:JPM) asset management business and Michael Cavanagh, a former JPMorgan executive who is now COO at P-E firm Carlyle (NASDAQ:CG).
    • Previously: Marcato demands new leadership at BNY Mellon (Mar. 10 2015)
    | Fri, Mar. 27, 6:57 AM | Comment!
  • Fri, Mar. 27, 3:28 AM
    • Despite its revenues falling 6%, JPMorgan (NYSE:JPM) retained its crown as the top performing investment bank in 2014, according to industry analytics firm Coalition.
    • JPMorgan reaped $22B from investment banking last year, compared with $23.3B in 2013.
    • Other U.S. banks also continued to dominate top spots, with Goldman Sachs (NYSE:GS) coming second overall across investment banking, and Citigroup (NYSE:C) and BofA (NYSE:BAC) sharing third place with Deutsche Bank (NYSE:DB).
    | Fri, Mar. 27, 3:28 AM | 2 Comments
  • Thu, Mar. 26, 4:37 PM
    • The big banks have had a rough start to the year, but surging trading volume in bonds, currencies, and commodities in Q1 could make for pleasant surprises when the lenders report quarterly results next month, writes John Carney.
    • The average daily trading volume across all U.S. bonds was up 10.6% Y/Y through the end of February, according to Sifma, with trading in corporate bonds up 18.1%, driven by a big rise in issuance. Trading in Fannie, Freddie, and Ginnie MBS was up 35.3% from a year ago.
    • Goldman Sachs (NYSE:GS) could be a particular beneficiary, as about 25% of its revenue is generated by FICC, and Credit Suisse sees the bank posting its first year-over-year increase in that unit's revenue since 2009.
    • Others of interest: Morgan Stanley (NYSE:MS), Bank of America (NYSE:BAC), Citigroup (NYSE:C), and JPMorgan (NYSE:JPM).
    | Thu, Mar. 26, 4:37 PM | 5 Comments
  • Mon, Mar. 23, 8:58 AM
    • In what could be a big boon for overseas banks doing business in China, Beijing is mulling sweeping changes for the securities industry which would include allowing foreign banks controlling stakes in their local joint ventures, reports Bloomberg.
    • The looser restrictions would let players like Goldman Sachs (NYSE:GS), JPMorgan (NYSE:JPM), Morgan Stanley (NYSE:MS), Credit Suisse (NYSE:CS), Deutsche Bank (NYSE:DB), and Citigroup (NYSE:C) compete more effectively with dominant incumbents like Citic Securities.
    • Current rules approved in 2012 allow overseas banks to just 49% ownership of securities firms. Prior to that, the limit was 33%. The above-listed banks have all entered the market since 2007.
    | Mon, Mar. 23, 8:58 AM | Comment!
  • Thu, Mar. 19, 3:35 PM
    • Executives at JPMorgan (JPM -0.8%) are bracing for layoffs in the investment banking and commercial banking units of up to 5-7% of the workforce, tweets out Charlie Gasparino.
    • The trading slowdown is looking less cyclical and more secular in nature, and the evaporation in profit at Jefferies - which just reported its quarter through Feb. 28 - could  bode ill for Wall Street's major investment banks which report their Q1s next month.
    • Previously: Poor results at Jefferies sinks Leucadia (March 17)
    | Thu, Mar. 19, 3:35 PM | Comment!
  • Thu, Mar. 19, 3:06 PM
    • A federal judge accepted a motion by the DOJ to toss a lawsuit brought by the non-profit Better Markets which sought to block the $13B settlement with JPMorgan (JPM -0.7%). The group - founded only in 2010 - lacks standing to sue, says the judge.
    • "Such backroom deals should not be allowed in a democracy worthy of its name. We will be carefully evaluating the court's opinion before determining our next steps," says the head of the group.
    | Thu, Mar. 19, 3:06 PM | Comment!
  • Tue, Mar. 17, 4:54 PM
    • Alongside the declaration of its $0.40 per share quarterly dividend, JPMorgan (NYSE:JPM) reiterates its intention to boost the payout to $0.44 for the dividend payable on July 31.
