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NYSE:JPM

JP Morgan Chase & Co (JPM)

325.75
+0.53 (0.16%)
as of Jun 18, 2026, 11:46:26 pm Market Open.
308 watching
0
TOP PICK

Great company but had a large but solvable problem. The problem was the trading loss which wiped out a lot of the market value. Trading at an unbelievable cheap valuation compared to the Canadian banks. Raised its dividend in March. US banks look very attractive and have a nice tie to the housing market. Earnings are at record levels. Think they'll do a big share buyback.

DON'T BUY
Prefers staying in Canada for financial groups. There is higher beta associated with the US banks.
COMMENT
Despite the problems of the write down, it is really the best managed US bank. The group is still difficult. There are all kinds of political pressure on the group. Will probably perform better than most of the other US banks. However they trade at a premium multiple because they stayed out of trouble but when they got into trouble they premium came off and they will have to earn their way back. He is neutral on the US banks.
TOP PICK
(Bull Put Spread.) Selling a $35 Put and buying a $25 Put with an expiration date of Sept. Thinks current price is a low for this company. Expects the premium will expire worthless in September and you just keep the money.
DON'T BUY
He doesn't see any value in US banks. Why fool around with US banks when you can buy Canadian?
BUY
Until last week it was a well-run company. The market over reacted. You will probably make some money out of this one but you have to take the volatility.
COMMENT
Would you Short this one? No. We have seen a lot of the damage come out of the stock in the last couple of days. Stock pays a decent dividend, so if you are Shorting it, you have to cover the dividend is well.
DON'T BUY
Prefers Canadian banks but this is probably the cream of the crop in terms of US banks.
BUY
Just came up with good quality earnings. You are seeing a return of the consumer. Loan reserves going back into earnings. Well run company. Large investment bank. May not be as stable as Wells Fargo. 2.7% dividend.
BUY
If he bought a US financial it would be this one. They are one that passed the stress test and raised the dividend. But as a Canadian, why would you want to be in US banks.
DON'T BUY
Been in the news because of stress testing. Announced yesterday they are raising dividend and increasing buy backs. His question is what is the catalyst for earnings. He owns GS.
BUY
American banks are very cheap at these levels. US economy is improving. This one has a fantastic retail franchise and a great investment bank. This is a great time to be buying these things. (See Top Picks.)
DON'T BUY
Banking stocks had this bounce back on a technical basis only. They were cheap and very oversold, so bounced back. This is one of the best of the group. Housing problems cause difficulty in mortgage originations. From a fundamental perspective it is hard to get excited.
COMMENT
Shorter-term, he expects it to move up. Fears from Europe had dissipated a little bit. He would prefer a smaller bank such as Keycorp (KEY-N).
TOP PICK
(A Top Pick Nov 8/10. Down 18.59%.) Way too big to fail. Model price is $47.52. Quality name compared to others.
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