- JPMorgan’s adjusted revenue for the first quarter exceeded estimates with a total of $42.55 billion, a noteworthy increase from the projected $41.64 billion.
- The earnings per share stood at $4.44.
- The total loans for the quarter were slightly below expectations at $1.31 trillion, as compared to the initially estimated $1.33 trillion.
- Total deposits surpassed estimates by reaching a total of $2.43 trillion, compared to an estimated $2.4 trillion.
- The provision for credit losses was notably lower than expected at $1.88 billion, as opposed to the estimated $2.78 billion.
- Non-interest expenses were lower than estimated as well, totalling $22.76 billion instead of the forecasted $22.99 billion.
- The company’s return on equity was stronger than expected, coming in at 17% compared to an estimated 15.9%.
- The return on tangible common equity also exceeded expectations by 1%, reaching 21% as opposed to the predicted 20%.
- The tangible book value per share reached $88.43, with the book value per share standing at $106.81.
- As of now, there are 23 buys, 6 holds and 1 sell on JPMorgan’s stock shares.
JPMorgan Chase & Co on Smartkarma
Analyst coverage of JPMorgan Chase & Co on Smartkarma reveals positive sentiments from top independent analysts. Srinidhi Raghavendra‘s report, “[Earnings Preview] JP Morgan Poised to Outperform on Superior NIM & Fortuitous Acquisitions,” highlights JPM’s commanding 18% share of total US bank profits. With astute leadership and shrewd execution, JPM has achieved unrivalled Net Interest Margin, positioning it to outperform in Q4 2023 despite challenging financial conditions.
In another bullish report by Fern Wang, “The Big 3 U.S. Banks Delivered Solid Earnings on NII, Benign Credit Quality,” the focus is on strong earnings by the Big 3 U.S. Banks, including JPMorgan Chase & Co, driven by higher interest rates and favorable credit quality. Wang emphasizes the potential impact of proposed capital changes on JPM and Citigroup, while noting the resilience of credit quality across most sectors, with some challenges in commercial real estate for Wells Fargo. Overall, the reports indicate a positive outlook for JPMorgan Chase & Co amidst a competitive and evolving financial landscape.
A look at JPMorgan Chase & Co Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 3 | |
| Dividend | 3 | |
| Growth | 4 | |
| Resilience | 2 | |
| Momentum | 5 | |
| OVERALL SMART SCORE | 3.4 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Analysts are optimistic about the long-term outlook for JPMorgan Chase & Co, a global financial services provider. According to Smartkarma Smart Scores, the company has received a high score in Momentum, indicating strong positive price performance. Additionally, JPMorgan Chase scored well in Growth, reflecting potential for future expansion and development. While Value and Dividend scores were moderate, the company’s Resilience score was lower, suggesting some vulnerability in this aspect.
JPMorgan Chase & Co offers a range of financial services, including investment banking, asset management, and retail banking, catering to businesses, institutions, and individuals. With a mix of strong momentum and growth potential, the company may be well-positioned for long-term success, although weaknesses in resilience could pose challenges in the face of economic downturns.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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