In a report released yesterday, Mike Mayo from Wells Fargo maintained a Buy rating on JPMorgan Chase & Co. (JPM – Research Report). The
JPMorgan Chase, Wells Fargo, Goldman Sachs, and Citigroup are scheduled to report fourth-quarter earnings Wednesday.
Wells Fargo has shifted its focus from home mortgages to credit cards, which are increasingly popular for payments as well as lending.
Wells Fargo's profit beat expectations in the fourth quarter, powered by a rebound in dealmaking activity and forecast it would earn more from interest payments this year, sending shares up 6%.
JPM and WFC are preparing to release their Q4 earnings, with strong bullish momentum for JPM and cautionary signals for WFC. Analysts forecast positive results for JPM, while WFC may experience a minor pullback.
Capital flowed into debt issued by JPMorgan Chase & Co., Citigroup Inc., Wells Fargo & Co. and Goldman Sachs Group Inc. after strong quarterly results from the big banks. Of the four, the most capital flowed into Wells Fargo,
Wells Fargo CEO Charlie Scharf validates some of the optimism, telling analysts he feels "really great about our progress." But he said executives "don't want to get ahead of ourselves."
JPMorgan Chase reported fourth-quarter results Wednesday that came in above analysts' expectations as investment banking fees rose.
JPMorgan Chase stands head-and-shoulders above the rest of this group of largest U.S. banks by ROAA, while Morgan Stanley runs a pretty close second when its performance is measured by ROTCE. And with such a large balance sheet, it is not a stretch to call JPM the best performer in the U.S. banking industry.
Morgan Stanley, Goldman Sachs, Bank of America, Citi, Wells Fargo, and JPMorgan Chase all reported strong fourth-quarter results. Many banks, such as Bank of America,
According to an organizer with the CWA, about a dozen JPMorgan Chase employees, representing groups from different areas of the bank all over the U.S., have contacted the union.