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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
BUY
Time to buy. Recent earnings showed trading gains more than offset by loan loss provisions. Good long-term hold.
BUY

JPM vs. BAC Both incredible companies. All bank stocks are trading at a substantial discount. JPM pays a nice dividend, and trades at a bit of a premium. BAC trades at 0.8x book. Both well run.

BUY ON WEAKNESS
It's been a rough ride this year. The bank has taken loan loss provisions of 18B dollars over the full cycle. Maybe this was over protective and we could see some flow back into earnings over the next few years. If you believe the economy will continue to recover and improve, it should recover. He is adding to his position right now.
TOP PICK
One of the world's largest banks. All big banks are struggling to determine their credit losses, but JPM is likely well-covered. It trades at a reasonable 13x earnings with price to book at 1.2x, and pays a dividend around 3.5%. A fine value proposition. The market likes growth now, but will likely swing back to value like JPM. JM boasts price appreciation and a growing dividend. (Analysts’ price target is $113.82)
HOLD
Collateralized loan obligations? He likes the US banking sector in general, although he holds others than JPM. CLOs are hard to understand. The Fed Reserve looks closely at these in depth. He is not concerned about their exposure in CLOs and believes they are well capitalized.
PAST TOP PICK
(A Top Pick Jul 10/19, Down 9%) The only US bank she holds. Best in class. Increased loss provisions in second quarter, using a worse than base case scenario. Outlook is quite murky. Still paying dividend, and company believes they can still do so.
BUY

A lot of negative sentiment has been out there regarding banks. BAC is a strong business, he favours JPM. They are both well diversified and have good valuations. The US banks were cleansed of the their toxic assets back in 2008-09. He would buy both.

COMMENT
In 2000 we saw that collateralized debt pulls were effectively held off-balance sheet. These can result in the results being quite volatile. This time they are a little more in-house, but in the end the entity that holds them could be in for some significant pain. In Canada the banks hold them and will pursue you to the fullest extend of the law.
TOP PICK
He recently bought this off the March lows. He felt it was a compelling buy, trading not far from its book value. A very senior bank in the US and probably the highest quality. They have a great capital position coming off the 2009 crisis. Yield 3.56% (Analysts’ price target is $109.21)
COMMENT

US financials? They own JPM as they have a well diversified business and strong balance sheet. GS is more a capital market sensitive company, which puts more pressure on them. She suggests having Canadian and US banks in your portfolio.

PAST TOP PICK
(A Top Pick Jun 04/19, Down 17%) He would still stick with US banks. Their results were not a high surprise to markets. He likes it because it is like a bank conglomerate. There may be issues around the dividend but it is a high quality holding. He continues to hold it.
BUY
Great company. Incredible balance sheet. Really nice dividend. If you have US dollars, it makes more sense than using Canadian dollars. Not worried about the CEO. It has a great franchise among very diversified areas of the banking industry.
BUY
It is the cream of the crop in US banks. The CEO has not been well. The day he retires the stock may take a dive. The valuation has dropped in this market so it is certainly worth looking at.
TOP PICK

TD his other big bank holding, but JPM has outperformed it. It's held up. They've invested tens of billions in technology. A better management culture than its peers, like Citi. He doesn't expect a US recession. (Analysts’ price target is $139.27)

COMMENT

Wells Fargo has gone nowhere. There has been poorly managed but they have a new CEO. However, he looks for companies with good organic revenue growth that are not in the penalty box that delivers on growth. He prefers JP Morgan. They keep growing earnings, raising dividends and has a good balance sheet.

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