#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 is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.
More about JPMorgan Chase & Co.- Current Price
- $210.09
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 10 Buy Ratings, 9 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $254.83 (21.3% Upside)
