JPMorgan Chase & Co. (NYSE: JPM) is a global financial services company that manages assets worth more than $3.2 trillion. It is involved in investment banking, commercial banking, financial transaction processing, financial services for business, and asset management.
In the company’s most recent quarter, it beat analyst earnings estimates by reporting $2.92 per share from revenue of $29.9 billion. While revenue only matched the same period a year ago, it was still an impressive result considering the global economic situation and headwinds created by the Coronavirus Pandemic. Notably, the company reduced loan losses by $569 million in the third quarter, significantly reducing its risk moving forward.
Regulators halted share repurchases in the finance industry in 2020, but JPMorgan will resume repurchases this year. This could help to create increased value for existing shareholders. With high-end price targets reaching as high as $164.00, and a 2.74% dividend yield, this is one of the best financial stocks for income and growth investors.
Key Data:
- 1 Year Price Growth: -4.29%
- YTD Price Growth: 53%
- 3 Month Price Growth: 25%
All information is based on current and historical market data, as well as publicly available financial data. As with any financial decision, your own research is important. Stock market outcomes can never be 100% accurately predicted. Familiarity with historical data, individual industries, and individual stocks is key to developing a robust portfolio. Note that stock prices can fluctuate rapidly during trading sessions.