Wells Fargo: It Might Be Time To Take Another Look [Seeking Alpha]
JP Morgan Chase & Co. (JPM)
Last jp morgan chase & co. earnings: 4/14 06:43 am
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US:NYSE Investor Relations:
jpmorganchase.com/corporate/investor-relations/investor-relations.htm
Company Research
Source: Seeking Alpha
Summary WFC missed the Street's expectations for EPS by a wide margin. Revenues received a double-blow from shrinking margins, as well as the Fed-imposed balance sheet cap. Cost management remained another pain point. The adjusted cost base of $53.7 for the full year 2019 was higher than the management target of $52-53 billion. We find no reason to buy the stock now, recommend staying on the sidelines – but keeping a watch on the resolution of compliance issues, and progress on cost control. Though not our buy calls, we prefer Citi and Bank of America over JPMorgan. Wells Fargo's ( Revenues under tremendous pressure, and will continue to be so Revenues fell 5.3% YoY, while declining 9.8% sequentially: Segment-wise details: Outlook: Expenses outstripped management target; asset quality benign Cost slippages added to WFC's woes. Opex inched up 0.6%, after excluding the significant $1.5 billion litigation provision, and the P&L neutral deferred compensation expense of $691 million.
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JPM
Earnings
- 4/12/24 - Beat
JPM
Sec Filings
- 4/19/24 - Form 424B2
- 4/19/24 - Form 424B2
- 4/19/24 - Form 424B2
- JPM's page on the SEC website