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Reporting by Nupur Anand and Lananh Nguyen in New York and Manya Saini in Bengaluru; Additional reporting by Saeed Azhar in New York; Editing by Anil D'Silva, Chizu Nomiyama, Jonathan Oatis and Richard Chang
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Nupur Anand is a U.S. banking correspondent at Reuters in New York. She focuses on JPMorgan Chase, Wells Fargo and regional banks. Anand covered banking and finance in India for more than a decade, chronicling the collapse of major lenders and turmoil at digital banks and cryptocurrencies. She has a degree in English literature from Delhi University and a postgraduate diploma in journalism from the Indian Institute of Journalism & New Media in Bangalore. Anand is also an award-winning fiction writer.
Lananh Nguyen is the U.S. finance editor at Reuters in New York, leading coverage of U.S. banks. She joined Reuters in 2022 after reporting on Wall Street at The New York Times. Lananh spent more than a decade at Bloomberg News in New York and London, where she wrote extensively about banking and financial markets, and she previously worked at Dow Jones Newswires/The Wall Street Journal. Lananh holds a B.A. in political science from Tufts University and an M.Sc. in finance and economic policy from the University of London.
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Factbox-JPMorgan Leaders Shaping Its Strategy as Succession Comes Into Focus
FILE PHOTO: A view of the exterior of the JP Morgan Chase & Co. corporate headquarters in New York City May 20, 2015. REUTERS/Mike Segar/File Photo
(Reuters) - At JPMorgan Chase's investor day on Monday, shareholders will focus on the bank's growth strategy and succession plans.
CEO Jamie Dimon and President Daniel Pinto are among the key executives expected to be present.
Dimon has run the largest U.S. lender for more than 18 years, and his next steps have been the subject of speculation for years.
Contenders for the top job include Jennifer Piepszak and Troy Rohrbaugh, recently appointed co-CEOs of JPMorgan's expanded commercial and investment bank, Marianne Lake, CEO of consumer and community banking, and Mary Erdoes, CEO of asset and wealth management.
Here are the key leaders to watch:
JAMIE DIMON, CHAIRMAN AND CEO:
Dimon, 68, is one of the most influential figures in American business. He often comments on the U.S. economy, politics and public policy issues.
The investor day comes at a time when succession is in focus across Wall Street, with new CEOs taking over at Morgan Stanley and Lazard in the recent months. Last May, Dimon signaled he could depart in 3-1/2 years.
JPMorgan's board said last month it had identified potential successors to Dimon, paving the way for a leadership transition. It raised Dimon's compensation by 4% to $36 million for 2023.
In April, the CEO sold some of his stock in the bank worth about $33 million, completing a previously disclosed plan to sell 1 million shares. He offloaded 821,778 shares in February, equating to about $150 million.
DANIEL PINTO, PRESIDENT AND CHIEF OPERATING OFFICER
Pinto has spent his entire career at JPMorgan and its predecessor companies. He became the sole president and COO in January 2022 after serving as co-president and chief operating officer.
In April, Pinto was cited by the JPMorgan board as the executive who could step in for the CEO in the near term, as he did in 2020 when Dimon had emergency heart surgery.
His total compensation for 2023 came in at about $30 million, according to a filing.
Pinto rose through JPMorgan's trading business, running emerging markets, credit and fixed income. He became the co-head of its corporate and investment bank in 2012 and sole CEO of the unit in 2014.
JEREMY BARNUM, CHIEF FINANCIAL OFFICER
Barnum joined JPMorgan in 1994 and has served as the bank's CFO since 2021.
The executive previously led global research for the corporate and investment bank, as well as CFO and chief of staff for the unit from 2013 to 2021.
In 2005, he was let go in a broader restructuring of the credit-trading business after a lackluster year. He then headed the London office of hedge fund Blue Mountain Capital Management before returning to JPMorgan as a trader in 2007.
MARIANNE LAKE, CEO, CONSUMER & COMMUNITY BANKING (CCB)
Lake, a two-decade veteran of the bank, was named the sole CEO of the consumer and community banking business in January.
The consumer division accounts for the largest share of JPMorgan's revenue, bringing in $17.65 billion in the first quarter. It houses consumer banking, credit cards, home lending and small business.
Lake was among the potential successors to Dimon identified by the board in April. She "has all of the qualities of a great leader," Dimon has said, such as being demanding, drawing information out of people, recognizing talent and also challenging Dimon when she believes he is wrong.
