JPMorgan shares fell nearly 5% in morning trading

Tiger Newspress2022-01-14

JPMorgan shares fell nearly 5% in morning trading.The bank posted its smallest quarterly earnings beat in nearly two years and the lender’s CFO lowered guidance on companywide returns.

CFO Jeremy Barnum told reporters on a conference call that management expected “headwinds” of higher expenses and moderating Wall Street revenue to cause the company’s returns to dip from recent years. That means it’s likely the bank will miss the firm’s 17% target for returns on capital, he said.

“Over the next one to two years, we expect to earn modestly below that target as the headwinds likely exceed the tailwinds,” Barnum said, adding that the goal is still valid over the “medium term.”

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Comments

  • Kimchee
    2022-01-15
    Kimchee
    Technically speaking, bank shares should go up when Fed announces interest hikes.  
  • hotwheels
    2022-01-15
    hotwheels
    interest rate expected to increase
  • Gackky
    2022-01-15
    Gackky
    head exceed tail- so dun expect too much..tail exceed head- [Thinking] [Thinking] 
  • andrew123
    2022-01-15
    andrew123
    Like 
  • PJoo
    2022-01-15
    PJoo
    Indication of headwinds in general
    • Rookie22
      Everything like slowly dropping
  • Alihuat
    2022-01-14
    Alihuat
    Oh gosh.. think I lost my opportunity to win coins for one of thr posts asking which bank will earn the most in this earnings season.... 😶
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