JPMorgan Chase & Co. (NYSE:JPM) is included among the Goldman Sachs Dividend Stocks: Top 14 Stock Picks. JPMorgan (JPM) Sees Investment Banking Holding Up Amid Market Uncertainty pcruciatti / Shutterstock.com On February 23, JPMorgan Chase & Co. (NYSE:JPM) said it expects strong growth in both investment banking fees and markets revenue during the first quarter. This outlook helped ease concerns that the recent sell-off in equity markets could weaken deal activity. In recent weeks, investors had grown c ...

Key Takeaways HSBC reports Q4 and full-year 2025 results on Feb. 25, with revenues and earnings seen up Y/Y.HSBC may get a lift from stronger M&A, IPOs and underwriting, plus solid trading volatility.HSBC expenses may rise on U.K./Asia share push, digital buildout and an overhaul plan.HSBC Holdings (HSBC) is scheduled to announce fourth-quarter and full-year 2025 results on Feb. 25, before market open. The company’s quarterly revenues and earnings are expected to have increased on a year-over-year basis.In ...

Core Insights - Elevation Point has acquired a minority stake in Hampton Bluff Capital Partners, a new Atlanta-based firm managing approximately $1.3 billion in assets, previously part of UBS [1][2] - The founding partners, Krunch Kloberdanz and Justin Runager, aim to provide a boutique feel while maintaining institutional access and resources [2][3] Company Strategy - The team, formerly known as Odyssey Wealth Management at UBS, sought independence to enhance client offerings, including access to multiple lenders and private investment opportunities not typically available through larger firms [3][4] - Elevation Point, founded by former Sanctuary Wealth CEO Jim Dickson, has made 11 strategic investments in independent wealth teams, managing nearly $13.2 billion in client assets since its inception in 2024 [3][5] Client Focus - Hampton Bluff Capital Partners aims to cater to entrepreneurs and high-net-worth individuals, providing access to niche private market deals that align with their clients' interests [4][5] - The partnership with Elevation Point allows Hampton Bluff to leverage a broader ecosystem for investment opportunities, enhancing their service offerings [5]

Core Viewpoint - Bank of America (BAC) stock is trading at a discount compared to the industry, with a price-to-tangible book (P/TB) ratio of 2.04X versus the industry's 3.42X, indicating potential investment opportunity [1][9]. Valuation and Performance - BAC stock has appreciated 20.6% over the past year, outperforming the Zacks Finance sector and the S&P 500 Index, with key peers like JPMorgan and Wells Fargo showing lower gains of 17.1% and 18.8%, respectively [4][3]. - The current valuation and positive price performance suggest that BAC may be a smart investment choice [7]. Interest Rate Impact - The Federal Reserve's interest rate cuts are expected to pressure BAC's net interest income (NII), but factors such as fixed-rate asset repricing and increased loan and deposit balances may mitigate this impact [8][9]. - BAC anticipates a 5-7% growth in NII for 2026, supported by loan and deposit growth despite the rate cuts [11][9]. Network Expansion and Digital Strategy - BAC is focused on expanding its financial centers, having opened approximately 300 new centers since 2019, which has contributed to $18 billion in incremental deposits [12][13]. - The bank's strategy combines digital and physical services to enhance customer relationships and capitalize on new business opportunities [14][15]. Financial Health and Shareholder Returns - As of December 31, 2025, BAC's average global liquidity sources totaled $975 billion, and it has maintained strong investment-grade credit ratings [16]. - The company has raised its dividend by 8% and authorized a $40 billion share repurchase plan, indicating a commitment to returning value to shareholders [19][17]. Investment Banking Performance - BAC's investment banking (IB) fees have shown recovery, with a 31.4% year-over-year increase in 2024 and an 8.4% increase in 2025, driven by a healthy IB pipeline [20][21]. - The company targets mid-single-digit CAGR in IB fees and aims to gain market share through enhanced integration and AI-driven insights [21]. Asset Quality Concerns - BAC's asset quality has been under pressure, with significant increases in provisions and net charge-offs in recent years, although there was a decline in these metrics last year [22][23]. - The bank remains cautious about the impact of high interest rates on its loan portfolio and the broader macroeconomic environment [24]. Earnings Estimates - The Zacks Consensus Estimate for BAC's earnings in 2026 and 2027 has been revised down to $4.30 and $4.93, respectively, indicating growth rates of 12.9% and 14.3% [25][28]. - Despite the downward revision in earnings estimates, BAC's strong performance and strategic initiatives present an attractive risk-reward profile for long-term investors [27][28].