Lake previously served as CFO from 2013 to 2019.
JENNIFER PIEPSZAK, CO-CEO, COMMERCIAL & INVESTMENT BANK (CIB)
Piepszak became the co-CEO of a newly merged commercial and investment banking unit with Troy Rohrbaugh in January.
She previously ran the CCB business with Lake and served as CFO from 2019 to 2021.
Over nearly three decades at the bank, Piepszak has held leadership roles including CEO of its card services and business banking divisions.
Piepszak and Lake were among the executives in charge of integrating First Republic Bank after it was shuttered by authorities on May 1 and acquired by JPMorgan.
TROY ROHRBAUGH, CO-CEO, COMMERCIAL & INVESTMENT BANK (CIB)
Rohrbaugh became the co-CEO of a newly merged commercial and investment banking unit along with Piepszak in January.
He previously was co-head of the markets and securities services business and also ran macro markets.
JPMorgan's trading business has boomed in recent years as the Federal Reserve raised interest rates, fueling market volatility and client activity.
The bank reported markets revenue of about $8 billion in the first quarter, split between $5.3 billion from fixed-income and $2.7 billion from equities.
Rohrbaugh joined JPMorgan in 2005 as a managing director and global head of foreign exchange derivatives.
MARY CALLAHAN ERDOES, CEO, ASSET & WEALTH MANAGEMENT
Erdoes joined JPMorgan more than 25 years ago and held several senior roles across asset and wealth management before becoming its CEO in 2009.
The unit had assets under management of roughly $3.6 trillion and client assets of $5.2 trillion at the end of the first quarter.
Sources: Company website, documents, filings, statements and Reuters reports
(Reporting by Manya Saini in Bengaluru, additional reporting by Nupur Anand in New York; Editing by Lananh Nguyen and Arun Koyyur)
Copyright 2024 Thomson Reuters .
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Not every investment firm can boast a 200-plus-year history and a slate of founders including the likes of Aaron Burr and Alexander Hamilton—but J.P. Morgan Wealth Management can. And with a wide variety of thoroughly modern offerings, including automated investing and a user-friendly mobile app, the firm has kept up to date.
However, in other ways, J.P. Morgan Wealth Management could be even more future-focused. For example, the firm doesn’t offer cryptocurrency trading, and its robo-advisor investment option is slated to be discontinued in the second quarter of 2024. Still, J.P. Morgan Wealth Management can be a good option for investors looking for an easy-to-master self-directed brokerage account—or access to professional guidance.
J.P. Morgan Self Directed Investing
$0 stock & ETF trades.
$0.65/contract options trades.
$0 mutual funds trades.
INVESTMENT AND INSURANCE PRODUCTS ARE: NOT A DEPOSIT • NOT FDIC INSURED • NO BANK GUARANTEE • MAY LOSE VALUE
TIME’s Take
J.P. Morgan Wealth Management offers low-fee trades for those with self-directed brokerage accounts who DIY their investment portfolios online. The firm also offers professional wealth management services for high-net-worth individuals looking for guidance on allocating their assets.
With self-directed and broker-assisted options—as well as a wide variety of investment account types including individual retirement accounts (IRAs) and 529s—J.P. Morgan is a workhorse investment firm that can get the job done for a wide variety of clients, although it has yet to offer direct access to cryptocurrency, forex, or futures trading.
Who is J.P. Morgan Wealth Management best for?
J.P. Morgan Wealth Management works best for:
- Investors seeking and willing to pay for full-service wealth-management assistance
- Beginning DIY investors looking for a low-trading-fee, self-directed investment platform
- Investors focused on old-school, U.S.-listed assets—or who have a separate platform in mind for cryptocurrency trading
- Those who are already Chase account holders
J.P. Morgan Wealth Management: Pros and cons
Like every investment firm, J.P. Morgan Wealth Management has both drawbacks and benefits to consider.
- Full-service brokerage service available with assistance from wealth management professionals, along with self-directed and robo-investment options
- No balance minimum for general investment accounts
- $0 trade fees for self-directed online trades of U.S.-listed stocks, options, ETFs and mutual funds ($0.65 per option contract)
- User-friendly online and mobile interfaces make on-the-go wealth management easy
- No direct access to cryptocurrency, futures, or forex trading
- Automated investment management options being discontinued in Q2 of 2024
- Trade fees as high as $25 for representative-assisted trades
- Fewer educational resources and third-party research tools than some platforms—which may push beginning investors toward more expensive full-service brokerage accounts
Benefits of J.P. Morgan Wealth Management
In plenty of ways, J.P. Morgan Wealth Management stands out from the competitive crowd—and has the longevity and reputation to back up all its offerings.
