Key Stats for $JPM Stock
- Price Change for $JPM stock: -2%
- Current Share Price: $302
- 52-Week High: $318
- $JPM Stock Price Target: $323
What Happened?
JPMorgan Chase (JPM) stock fell 2% even as the banking giant crushed third-quarter earnings expectations, posting $5.07 per share versus the $4.87 estimate.
Revenue hit $46.43 billion, nearly $1 billion ahead of what Wall Street expected, driven by a blowout trading performance and strong investment banking activity.
Profit surged 12% to $14.39 billion from a year ago. The standout performer was the trading desk, which generated $8.9 billion in revenue, a record for any third quarter in the bank’s history.
Fixed income trading revenue jumped 21% to $5.6 billion, roughly $300 million above estimates. Equity trading did even better, surging 33% to $3.3 billion, also about $300 million ahead of expectations.
The trading boom reflects market volatility created by Trump administration policies on tariffs and trade, which forced investors worldwide to reposition portfolios quickly—precisely the kind of environment where JPMorgan’s massive trading operation thrives.
Investment banking fees also beat, rising 16% to $2.6 billion versus the $2.5 billion estimate. The more relaxed regulatory stance on mergers under Trump has unlocked deal activity, and JPMorgan’s pipeline remains “robust” according to CFO Jeremy Barnum, who described client sentiment as “upbeat.”
The strong performance came despite JPMorgan setting aside $3.4 billion for potential loan losses, up 9% year-over-year and above the $3.08 billion estimate.
The bank also took $170 million in wholesale charge-offs related to the Tricolor situation, though management noted this involved apparent fraud in secured lending facilities.
See analysts’ growth forecasts and price targets for JPM stock (It’s free!) >>>
What the Market Is Telling Us About JPM Stock
JPMorgan is firing on all cylinders at a time when regional banks are struggling. While the KBW Bank Index is up nearly 15% this year, the KBW Regional Banking Index is actually down roughly 1%.
Trading revenue can be volatile and unpredictable, but JPMorgan is also seeing sustainable growth in wealth management (aided by near-record stock markets) and investment banking (benefiting from deregulation).
The consumer remains resilient, with credit metrics stable or better than expected, and the bank retained its #1 retail deposit share for the fifth consecutive year.
Looking ahead, JPMorgan provided preliminary 2026 guidance with net interest income excluding Markets expected to be around $95 billion.
That’s slightly below what some were hoping for, as retail deposit growth has been pushed out a bit due to strong equity markets pulling money into investments and yield-seeking behavior.
But the bank made clear it remains “quite confident about the overall long-term trajectory.”
On expenses, management flagged that the Street’s consensus of around $100 billion for 2026 “looks a little bit low,” though they’ll provide formal guidance in the fourth quarter. The bank continues to invest aggressively while trying to extract AI-driven productivity gains.
While acknowledging the economy “generally remained resilient,” Dimon emphasized preparing for “a wide range of scenarios” given “complex geopolitical conditions, tariffs and trade uncertainty, elevated asset prices and the risk of sticky inflation.”
With a 20% return on tangible common equity, a fortress balance sheet with 14.8% CET1 capital, and the scale to dominate in any environment, JPMorgan continues to separate itself as the premier bank franchise.
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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!