Group 1: HudBay Minerals - HudBay Minerals is a mining company focused on the discovery, production, and marketing of base metals in North and Central America, holding a Zacks Rank 1 (Strong Buy) [1] - The Zacks Consensus Estimate for HudBay's current year earnings has increased by 1.3% over the last 60 days [1] - HudBay's shares have gained 36.9% over the last three months, significantly outperforming the S&P 500's gain of 2.9%, and the company has a Momentum Score of A [2] Group 2: The Goldman Sachs Group - The Goldman Sachs Group is a leading global financial holding company providing investment banking, securities, investment management, and consumer banking services, also holding a Zacks Rank 1 [2] - The Zacks Consensus Estimate for Goldman Sachs' current year earnings has increased by 4.8% over the last 60 days [2] - Goldman Sachs' shares have gained 26.6% over the last three months, again outperforming the S&P 500's gain of 2.9%, and the company possesses a Momentum Score of A [3] Group 3: Alps Electric - Alps Electric is a Japan-based company engaged in the manufacture and sale of electronic components and audio equipment, with a Zacks Rank 1 [3] - The Zacks Consensus Estimate for Alps Electric's current year earnings has increased by 6.9% over the last 60 days [3] - Alps Electric's shares have gained 11.4% over the last three months, also outperforming the S&P 500's gain of 2.9%, and the company has a Momentum Score of A [4]

Core Insights - Morgan Stanley's fourth-quarter 2025 earnings per share reached $2.68, exceeding the Zacks Consensus Estimate of $2.41, marking a 21% increase from the previous year [1][9] Investment Banking Performance - Morgan Stanley's investment banking business benefited from increased deal-making and IPO activities, with advisory fees rising 45% year over year and total investment banking fees surging 47% to $2.41 billion [2][9] - Fixed income underwriting fees jumped 93%, while equity underwriting income grew 9% due to higher convertible offerings and IPOs [2] Trading Performance - Equity trading revenues increased by 10% year over year to $3.67 billion, while fixed-income trading income decreased by 9% to $1.76 billion [3] Wealth and Investment Management - Wealth management and investment management segments showed strong performance, with net income applicable to common shareholders rising 19% to $4.25 billion [4] - Total client assets reached $7.38 trillion, up 19% year over year, contributing to a 13% increase in wealth management revenue [7][9] Financial Metrics - Quarterly net revenues were $17.89 billion, a 10% increase from the prior year, surpassing the Zacks Consensus Estimate of $17.32 billion [5] - Net interest income (NII) rose to $2.86 billion, up 12%, while total non-interest expenses increased by 8% to $12.11 billion [5] Segment Performance - Institutional Securities reported pre-tax income of $2.66 billion, up 9% year over year, with net revenues of $7.93 billion [6] - Investment Management's pre-tax income climbed 13% to $468 million, with net revenues growing 5% to $1.72 billion [7] Capital Position - As of December 31, 2025, Morgan Stanley's book value per share was $64.37, up from $58.98 a year earlier, and the Tier 1 capital ratio improved to 18% [10] Share Buyback - In the reported quarter, Morgan Stanley repurchased 9 billion shares for $1.5 billion [11]

