Shares in JP Morgan Chase & Co (symbol ‘JPM’) managed to cover the losses incurred throughout the second quarter and is currently in some minor profits of around 2% compared to the beginning of the quarter. The company is expected to report earnings for the quarter ending June 2023, on Friday 14th of July before markets open. The consensus EPS is $3,66 compared to $2,76 in the same quarter last year.
“The American investment bank has been mentioned in March (when we saw the banking crisis in the US) that it's too big to fail and if we take a look at their financial image it's clear as to why. The company has total assets, as of 31/12/2022, of around $3.6 trillion and a ratio of 1.08:1 compared to its total liabilities. The dividend yield is slightly below 3% while the payout ratio is almost 30%. This means that the company only gives out a third of their profits to the shareholders and invests more on their economic growth.,” says Antreas Themistokleous, an analyst at Exness.
Technical analysis shows the price has been trading in a bullish momentum since late May and is currently facing the resistance area of the upper band of the Bollinger bands and the 61.8% of the weekly Fibonacci retracement level. The 50 day moving average is trading above the 100 day moving average indicating that the overall bullish trend is still valid despite the Stochastic oscillator being in the extreme overbought area.