Donald Trump's tax cuts see JPMorgan profits soar by 35%
Apr 15, 2018, 05:49
Empirical Finance LLC acquired a new stake in J P Morgan Chase & Co during the fourth quarter worth about $144,000. BACON ASHLEY sold $1.84 million worth of JPMorgan Chase & Co.
Other large investors have also recently modified their holdings of the company. Beach Investment Management LLC. increased its stake in shares of JPMorgan Chase by 1,117.4% in the second quarter. Leavell Investment Management Inc. now owns 85,461 shares of the financial services provider's stock worth $9,139,000 after acquiring an additional 800 shares during the last quarter. Cornerstone Cap has invested 0.07% in JPMorgan Chase & Co. While, the analyst predicted that the company could provide an EPS of $1.69/share. Now it had 216,625 shares held by the hedge fund. $376.17 billion is the MC of Jpmorgan Chase & Co. (NYSE:JPM) for 6.86 million shares. New York-based Mrj Cap has invested 3.75% in JPMorgan Chase & Co.
Revenue and profit for the first three months of 2018 rose to all-time highs, the bank said Friday, spurred by record results from stock trading. (NYSE:JPM). Sarl reported 0.43% of its portfolio in JPMorgan Chase & Co. This organization's stock showed a trading volume of 16.33 million shares, compared to its average daily volume of 16.42M shares. 65,101 shares valued at $7.31M were sold by Erdoes Mary E. on Saturday, January 13.
The stock's current distance from 20-Day Simple Moving Average (SMA20) is 1.88% where SMA50 and SMA200 are 0.14% and 11.01% respectively. JPMorgan Chase has a one year low of $81.64 and a one year high of $119.33. The stock has a market capitalization of $379,643.31, a P/E ratio of 16.06, a P/E/G ratio of 1.87 and a beta of 1.24. The financial services provider reported $2.37 EPS for the quarter, topping analysts' consensus estimates of $2.28 by $0.09.
Results were strong across the board, with JPMorgan Chase posting solid increases in net income at its consumer banking, investment banking, commercial banking and wealth management businesses.
While impressive, the bank's profit increase needs to be put into a little bit of perspective: the new United States federal tax code introduced at the end of 2017 meant that banks like JPMorgan had to book multi-billion-dollar charges in their fourth quarter earnings which brought full year earnings down. (NYSE:JPM). Regions Financial Corp reported 1.71 million shares stake.
18 analysts on average are expecting the company to report revenue of $27.29 Billion for the current quarter.
Tesla jumped 2 percent after its founder Elon Musk said the electric vehicle maker will not need to raise any money this year as it will have positive cash flow and be profitable in the third and fourth quarter. The ex-dividend date of this dividend is Thursday, April 5th. On Wednesday, December 6 RBC Capital Markets maintained JPMorgan Chase & Co. It worsened, as 12 investors sold MCC shares while 30 reduced holdings. Those shares retreated in price Friday morning by 17 cents to $113.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. CROWN JAMES S bought $825,327 worth of stock. The average target $122.43 is 11.00% above the last ($110.3) price. The disclosure for this purchase can be found here. Another trade for 2,099 shares valued at $214,019 was sold by Friedman Stacey. (NYSE:JPM). Other Wall Street experts have also recently posted reports on these shares. On Thursday, December 21 the firm has "Buy" rating by Buckingham Research given. Credit Suisse maintained the shares of JPM in report on Monday, October 9 with "Buy" rating. The stock presently has a consensus rating of "Hold" and a consensus price target of $112.47. Zacks Investment Research upgraded shares of Scor from a "hold" rating to a "buy" rating and set a $4.75 price target on the stock in a research note on Saturday, February 24th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and fifteen have given a buy rating to the company's stock. CT Financial Advisors LLC raised its stake in J P Morgan Chase & Co by 4.2% in the third quarter. If you are viewing this report on another website, it was illegally stolen and reposted in violation of U.S. and worldwide copyright and trademark legislation. J P Morgan Chase & Co's quarterly revenue was up 2.1% on a year-over-year basis.
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