JPMorgan Just Had Its Best-Ever Quarter, Thanks to Higher Interest Rates

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Since the election, shares are up 33% alongside a 29% jump in the KBW Nasdaq index of bank stocks.

JPMorgan has earned $26.5 billion in profit over the past 12 months, the most ever by any major US bank.

U.S. banking giant JP Morgan Chase has reported a 13% rise in second quarter profits to $7bn (£5.4bn). Benson Investment Management Company Inc. raised its stake in shares of J P Morgan Chase & Co by 399.2% in the first quarter. The firm purchased 3,014 shares of the financial services provider's stock, valued at approximately $265,000. JPMorgan Chase's principal nonbank subsidiary is J.P. Morgan Securities LLC (JPMorgan Securities), the United States investment banking firm. A 7 analysts rate it as either a buy or a strong buy, while 1 believe that investors should either steer clear of (NYSE:VZ) or, if they already own its stock, sell it. Pacific Center for Financial Services bought a new stake in J P Morgan Chase & Co during the fourth quarter worth about $106,000. SELL rating has been given by 2 analyst (s) and 6 analyst (s) given BUY rating to the stock. The Chief Risk Officer now owns $4,132,359 of the stock per the Form 4 SEC filing.

J P Morgan Chase & Co (NYSE JPM) opened at 93.10 on Friday. The current 52-week range is $63.38 to $94.51. Equity trading revenue was $1.6 billion, down 1% year-over-year. ABMD's distance from 20 day simple moving average is 0.10% and distance from 50-Day simple moving average is 3.06%. Barclays PLC reissued an "overweight" rating and issued a $100.00 price target on shares of J P Morgan Chase & Co in a report on Monday, March 20th. The financial services provider reported $1.65 EPS for the quarter, topping the Zacks' consensus estimate of $1.52 by $0.13.

There has been some selling insider activity on JP Morgan Chase & Co. During the same quarter a year ago, the business posted $1.35 earnings per share. The firm's revenue was up 6.2% compared to the same quarter past year.

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Analysts had expected earnings of $1.58 per share, according to Thomson Reuters I/B/E/S.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 31st. The ex-dividend date will be on Tuesday the 4th of April 2017. This dividend represents a yield of $2.15. J P Morgan Chase & Co's dividend payout ratio is presently 30.82%. If you are reading this news story on another domain, it was copied illegally and republished in violation of U.S. & worldwide copyright and trademark law. The legal version of this story can be accessed at https://transcriptdaily.com/2017/07/14/j-p-morgan-chase-co-nysejpm-set-to-announce-quarterly-earnings-on-friday.html. (NYSE:JPM) earned "Neutral" rating by Macquarie Research on Friday, September 9. The other 17, though not evenly; between analysts who think you should buy JPMorgan Chase & Co. versus those who think you should sell it. Finally, Keefe, Bruyette & Woods restated a "market perform" rating and issued a $47.00 target price on shares of J P Morgan Chase & Co in a research report on Friday, April 14th.

Ballentine Partners Llc increased Jpmorgan Chase & Co (JPM) stake by 78.07% reported in 2016Q4 SEC filing. J P Morgan Chase & Co now has an average rating of "Buy" and an average price target of $84.05. The stock was sold at an average price of $87.21, for a total transaction of $568,085.94. The shares were sold at an average price of $85.06, for a total value of $289,629.30. The disclosure for this sale can be found here.

J.P. Morgan set aside $1.22 billion in the second quarter to cover loans that could potentially turn bad in the future. 4,739 were accumulated by Baystate Wealth Ltd. Solaris Asset Mngmt Lc holds 0.04% in JPMorgan Chase & Co. The Company's divisions include triple net senior living communities that provide short term and long term residential care and other services for residents; managed senior living communities that provide short term and long term residential care and other services for residents; properties leased to medical providers, medical related businesses, clinics and biotech laboratory tenants (MOBs), and all other, including certain properties that offer wellness, fitness and spa services to members. The Firm operates through Web services and products segment.

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