Core Insights - Bank of America (BAC) reported fourth-quarter 2025 earnings of $0.98 per share, exceeding the Zacks Consensus Estimate of $0.95, with an 18% year-over-year growth in earnings [1][9] - The stock experienced a decline of over 2% in pre-market trading due to weak investment banking performance [1] Group 1: Financial Performance - BAC's net revenues reached $28.37 billion, surpassing the Zacks Consensus Estimate of $27.49 billion, marking an 8% increase from the prior-year quarter [6] - Net interest income (NII) grew 10% year over year to $15.92 billion, driven by higher interest income and increased loan balances [6][9] - Non-interest income rose 4% to $12.62 billion, attributed to higher fees and commissions [6] Group 2: Investment Banking Performance - Investment banking (IB) fees in the Global Banking division totaled $973 million, reflecting a 1% decline year over year [3] - Equity underwriting income saw a significant drop of 26%, while debt underwriting income remained stable [3] - Advisory revenues increased by 5% [3] Group 3: Trading and Advisory Performance - Trading revenues, excluding net DVA, grew 10% year over year to $4.53 billion, marking the 15th consecutive quarter of improvement [2] - Fixed-income trading fees increased by 1%, while equity trading income surged by 23% [2] Group 4: Expenses and Efficiency - Non-interest expenses rose by 4% to $17.44 billion, with increases across all cost components except professional fees [7] - The efficiency ratio improved to 61.11%, down from 63.04% in the previous year, indicating enhanced profitability [7] Group 5: Credit Quality - Provision for credit losses decreased by 10% year over year to $1.31 billion [8] - Net charge-offs declined by 12% to $1.29 billion, with non-performing loans and leases as a percentage of total loans at 0.49%, down 6 basis points from the prior year [8] Group 6: Capital Position and Share Repurchase - Book value per share increased to $38.44 from $36.147 a year ago, while tangible book value per share rose to $28.73 from $26.37 [10] - The company repurchased shares worth $6.3 billion during the reported quarter [11]

Core Viewpoint - U.S. Bancorp has announced its acquisition of BTIG, a financial-services firm, for up to $1 billion in cash, indicating a strategic move to enhance its investment banking and trading capabilities [1] Company Summary - U.S. Bancorp is expanding its service offerings by acquiring BTIG, which specializes in investment banking, institutional sales and trading, research, and prime brokerage [1] - The acquisition is valued at up to $1 billion, reflecting U.S. Bancorp's commitment to growing its presence in the financial services sector [1] Industry Summary - The deal highlights a trend in the financial services industry where larger firms are acquiring specialized companies to enhance their service capabilities and market reach [1] - This acquisition may lead to increased competition in the investment banking and trading sectors as firms seek to consolidate resources and expertise [1]

Core Viewpoint - Morgan Stanley is expected to report strong financial results, with significant activity in financial markets and extraordinary asset gathering, as highlighted by Jim Cramer [1]. Group 1: Financial Performance - Morgan Stanley reported a record Capital Markets revenue in the second quarter, driven by equity capital markets activity and equities trading volumes, with a year-over-year increase of 13.6% [2]. - The Wealth Management division of Morgan Stanley experienced a 14% year-over-year revenue growth, supported by a 7% increase in fund flows and strong market share [2]. - The company maintained a 70.7% efficiency ratio, which is 130 basis points below consensus estimates, indicating effective expense management despite strong revenue growth [2]. Group 2: Market Activity - The financial markets are experiencing unusually strong activity, contributing to the positive outlook for both Morgan Stanley and Goldman Sachs [1]. - The asset gathering at Morgan Stanley has been described as extraordinary, reflecting the company's robust performance in the current market environment [1].

Group 1 - JPMorgan Chase & Co. is highlighted as a key stock in Jim Cramer's game plan for the week, with a focus on the upcoming quarterly earnings report and conference call [1] - Concerns are raised about the tone of CEO Jamie Dimon during the conference call, as he tends to emphasize potential risks even in positive situations, which may create apprehension among investors [1] - The company provides a wide range of financial services, including banking, lending, payments, investment management, investment banking, asset management, and advisory solutions [2] Group 2 - While JPMorgan is recognized for its investment potential, there are suggestions that certain AI stocks may offer greater upside potential with less downside risk [3]