JPMorgan Chase Topped Q1 Estimates, Plans $15B Buyback Program (JPM)
3 minutes ago - Comtex SmarTrend(R) via Comtex
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JPMorgan Chase (NYSE:JPM) reported Q1 EPS of $1.28, ahead of consensus estimates of $1.15 per share. Revenues for the quarter were $25.22 billion, ahead of consensus estimates of $25.11 billion.
The company increased its quarterly dividend to $0.25 from $0.05 per share and set plans to buy back $8 billion in stock this year as part of a $15 billion stock buyback program.
Jamie Dimon, Chairman and Chief Executive Officer, commented on the quarter: "The Firm's results reflected a strong quarter across the Investment Bank and solid performance from Card Services, Commercial Banking, Treasury & Securities Services, and Asset Management. These results partially benefited from improved credit trends in our credit card and wholesale businesses."
JPMorgan Chase has a potential upside of 18.3% based on a current price of $46.64 and an average consensus analyst price target of $55.17.
JPMorgan Chase is currently above its 50-day moving average (MA) of $46.03 and above its 200-day of $41.41.
In the last five trading sessions, the 50-day MA has climbed 0.25% while the 200-day MA has risen 0.29%.
JPMorgan Chase & Co. provides global financial services and retail banking. The Company provides services such as investment banking, treasury and securities services, asset management, private banking, card member services, commercial banking, and home finance. JP Morgan Chase serves business enterprises, institutions, and individuals.
Write to Chip Brian at cbrian@mysmartrend.com
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