JPMorgan (JPM) , which has long considered overseas markets as a key contributor to its growth, now seeks to expand in the African continent. Per a Reuters report, citing four sources familiar with the matter, the bank’s CEO, Jamie Dimon, will travel to Africa in mid-October.JPMorgan has already been offering asset and wealth management, and commercial and investment banking services in South Africa and Nigeria.During his trip next month to Africa, which will be the first in seven years, Dimon is expected t ...

The Federal Reserve granted the market its wish and lowered its benchmark federal funds rate by 50 basis points.For the first time in more than four years, the Federal Reserve has lowered the target range for its benchmark federal funds rate, announcing a half-point rate cut on Wednesday. Lower interest rates can serve as a shot of adrenaline for stocks, because lower treasury yields make riskier assets more appealing.Banks and other financial companies should benefit too, as long as there isn't a severe re ...

Note: The following is an excerpt from this week’s Earnings Trends report. You can access the full report that contains detailed historical actual and estimates for the current and following periods, please click here>>>Here are the key points:Estimates for 2024 Q3 have come down since the start of the period, with the magnitude of estimate cuts significantly bigger than what we had seen in the comparable periods of the year's first two quarters. This negative shift in the revisions trend reverses the prior ...

The U.S. bank mergers will face tougher scrutiny under new guidelines from three agencies — the Federal Deposit Insurance Corporation (FDIC), the Office of the Comptroller of the Currency (OCC) and the Justice Department (DOJ). On Tuesday, the FDIC voted to increase the examination levels that directly consider an acquisition's impact on communities, consumers, competition and financial stability. The DOJ and the OCC released modifications and guidelines on their assessments of bank transactions.FDIC Guidel ...

JPMorgan (JPM) has announced an increase in its quarterly dividend. The company declared a dividend of $1.25 per share, which marks an 8.7% rise from the prior payout. It will be paid out on Oct. 31, 2024 to shareholders of record as of Oct. 4. The hike is in line with JPMorgan’s previous announcement to hike its dividend after the clearance of the 2024 stress test.Similarly to JPM, State Street (STT) and PNC Financial Services (PNC) raised their quarterly dividends as they cleared this year’s stress test. ...

America’s largest bank is increasing its expansion efforts outside the U.S.J.P. Morgan Chase is hiring bankers in cities like Stockholm and Copenhagen to expand its Nordic business and take on European banks, officials from the lender told Bloomberg News in an interview Wednesday (Sept. 18).And a report Wednesday from Reuters notes that CEO Jamie Dimon plans to travel to Kenya, Nigeria, South Africa and Ivory Coast next month to boost the bank’s expansion in Africa.According to the Bloomberg report, J.P. Mo ...

Blue-chip bank stock JPMorgan Chase (JPM) is nursing an 8% deficit in September, cooling off from its Aug. 30 all-time high of $225.48. Last seen lower today to trade at $206.99, it might be time to buy the dip, if past is precedent, as this pullback has JPM encountering a historically bullish trendline.The trendline in question is the shares’ 100-day moving average and per Schaeffer's Senior Quantitative Analyst Rocky White, JPM has run into this trendline seven times in the last three years. For the purpo ...

JPMorgan (JPM) wants to increase its corporate banking presence in the Swiss markets by utilizing its blockchain technology. Lutz Karl, who oversees JPM’s corporate banking operations in Germany, Switzerland and Austria, said that the Wall Street giant is in discussions with potential clients in Switzerland as the bank projects significant growth in its Swiss corporate banking division over the next three to five years.JPMorgan’s blockchain services are already being used in Germany by Siemens, which is the ...

Shares of JPMorgan (JPM) slumped 5.2% yesterday following statements by the company's president and chief operating officer, Daniel Pinto, during the Barclays Global Financial Services Conference.Pinto provided third-quarter 2024 outlook for major business lines and warned about a potential decrease in 2025 net interest income (NII) – the difference between what banks earn on their assets and what they pay on debts – due to interest rate cuts.JPMorgan’s 2025 NII to be Lower Than Previously ExpectedPinto not ...

Investors often turn to recommendations made by Wall Street analysts before making a Buy, Sell, or Hold decision about a stock. While media reports about rating changes by these brokerage-firm employed (or sell-side) analysts often affect a stock's price, do they really matter?Before we discuss the reliability of brokerage recommendations and how to use them to your advantage, let's see what these Wall Street heavyweights think about JPMorgan Chase & Co. (JPM) .JPMorgan Chase & Co. currently has an average ...