This Underperforming Stock Raised Its Guidance -- Is It a Buy Now?
Amid high levels of inflation, rising interest rates, growing concerns of a recession, and Russia's invasion of Ukraine, the S&P 500 has fallen more than 16% this year, returning a lot of the gains it made in 2021. JPMorgan Chase (NYSE: JPM), the largest bank by assets in the U.S., has fared worse, with its stock down roughly 18.5% this year. But recently, JPMorgan raised its full-year outlook and now believes it can generate higher returns in 2022 than it initially thought a few months ago. Has the stock been oversold? Let's take a look.
One of the main sources of revenue at most banks is net interest income (NII), which is the profits banks make on loans, securities, and cash after covering the cost of funding those assets.
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Source Fool.com