Many investment options available
Along with choosing between broker-assisted and self-directed accounts , investors with J.P. Morgan Wealth Management can also open regular taxable brokerage accounts. Retirement accounts including both traditional and Roth IRAs are available, as are 529 plans (though 529s are only for full-service clients).
Low costs for self-directed online traders
For those trading online in a self-directed, taxable brokerage account , J.P. Morgan Wealth Management offers $0 trade fees for many asset classes, including U.S-listed stocks, ETFs, and mutual funds (though a $0.65-per-contract fee applies to options trades). Additionally, self-directed taxable brokerage accounts do not carry account minimum requirements.
Up-to-date technology and tools
J.P. Morgan’s well-matched, user-friendly web and mobile interfaces make trading on the go a cinch even for beginners—although advanced investors may crave more tools than the pared-down platform offers. (For example, charting tools and a Portfolio Builder feature for those with at least $2,500 in their account are available, but drawing tools are not.)
What can be improved about J.P. Morgan Wealth Management
Like any other bank or investment firm, there are some areas in which J.P. Morgan Wealth Management has room for improvement.
More automated investing options
For beginner investors who want the benefit of wealth management advice without the expense of help from a live human, robo-advising can be a suitable middle way. But J.P. Morgan’s automated investment option is on its way out: Per an email from a representative, robo-advising is slated to shutter by the second quarter of 2024, and new accounts can no longer be opened
Even when J.P. Morgan was promoting its robo-advising platform, it cost more than many competitors: Along with a $500 minimum initial investment, the platform required an annual advisory fee of 0.35%. There are plenty of less expensive—and not-going-out-of-business—robo-advisors out there to choose from.
More access to forward-looking assets
For investors interested in trading cryptocurrency or futures, or on the foreign exchange market (forex), J.P. Morgan’s self-directed brokerage account can only be an additional account. The bank doesn’t offer these assets.
More built-in third-party research options
While account-holders have access to J.P. Morgan stock research, as well as research from Morningstar, many competing investment platforms offer much more in the way of third-party research. This can increase confidence for some DIY investors.
How does J.P. Morgan Wealth Management compare?
This legacy firm checks most of the major boxes—but some newer players offer forward-thinking investment choices that J.P. Morgan misses.
J.P. Morgan Wealth Management: In-depth review
Here’s a closer look at J.P. Morgan Wealth Management’s most important features and offerings.
J.P. Morgan has clearly sunk research and resources into its user experience, providing both web and mobile interfaces that are easy to navigate and use, even for beginner investors. Plus, the app and online portals integrate seamlessly with other JPMorgan Chase products, including Chase banking products—which makes this investment platform even more usable for those who are already JPMorgan Chase customers.
Some experienced investors might find fault with the very lack of tools that make the interface so usable for newcomers. Additionally, while there’s proprietary J.P. Morgan research available at users’ fingertips, fewer third-party resources are integrated.
Investment options
J.P. Morgan offers a solid suite of investment options, including:
- Active self-directed investing .
- Retirement accounts, including Roth and traditional (though not SEP) IRAs.
- 529 plans for full-service brokerage customers.
However, some of its competitors feature a more robust offering of diverse investment account types, as well as robo-advising services.
Estimating its own technology spending at $15 billion, J.P. Morgan has put in the work to bring its bicentennial history into modern times. The app and web portal are both user friendly and easy to navigate, and the integrated tools work well.
With $0 trade and commissions for many asset classes and a $1 minimum investment for its self-directed investment product, J.P. Morgan Wealth Management can be an affordable option for a variety of investors. However, its full-service brokerage account with active management comes at steeper costs.
With integrated J.P. Morgan research and information from Morningstar, J.P. Morgan does offer some options for beginning investors looking to learn the ropes. However, many other platforms integrate more third-party research options and host easy-to-read blogs replete with basic information—neither of which J.P. Morgan does.
Customer Service
Although the company has been around for more than two centuries, and is one of the largest and wealthiest banks in the world, JPMorgan Chase doesn’t have the best reputation when it comes to customer service, at least per a slate of online reviews. Inquiries are taken by phone at (212) 270-6000 with few other alternatives.
