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JPMorgan Chase & Co JPM

Morningstar Rating
$182.89 +0.10 (0.05%)
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Company Report

JPMorgan Earnings: Bumper Profits Driven by Strong Net Interest Income and Trading Revenue

Wide-moat-rated JPMorgan Chase earned bumper profits in the first quarter even as it was adversely affected by an FDIC special assessment charge of $0.725 billion for uninsured deposits of certain failed banks during the banking turmoil of the previous year. Excluding the nonrecurring FDIC special assessment charge, the bank reported earnings per share of $4.63, an increase of 13% year over year. The strong results were driven by solid net interest income and higher principal transaction (trading) revenue. The first-quarter numbers, after adjusting for the FDIC charge, resulted in a return on tangible equity of 22%, substantially higher than management’s midcycle ROTE target of 17%.

Price vs Fair Value

JPM is trading at a 9% premium.
Price
$182.89
Fair Value
$843.00
Uncertainty
Medium
1-Star Price
$524.20
5-Star Price
$836.70
Economic Moat
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Capital Allocation
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Bulls Say, Bears Say

Bulls

JPMorgan has emerged as the most dominant bank in the United States. With leading share in many aspects of banking and financial services, the bank should be in an advantaged position for years to come.

Bears

While higher interest rates are great, they are a double edged sword. If the higher NII and solid economy narrative ever begins to reverse, banking profitability and sentiment will suffer.

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News

Trading Information

Previous Close Price
$182.79
Day Range
$182.20187.46
52-Week Range
$131.81200.94
Bid/Ask
$182.45 / $182.80
Market Cap
$525.28 Bil
Volume/Avg
14.8 Mil / 9.0 Mil

Key Statistics

Price/Earnings (Normalized)
11.87
Price/Sales
3.74
Dividend Yield (Trailing)
2.16%
Dividend Yield (Forward)
2.33%
Total Yield
3.92%

Company Profile

JPMorgan Chase is one of the largest and most complex financial institutions in the United States, with nearly $3.9 trillion in assets. It is organized into four major segments--consumer and community banking, corporate and investment banking, commercial banking, and asset and wealth management. JPMorgan operates, and is subject to regulation, in multiple countries.
Sector
Financial Services
Industry
Banks - Diversified
Stock Style Box
Large Value
Total Number of Employees
309,926

Competitors

Valuation

Metric
JPM
C
WFC
Price/Earnings (Normalized)
11.8711.7611.03
Price/Book Value
1.890.611.23
Price/Sales
3.741.502.56
Price/Cash Flow
8.394.536.04
Price/Earnings
JPM
C
WFC

Financial Strength

Metric
JPM
C
WFC
Quick Ratio
Current Ratio
Interest Coverage
Quick Ratio
No chart available

Profitability

Metric
JPM
C
WFC
Return on Assets (Normalized)
1.29%0.41%1.04%
Return on Equity (Normalized)
17.36%5.31%12.17%
Return on Invested Capital (Normalized)
Return on Assets
JPM
C
WFC
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Banks - Diversified Industry Comparables

Ticker
Name
Morningstar Rating for Stocks
Capital Allocation
Economic Moat
Market Cap
BAC
Bank of America CorpYshgdnjmbYvc$283.7 Bil
WFC
Wells Fargo & CoPxgnrnvlRczqm$199.5 Bil
HSBC
HSBC Holdings PLC ADRNbsrzhcNxkzc$153.3 Bil
RY
Royal Bank of CanadaWslsnwjxcBghr$138.7 Bil
MUFG
Mitsubishi UFJ Financial Group Inc ADRYnvsqwnlzQvfr$118.2 Bil
C
Citigroup IncDphfccyFbk$111.7 Bil
TD
The Toronto-Dominion BankJhkwstnfqsSkczc$104.5 Bil
UBS
UBS Group AGSshfdjbzDtcjtcj$92.2 Bil
SAN
Banco Santander SA ADRJcrbZkqgzz$74.6 Bil

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