2 banking stocks to watch amid earnings season
The post 2 banking stocks to watch amid earnings season appeared on BitcoinEthereumNews.com. Earnings season has kicked into high gear, with reports from major US banks being released on Friday and more anticipated in the upcoming week. Notably, two specific stocks have emerged as potentially profitable investment opportunities indicating a bullish uptrend in the industry. JPMorgan Chase (JPM) posted record net interest income and beat analysts’ earnings expectations when it reported third-quarter results. Wells Fargo (WFC) and Citigroup (C) also topped Wall Street estimates. They are the first big banks to report quarterly results, with Bank of America (BAC), Goldman Sachs (GS) and Morgan Stanley (MS) following next week. JP Morgan Chase & Co (JPM) JP Morgan Chase & Co (NASDAQ: JPM) reported robust third-quarter earnings, surpassing analysts’ expectations, driven by increased net interest income and its acquisition of First Republic Bank in May. The bank’s profit climbed by 35%, or 24% when excluding First Republic, reaching $13.2 billion. This translated to earnings of $4.33 per share on revenue of $39.9 billion. Analysts polled by FactSet had anticipated JPMorgan to post earnings of $3.95 per share on revenue of $39.6 billion. JPM stock last 7 days performance. Source: Finbold.com JPMorgan’s CEO, Jamie Dimon, expressed satisfaction with the results but also emphasized the need for caution due to the challenging global economic and geopolitical landscape, including quantitative tightening and conflicts in Ukraine and Israel. He noted, “This may be the most dangerous time the world has seen in decades. While we hope for the best, we prepare the Firm for a broad range of outcomes so we can consistently deliver for clients no matter the environment.” Despite economic challenges, JPMorgan is managing well. Net-charge offs at the bank increased to $1.5 billion, approximately double compared to the previous year. However, the bank also reported a net reserve release of $113 million, resulting in total…
The post 2 banking stocks to watch amid earnings season appeared on BitcoinEthereumNews.com.
Earnings season has kicked into high gear, with reports from major US banks being released on Friday and more anticipated in the upcoming week. Notably, two specific stocks have emerged as potentially profitable investment opportunities indicating a bullish uptrend in the industry. JPMorgan Chase (JPM) posted record net interest income and beat analysts’ earnings expectations when it reported third-quarter results. Wells Fargo (WFC) and Citigroup (C) also topped Wall Street estimates. They are the first big banks to report quarterly results, with Bank of America (BAC), Goldman Sachs (GS) and Morgan Stanley (MS) following next week. JP Morgan Chase & Co (JPM) JP Morgan Chase & Co (NASDAQ: JPM) reported robust third-quarter earnings, surpassing analysts’ expectations, driven by increased net interest income and its acquisition of First Republic Bank in May. The bank’s profit climbed by 35%, or 24% when excluding First Republic, reaching $13.2 billion. This translated to earnings of $4.33 per share on revenue of $39.9 billion. Analysts polled by FactSet had anticipated JPMorgan to post earnings of $3.95 per share on revenue of $39.6 billion. JPM stock last 7 days performance. Source: Finbold.com JPMorgan’s CEO, Jamie Dimon, expressed satisfaction with the results but also emphasized the need for caution due to the challenging global economic and geopolitical landscape, including quantitative tightening and conflicts in Ukraine and Israel. He noted, “This may be the most dangerous time the world has seen in decades. While we hope for the best, we prepare the Firm for a broad range of outcomes so we can consistently deliver for clients no matter the environment.” Despite economic challenges, JPMorgan is managing well. Net-charge offs at the bank increased to $1.5 billion, approximately double compared to the previous year. However, the bank also reported a net reserve release of $113 million, resulting in total…
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