What to Expect From JPMorgan Chase's Upcoming Earnings
JPMorgan Chase (NYSE: JPM), the largest bank in the U.S. by total assets, will kick off earnings season, as it normally does, on Jan. 14 when it reports results from the final three months of 2021 and full-year earnings. The stock had a nice year in 2021, appreciating nearly 25%, which fell short of competitors like Wells Fargo, Bank of America, and also the S&P 500 index, although the bank trades at a pretty high valuation right now.
Analysts on average expect JPMorgan to report just shy of $3 in earnings per share (EPS) for the fourth quarter on revenue of $29.8 billion. For the full year, the average analyst projection is roughly $15 of EPS on total revenue of $123.5 billion. Here's what to expect from the bank in its upcoming earnings report.
Lending and the bank's corporate and investment bank are the two largest drivers of revenue at JPMorgan Chase. Lending has been hit hard since the pandemic began. Consumers have been flush with cash, while businesses have not been taking on debt with the uncertainty and supply chain issues. Low rates have left the bank with nowhere productive to deploy its excess cash.
Source Fool.com
