JP Morgan Chase
The stock is rising after the bank lifted its 2022 net interest income forecast.
JPMorgan’s (Ticker: JPM) Investors’ Day, which begins at 8 a.m. earlier in the day, is an opportunity for the bank to convince investors that it has not lost its “fastball,” an analyst said this month.
So far so good. Prior to the meeting, the bank reaffirmed its intention to return to 17% tangible capital equity – a key measure of profit – and said it could achieve this mark this year. It also expects net interest income in 2022, in addition to the $ 56 billion market – it previously expected more than $ 53 billion – where the cost forecast was set at $ 77 billion.
JPMorgan’s reputation for outperforming other banks has plummeted this year. The largest U.S. lender in terms of market value had to raise its estimates for this year’s spending, saying it expects a slight decline in capital levels.
Wells Fargo analyst Mike Mayo wrote last week that the challenge for JPMorgan CEO Jamie Dimon is to convince investors that the largest US bank in terms of market value will outperform its peers.
The stock rose 1.4% in premarket trading on Monday. For the future
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