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Here at Vestact we advocate using the products of the stocks we own. It is a good way of knowing if the products produced by your investments are up to scratch. Of course, this is only a small piece of the analysis puzzle but I do think it helps.
Sam covered JP Morgan's Fintech ambitions in detail a few weeks ago. Remember that Finn by Chase is the earmarked brand to target millennials and people who want to do the majority of their transactions on their phones.
JP Morgan is a core New York Vestact portfolio stock. It has unveiled Finn, a new mobile banking product that gives customers online functionality and greater control of their everyday spending and saving.
On Friday JP Morgan crushed expectations for their 1Q numbers with revenue of $28.52 billion (up 10%) and Net Income of $8.71 billion (up 35%). Thanks to share buybacks, their EPS was up an even more impressive 44%.
How important is a superstar CEO? Can one make a case for owning a company just because it has a hero at the helm? Should we blindly back entrepreneurs who start, build and then run great companies?
Last week Friday we received fourth quarter and end of year results from JP Morgan. This is the first results release since we put JP Morgan on our buy list. US companies usually disclose more details on the quarterly movements. I will therefore give a summary of the annual results and then focus more on the quarterly numbers in detail.
There are two key reasons to own JP Morgan now: rising interest rates and new banking technology.
JP Morgan released results that looked decent at face value, it was not just me that thought that, I saw a couple of analyst notes that the business itself was solid, with sound fundamentals and it was just the very average outlook that dented the stock. And the market predictorbots are expecting the company to make in the region of 5 Dollars worth of earnings next year and around 10 percent more the year after that. Huh? The stock trades currently 31.60, that was down 4.82 percent yesterday in the session. That tells you what those types thought, thanks but no thanks.