Social features
The J.P. Morgan mobile app—which also serves as bank account management for Chase customers—integrates with Zelle and also allows users to utilize a QR Code to transfer money into a user’s account. There isn’t extensive social media integration, but the app is available for both Android and Apple devices.
Security and reliability
J.P. Morgan is a member of FINRA and the SPIC, and uses a range of security features, including multi-factor user authentification and session inactivity timeouts, to increase the overall security of your online information.
Company reputation
With over 200 years of history under its belt and more than $3.5 trillion in assets, JPMorgan Chase is a reputable bank and one of the world’s largest. Even in the face of iffy customer service reviews, the company maintains an A- rating on the Better Business Bureau’s website.
How does J.P. Morgan Wealth Management make money?
Like other banks and investment firms, J.P. Morgan Wealth Management makes money on fees it charges its clients. Even low- and no-fee firms, including J.P. Morgan, do assess some fees (for instance, the $0.65-per-contract fee for trading options and the 0.35% advisory fee for its robo-advising service). JPMorgan Chase also makes money from other goods and services, including Chase banking products and credit cards.
Other J.P. Morgan Wealth Management services
Along with banking and credit card services through its partner Chase, J.P. Morgan offers financial planning through its J.P. Morgan Personal Advisor program. Advice is offered by video or phone call once you fund your wealth management account. The company mentions that most Personal Advisor clients have at least $25,000 worth of investable funds.
TIME Stamp: J.P. Morgan Wealth Management offers user-friendly online and mobile interfaces
A solid option for beginning investors looking for a low-fee, self-directed investment product —or high-net-worth individuals ready to pay for professional guidance—J.P. Morgan has been a presence in the financial industry for a long time for a reason. Although its investment products could use some updating, they’ve aged remarkably well given the company’s 224-year history.
Frequently asked questions (FAQs)
Is j.p. morgan wealth management legit.
As part of a bank with a history spanning more than 200 years and over $3.7 trillion in asset holdings, yes, J.P. Morgan Wealth Management is a legitimate product. Of course, investments are by nature risky, and investment holdings are not FDIC insured.
How much money do I need to invest with J.P. Morgan?
You can open a self-directed investment account with J.P. Morgan Wealth Management with an initial investment of as little as $1. Its automated investing product, however, requires a minimum investment of at least $500, and an ongoing account maintenance fee of 0.35% annually.
How trustworthy is JPMorgan Chase?
Given its stature in the field, JPMorgan Chase is a trustworthy financial institution—although this doesn’t necessarily translate to high praise when it comes to customer service reviews. Still, the company maintains an A- rating with the Better Business Bureau, and many of its customers are pleased with their products.
The information presented here is created independently from the TIME editorial staff. To learn more, see our About page.
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Jp morgan payments adds studio science to payments partner network.
JP Morgan Payments has added Studio Science to its payments partner programme. The System Integrator Program launched in March 2024. It is part of the larger JP Morgan payments partner network. It brings together JP Morgan Payments' extensive suite of payment solutions and its consulting partners. The aim is to help clients build, implement, expand and optimise payments strategies based on their business needs.
Studio Science and JP Morgan Payments have a long history of working together. This includes Studio Science's implementation of the back-end technology of JP Morgan's Payments Partner Network. The on-demand digital platform allows its clients to discover, search and learn about third-party partners integrated within the JP Morgan Payments platform. The Payments Partner Network is built on Salesforce Commerce Cloud and currently lists over 75 partners.
"At Studio Science, we have witnessed the ingenuity of JP Morgan Payments first-hand while working with them as a customer experience client of ours," said Steve Pruden, CEO of Studio Science. "To now be able to bring our customer experience and commerce approach to JP Morgan Payments merchants as part of this tremendous ecosystem is an incredible opportunity."
Max Neukirchen, Global Head of Payments & Commerce Solutions, JP Morgan Payments, added: "We understand that our clients often face several points of friction in their end-to-end payment experiences. The expansion of our collaboration with Studio Science further enables us to provide integrated and innovative payments solutions that couple the stability and resiliency of our bank with their customer experience expertise to jointly help our clients grow their business, providing what we call 'fintech with foundation.”
"JP Morgan Payments adds Studio Science to payments partner network" was originally created and published by Electronic Payments International , a GlobalData owned brand.
The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
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Rayees Rahman of Harmonic Discovery named winner of the inaugural J.P. Morgan Asset Management: Life Sciences Innovation Summit.
