JPMorgan Chase & Co - New York NY United States - Company Snapshot

Latest from Alacra Pulse

Analyst Comment by Dealbreaker

10:07 ET May 22, 2012

JPMorgan's Losses Are Rival's Boons ( WSJ). A group of about a dozen banks, including Goldman Sachs Group and Bank of America have scored profits that collectively could total $500 million to $1 billion on trades that sometimes pit them directly against J. P. Morgan's Chief Investment Office, according to traders and people close to the matter. Facebook 11% Drop Means Morgan Stanley Gets Blame ( Bloomberg).
Dealbreaker: Opening Bell: 05.22.12

Analyst Comment by The Mortgage Lender Implode-O-Meter

09:57 ET May 22, 2012

JPMorgan Chase & Co. may face even bigger losses on faulty bets in credit markets if Europe's debt crisis worsens, according to one of the hedge funds that took the other side of the trades. Platt said he doubted Dimon's explanation that the trades had spawned from hedges intended to protect the value of credit assets such as corporate loans. "I don't think they could be described in any way as a hedge," he said.
The Mortgage Lender Implode-O-Meter: JPMorgan Counterparty Platt Says Bank's Loss May Widen; Were Not "Hedges"

Analyst Comment by Richard Bove at Rochdale Securities

08:31 ET May 22, 2012

Rochdale Securities financial analysis by Richard Bove on JPMorgan Chase + Co

JPMorgan is one of the best banks in the United States and one of the best managements in the industry, and one trading error will not change that, Richard Bove, vice president of Equity Research, Financial Sector at Rochdale Securities told CNBC's "Worldwide Exchange." "There are only five companies in the United States that made more money than JPMorgan last year so to assume that this staggeringly successful, profitable company might now be in trouble is a farce," Bove said
CNBC - Top News and Analysis: JPM is a Buy; Rumors of Trouble are a 'Farce': Bove

Analyst Comment by UBS

08:08 ET May 22, 2012

The analyst said that UBS's "$46 price target assumes JPM will trade at 1.2x our 4Q12 [tangible book value] estimate in 12 months (vs. 10 year avg of 2.1x)," and that his firm believes "the trading incident will not permanently impair JPM's ability to generate mid teens [returns on tangible equity], and believe its current valuation of 0.9x TBV will prove an extremely attractive entry point.".
TheStreet.com: JPMorgan 'Compelling' Despite Lower Price Target: UBS

Chief Pulse Comment by James Dimon

00:46 ET May 22, 2012

"JPMorgan is going down the credit spectrum from U. S. Treasuries, because they're reaching for yield.". The concentration of assets that carry the risk a borrower might default reflects JPMorgan Chief Executive Officer Jamie Dimon's push over the past five years to seek higher returns at the New York based bank's chief investment office, as reported by Bloomberg News April 13. Dimon said at an investment conference yesterday that the bank has more of such assets than competitors, while asserting it isn't taking undue risks. "We have more credit exposure than other people, and we think when we put that credit exposure on, it was actually very good," said Dimon, 56. "We bought some triple A securities that we think are as good as gold.". About half of the $381.7 billion in JPMorgan's chief investment office portfolio is in company bonds, asset backed securities and mortgage debt not backed by the U. S government, according to a March 31 filing
BusinessWeek: JPMorgan Veered From Hedging Practices at Competing Banks

Thomson Reuters Business Description

JPMorgan Chase & Co. (JPMorgan Chase) is a financial holding company. The Company is a global financial services firm and a banking institution in the United States, with global operations. The Company is engaged in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, asset management and private equity. JPMorgan Chase’s principal bank subsidiaries are JPMorgan Chase Bank, National Association, a national bank with the United States branches in 23 states, and Chase Bank USA, National Association, a national bank that is the Company’s credit card-issuing bank. JPMorgan Chase’s activities are organized into six business segments, as well as Corporate/Private Equity. The Company’s wholesale businesses comprise the Investment Bank (IB), Commercial Banking (CB), Treasury & Securities Services (TSS) and Asset Management (AM) segments.