    • The board also makes formal its intent to repurchase up to $6.4B in common stock between April 1 of this year and June 30 of 2016.
    • Source: Press Release
    • Previously: JPMorgan boosts dividend by 10% after CCAR (March 11)
    • Shares -0.1% after hours.
    | Tue, Mar. 17, 4:54 PM | 1 Comment
  • Tue, Mar. 17, 4:37 PM
    • JPMorgan Chase (NYSE:JPM) declares $0.40/share quarterly dividend, in line with previous.
    • Forward yield 2.6%
    • Payable April 30; for shareholders of record April 6; ex-div April 1.
    | Tue, Mar. 17, 4:37 PM | Comment!
  • Tue, Mar. 17, 4:12 PM
    • Ocwen Financial (OCN +4%) earlier this month said it signed an LOI to sell MSRs on 277K performing loans, and Bloomberg is reporting JPMorgan (JPM -0.3%) as the buyer.
    • The deal would bring JPMorgan's mortgage servicing portfolio to nearly $1T, trailing only Wells Fargo's $1.75T.
    | Tue, Mar. 17, 4:12 PM | 10 Comments
  • Tue, Mar. 17, 11:10 AM
    • A possible harbinger of things to come next month when the big banks report Q1 earnings, profits at Jefferies plunged in FQ1 (ended Feb. 28), with FICC, capital markets, and investment banking particularly weak.
    • Previously: Poor results at Jefferies sinks Leucadia (March 17)
    • Jefferies parent Leucadia is lower by 3.7%. Goldman Sachs (GS -1.1%), Morgan Stanley (MS -0.9%), JPMorgan (JPM -1.2%), Citigroup (C -0.1%), Bank of America (BAC -0.8%).
    | Tue, Mar. 17, 11:10 AM | 2 Comments
  • Mon, Mar. 16, 3:41 AM
    | Mon, Mar. 16, 3:41 AM | Comment!
  • Fri, Mar. 13, 4:09 PM
    • It's looking like $1B is the price the DOJ wants from banks to make the forex manipulation probe go away, according to Bloomberg. Banks, however, are finally starting to feel their oats and pushing back a bit more than in the mortgage probes - the final penalty could be lower, according to sources.
    • Among the lenders discussing settlements: Barclays (NYSE:BCS), Citigroup (NYSE:C), JPMorgan (NYSE:JPM), RBS, and UBS. The government is also readying cases against individuals.
    • In the global investigations, banks have already agreed to pay regulators about $4.3B.
    | Fri, Mar. 13, 4:09 PM | 21 Comments
  • Thu, Mar. 12, 12:47 PM
    • Citigroup's (C +2.7%) $7.8B in buybacks was 10% higher than estimated by MKM analyst David Trone. Combined with the nickel dividend, that's total shareholder returns of $8.4B vs. his $7B expectation.
    • Bank of America (BAC -1%) - though given just conditional approval - is set for $4B in buybacks and a nickel dividend. That's a total return of $6.1B vs. Trone's $3.1B estimate. Trone notes the bank can proceed with its buyback prior to resubmitting plans.
    • JPMorgan's (JPM +1%) $6.4B buyback was shy of Trone's $7B estimate, but the 10% dividend increase was better than forecast. The total capital return of $12.9B vs. his $13.2B forecast is a "marginal negative."
    • The dividend hike to $0.65 at Goldman (GS +2.1%) beat Trone's expectation of $0.62. As for the buyback, Goldman's policy of not disclosing the amount remains in place.
    • Morgan Stanley's (MS +4.5%) capital return of $4.3B is more than double Trone's $1.9B estimate.
    • Source: Benzinga
    | Thu, Mar. 12, 12:47 PM | 4 Comments
JPM vs. ETF Alternatives
Company Description
JPMorgan Chase & Co is a financial services firm and a banking institution. its segments are Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking, and Asset Management.
Sector: Financial
Country: United States