Key Stats for JPMorgan Chase Stock
- Price change for JPMorgan Chase stock in the last 6 months: 6%
- $JPM Stock Price as of Oct. 13: $331
- 52-Week High: $367
- $JPM Stock Price Target: $372
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What Happened?
JPMorgan Chase (JPM) reported Q3 earnings of $5.57 per share, below estimates of $5.91 per share. It was the banking giant’s first miss in almost three years.
Revenue was $50.9 billion, up 8% from a year ago, and net income was $15.3 billion. The results also included $658 million in losses on investment securities.
Deal-making was the weak spot. Rate uncertainty, high energy prices and geopolitical tensions kept many deals on the sidelines.
Investment banking fees rose 14% from last year but fell 8% from Q2. Fixed income trading fell 4%, while equities trading jumped 49%, and total markets revenue rose 15%.
Net interest income, excluding markets, rose 6% to $24.7 billion and average loans grew 10% from a year ago.
The bank raised its full-year net interest income forecast to about $106.2 billion, up from $105.5 billion.
Excluding markets, the forecast is now $97.2 billion, up from $96.5 billion.
For 2027, it expects about $107 billion excluding markets.
It also raised its expense forecast to about $108.6 billion from $107.5 billion.
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What the Market Is Telling Us About JPMorgan Chase Stock
JPMorgan Chase stock was up 0.3% in volatile early trading. The market seems to see the miss as small, but not meaningless.
One portfolio manager said the franchise still looks healthy, but the quarter’s quality was a step below what investors expected.
CFO Jeremy Barnum said the investment banking pipeline is still very strong. Activity slowed in the second half of September, and he expects deals to be delayed.
Debit and credit card spending rose 10% year over year, and the bank added about 650,000 net new checking accounts in the quarter.
Rates are the bigger question. The Federal Reserve hiked rates in September and signaled more hikes could follow, which should boost lending income.
They could also push some borrowers away. CEO Jamie Dimon said the bank prepares for all outcomes, including higher rates.
For now, JPMorgan Chase stock looks tied to two things.
One is whether dealmaking picks up again in Q4. The other is whether lending income keeps growing as rates rise.
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So what is JPMorgan Chase stock actually worth?
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Disclaimer:
Please note that the articles on TIKR are not intended to serve as investment or financial advice from TIKR or our content team, nor are they recommendations to buy or sell any stocks. We create our content based on TIKR Terminal’s investment data and analysts’ estimates. Our analysis might not include recent company news or important updates. TIKR has no position in any stocks mentioned. Thank you for reading, and happy investing!
