#6 - JPMorgan Chase (NYSE:JPM)
Bank stocks are another notoriously cyclical sector. And if you’re looking at bank stocks, you could do far worse than considering JPMorgan Chase (NYSE:JPM). This isn’t a story about cryptocurrency or fintech services, although the company is pivoting into both areas. In fact, the low-interest rate environment is generally a drag on banks.
However, JPM stock dropped just 5% in 2020 and the stock is up 25% for the year. Not only that, but it’s up approximately 50% over the last 12 months. And the bank followed up a strong fourth quarter with an equally strong first quarter. The bank beat earnings estimates by $1.53 and beat on revenue by nearly $2 billion ($1.96 billion).
Recent price targets give the stock some upside. However at this time, JPM stock looks to be consolidating so if you’re not in the stock yet, you may want to wait for a better entry point.
About JPMorgan Chase & Co.
JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit, investment and lending products, cash management, and payments and services; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.
Read More - Current Price
- $248.55
- Consensus Rating
- Hold
- Ratings Breakdown
- 10 Buy Ratings, 7 Hold Ratings, 2 Sell Ratings.
- Consensus Price Target
- $229.31 (7.7% Downside)