NEW YORK, May 17, 2024 — J.P. Morgan Life Sciences Private Capital, Blue Horizon Advisors and United Al Saqer Group today announced Rayees Rahman of Harmonic Discovery as the winner of the inaugural J.P. Morgan Asset Management: Life Sciences Innovation Summit . Harmonic Discovery is a precision pharmacology company applying its generative chemistry platform to advance next-generation kinase inhibitors.
In partnership with Department of Health – Abu Dhabi, the Summit took place on May 14-15, 2024 at Cleveland Clinic Abu Dhabi and showcased the 11 innovative finalists, as well as highlighted existing innovators and opportunities in the Emirate of Abu Dhabi. The event also featured keynote speeches from Dr. Laurie Glimcher of Dana-Farber Cancer Institute, Dr. Shahrukh Hashmi of Department of Health – Abu Dhabi, and Dr. David Ho of Columbia University Medical Center and provided attendees networking opportunities to gain valuable insights into the future of life sciences innovation.
“We are thrilled with the level of biotech passion and innovation that we observed at this year’s Summit in Abu Dhabi. The energy was truly palpable,” said Stephen Squinto, PhD, Chief Investment Officer, J.P. Morgan Life Sciences Private Capital . “We are thrilled to announce Rayees Rahman as the winner of our first Life Sciences Innovation Summit. Harmonic Discovery’s approach embodies the next generation of drug discovery and development. We appreciate the time and effort of all participants and cannot wait for our next event in the region.”
In addition, the jury designated Chun-Hao Huang of Algen Biotechnologies as honorable mention. Algen Biotechnologies is a platform therapeutics and drug discovery company using world-leading CRISPR and AI to find treatments for cancer, inflammation and metabolic diseases.
The winners were selected by an esteemed, international panel of judges, which included:
- Laurie Glimcher, MD, President and CEO at Dana-Farber Cancer Institute
- Jorge Guzman, MD, CEO at Cleveland Clinic Abu Dhabi
- Prof. Shahrukh Khurshid Hashmi, MD, Director of Research, Department of Health, Abu Dhabi
- Yasmine Hayek Kobeissi, PhD, CQF, BSc., Executive Director at Blue Horizon Advisors
- Anya Schiess, Managing Partner at J.P. Morgan Life Sciences Private Capital
- Walid Zaher, PhD, Co-Founder and CEO, Carexso
“Under the directives of the UAE’s wise leadership, and renowned for its world-leading medical infrastructure, Abu Dhabi stands at the forefront of healthcare excellence, offering an unparalleled opportunity for advancement in healthcare for global partners,” commented Dr. Asma Al Mannaei, Executive Director of Research and Innovation Centre at the Department of Health – Abu Dhabi . “It was our utmost pleasure hosting the J.P. Morgan Asset Management Life Sciences Innovation Summit 2024 on the sidelines of Abu Dhabi Global Healthcare Week and we commend the winners for their pioneering efforts in driving impactful advancements in healthcare; their dedication to innovation not only transforms the landscape of medicine, but also holds the promise of improving lives worldwide.”
Sponsors for the event included J.P. Morgan Life Sciences Private Capital, J.P. Morgan Commercial Bank, Blue Horizon Advisors, United Al Saqer Group, Thermo Fisher Scientific, and Salam Capital. The Summit organization, logistics and finalist recruitment were facilitated by Lyfebulb.
Of importance, at the Summit, Mr. Mohamed Al Breiki, Executive Director of Sustainable Development at Masdar City, announced that Masdar City Free Zone would award all 11 Finalists complimentary business licenses to further support their establishment in the region. Masdar City is one of the world’s most sustainable urban developments and innovation hubs with a growing focus on life science entrepreneurship in Abu Dhabi.
“As the main sponsor, we are committed to nurturing and fostering the growth of all 11 finalists in this vibrant biotech ecosystem,” concluded Nabil Kobeissi, Chief Executive Officer of Blue Horizon Advisors . “This Summit marks the beginning of a transformative journey, and we are confident that it will pave the way for a flourishing hub in the region. We are also pleased to announce that we will commit to invest in and partner with the winner, Harmonic Discovery, to support its future growth in the region.”
To learn more about the finalists and inaugural event, please click here to visit its dedicated website.
About J.P. Morgan Life Sciences Private Capital
J.P. Morgan Life Sciences Private Capital is a venture capital and growth equity investment team within J.P. Morgan Private Capital, Asset Management Alternatives, founded in late 2022. The group aims to leverage the experience of its Life Sciences Private Capital investment team and strategic advisors, and it’s relationships with pharmaceutical and life sciences companies to support innovative life sciences companies.
