S&P 500
7,507.80
-0.22%
Dow Jones
51,595.40
-0.32%
Nasdaq 100
30,411.80
-0.23%
Russell 2000
2,975.48
-0.09%
FTSE 100
10,384.80
-0.34%
Nikkei 225
71,987.20
+0.02%

Banking, finance, and taxes

J.P. Morgan Earnings Settle Bank Expectations for Earnings Season (JPM)

Photo of Jon C. Ogg
By Jon C. Ogg Updated Published

Invalid Image
J.P. Morgan Chase & Co. (NYSE: JPM) has just started the earnings season for the banks and financials.  Jamie Dimon and friends reported that the bank made some $2.37 billion.  The results were tallied up as $1.28 EPS on $25.8 billion in revenues. Thomson Reuters has estimates of $1.16 EPS and $25.48 billlion in revenues. 

The company’s tier-one capital ratio was listed as 12.3% and its tier–one common equity ratio was put at 10%.  The DJIA component also said that it aims to meet Basel III requirements well ahead of time.  Jamie Dimon talked about mortgage losses continuing while credit card trends continue to improve.

You can decide what you want to count in the items and exclude from the items.  The bank said that earnings saw a $0.29 EPS boost by reduced credit card loan loss reserves, but were cut by $0.10 from foreclosure costs and cut by $0.16 on mortgage servicing.

So far it looks as though the banking stocks are going to get a good reception from earnings.  J.P. Morgan shares closed yesterday at $46.64 and so far we have shares trading up marginally around $46.80 in the pre-market.

JON C. OGG

Follow 24/7 Wall St. on Google
Photo of Jon C. Ogg
About the Author Jon C. Ogg →

Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.

Continue Reading

Paul Ausick |

Record Earnings at J.P. Morgan Fail to Excite Investors

J.P. Morgan Chase & Co. (NYSE: JPM) reported fiscal third-quarter results before markets opened this morning. The banking and finance…

Jon C. Ogg |

J.P. Morgan Company Earnings Surges to $6.5 Billion for Second Quarter

Wikimedia CommonsJ.P. Morgan Chase & Co. (NYSE: JPM) is now out with its second quarter company earnings report. The DJIA…

Jon C. Ogg |

JPMorgan Sails Past Earnings, Still Healthy Discount To Book Value (JPM)

J.P. Morgan Chase & Co. (NYSE: JPM) has reported its first-quarter earnings results ahead of expectations.  The top bank in…

Jon C. Ogg |

J.P. Morgan Sets Tone For Profit Taking In Banks (JPM, BAC, C, WFC)

J.P. Morgan Chase & Co. (NYSE: JPM) is a bit of a disappointment on the surface as revenues came in…

Paul Ausick |

Sharp Drop in Legal Expenses Lifts J.P. Morgan Earnings

J.P. Morgan reported third-quarter results before markets opened Tuesday morning, saying revenues were down both sequentially and year-to-date.

Jon C. Ogg |

The Worst Appears To Be Over At J.P. Morgan, Jamie Dimon’s Recovery

Jamie Dimon appears to have escaped the worst if you look through the earnings and trading losses at J.P. Morgan…

Paul Ausick |

J.P. Morgan Earnings Look Good Because Expectations Were Low

J.P. Morgan reported lower than a year ago but better than expected second-quarter results before markets opened Tuesday morning.

Jon C. Ogg |

“Selling the News” on J.P. Morgan Earnings (JPM)

Banks may have the wind at their backs, but there appears to be a ‘sell the news’ reaction this morning…

Paul Ausick |

J.P. Morgan Earnings, Dividend Boost and More Share Buybacks

Wikimedia CommonsJ.P. Morgan Chase & Co. (NYSE: JPM) reported fiscal first-quarter results before markets opened this morning. The investment bank…

Top Gaining Stocks

CarMax
KMX • Vol: 7,330,419
Corning
GLW • Vol: 22,800,969
Intel
INTC • Vol: 233,719,006
Super Micro Computer
SMCI • Vol: 68,465,534
Enphase Energy
ENPH • Vol: 13,978,376

Top Losing Stocks

Accenture
ACN • Vol: 41,744,333
EPAM Systems
EPAM • Vol: 5,636,587
Cognizant
CTSH • Vol: 61,311,400
Coterra Energy
CTRA • Vol: 73,319,495
Kroger
KR • Vol: 26,704,230