Why JPMorgan Chase Stock Sank 6% Today
Stock of JPMorgan Chase Co. (NYSE: JPM) -- America's biggest bank both by revenue and by market cap -- is tumbling on Friday, down 5.8% through 11:05 a.m. ET despite the bank reporting big beats on both revenue and earnings for its first quarter of fiscal 2024.
Heading into the quarter, analysts had JPMorgan pegged for a $3.82-per-share profit on revenue of $38.5 billion. But then the bank reported profits of $4.63 per share (adjusted for one-time items; net earnings were $4.44), and revenue of $41.9 billion -- an earnings beat by any measure.
CEO Jamie Dimon characterized his bank's results as "strong," noting the difference between adjusted and net earnings came from a $750 million "special assessment" by the Federal Deposit Insurance Corp. (FDIC) to help insure against future losses.
Source Fool.com
JPMorgan Chase & Co. Aktie
Und JPMorgan Chase & Co. steht derzeit mit 34 Buy-Einschätzungen und keiner einzigen Sell-Einschätzung bei unserer Community hoch im Kurs.
Das Community-Kursziel von 202 € für JPMorgan Chase & Co. deutet auf ein leicht positives Wachstumspotenzial gegenüber 194.82 € hin.