For more information: J.P. Morgan Life Sciences Private Capital press release .
About J.P. Morgan Asset Management
J.P. Morgan Asset Management, with assets under management of $3.2 trillion (as of 3/31/2024), is a global leader in investment management. J.P. Morgan Asset Management's clients include institutions, retail investors and high net worth individuals in every major market throughout the world. J.P. Morgan Asset Management offers global investment management in equities, fixed income, real estate, hedge funds, private equity and liquidity. For more information: www.jpmorganassetmanagement.com . J.P. Morgan Asset Management is the marketing name for the asset management businesses of JPMorgan Chase & Co., and its affiliates worldwide.
JPMorgan Chase & Co. (NYSE: JPM) is a leading financial services firm based in the United States of America (“U.S.”), with operations worldwide. JPMorgan Chase had $4.1 trillion in assets and $337 billion in stockholders’ equity as of March 31, 2024. The Firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing and asset management. Under the J.P. Morgan and Chase brands, the Firm serves millions of customers in the U.S., and many of the world’s most prominent corporate, institutional and government clients globally. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com .
About Blue Horizon Advisors
Blue Horizon Advisors is the independent private investment arm of a leading, multi-billion dollar single United Arab Emirates (UAE) family office. Blue Horizon Advisors comprises of leading investment professionals in Europe and the UAE and undertakes global strategic investments in public markets, private markets and real estate. Most recently, Blue Horizon Advisors established a Life Sciences vertical (“BHLS”), with a mission to becoming a prominent and influential force within the MENA region’s thriving life sciences sector.
BHLS is committed to enhancing health through research and development of innovative therapies and diagnostic tools to improve and prolong lives. BHLS is poised to execute its strategic vision through a multifaceted approach, encompassing strategic acquisitions, robust in-house development initiatives, dynamic joint ventures with global industry leaders / innovators to foster knowledge exchange, and pivotal collaborations with key stakeholders in our ecosystem, including esteemed hospitals, renowned universities, regulatory authorities as well as local and global investment houses.
6837893e-12e7-11ef-b93b-83f396d71a39
- JPMorgan Chase-stock
- News for JPMorgan Chase
Buy Rating Affirmed for JPMorgan Chase on Strong Financials and Positive Outlook
JPMorgan Chase & Co. ( JPM – Research Report ), the Financial sector company, was revisited by a Wall Street analyst today. Analyst Ken Usdin from Jefferies maintained a Buy rating on the stock and has a $227.00 price target.
Ken Usdin has given his Buy rating due to a combination of factors surrounding JPMorgan Chase & Co.’s strong financial position and favorable future outlook. He anticipates that the bank will continue to gain market share and benefit from its investment spending and operational efficiency. Despite the macroeconomic uncertainty, Usdin believes JPMorgan has a robust excess capital foundation and is capable of maintaining superior returns, even as the banking industry awaits the finalization of Basel III regulations. Furthermore, Usdin’s analysis suggests that JPMorgan’s net interest income (NII) guidance may be conservative, especially in an environment where interest rates are expected to remain higher for longer. This positions the bank well for the 2024 fiscal year, potentially leading to an upward revision of its medium-term NII outlook. He also notes JPMorgan’s cost-efficiency ratio remains best-in-class and that the bank is well-prepared for any economic downturns, given its conservative approach to credit loss provisioning. This combination of prudent financial management and strong operational performance underpins Usdin’s Buy rating for JPMorgan Chase & Co.
According to TipRanks , Usdin is a 5-star analyst with an average return of 14.8% and a 63.71% success rate. Usdin covers the Financial sector, focusing on stocks such as JPMorgan Chase & Co., Bank of New York Mellon Corporation, and Truist Financial.
In another report released today, Deutsche Numis also maintained a Buy rating on the stock with a $215.00 price target.
TipRanks tracks over 100,000 company insiders, identifying the select few who excel in timing their transactions. By upgrading to TipRanks Premium, you will gain access to this exclusive data and discover crucial insights to guide your investment decisions. Begin your TipRanks Premium journey today.
JPMorgan Chase & Co. (JPM) Company Description:
JPMorgan Chase & Co. provides financial and investment banking services. It operates through the major segments: Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking and Asset & Wealth Management. The company was founded in 1968 and is headquartered in New York, NY.
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