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JP Morgan (NYSE:JPM) Stock Overview – All You Need to Know About JP Morgan Chase & Co

TABLE OF CONTENTS

JP Morgan (NYSE:JPM) Stock Overview – All You Need to Know About JP Morgan Chase & Co

JP Morgan (NYSE:JPM) Stock Overview – All You Need to Know About JP Morgan Chase & Co

Vantage Updated Updated Fri, 2024 January 26 02:02

About JP Morgan Chase & Co

History of the company [1]

JP Morgan Chase & Co was officially formed with the 2000 merger between Chase Manhattan Corporation and JP Morgan & Co Incorporated. The firm is built on the foundation of more than 1,200 predecessor institutions, several of which were instrumental in the development of the United States economy as well as the global financial system.

Besides Chase Manhattan and JP Morgan & Co, other well-known heritage firms include Bank One, Manufacturers Hanover Trust Co., Chemical Bank, The First National Bank of Chicago, National Bank of Detroit, The Bear Stearns Companies Inc., Robert Fleming Holdings, Cazenove Group and the business acquired in the Washington Mutual transaction.

Some of the firm’s notable mergers in the past 20 years include the 2004 acquisition of Bank One. In 2008, following the subprime mortgage crisis, JP Morgan Chase took over Bear Stearns and Washington Mutual as part of a deal to stabilise the global financial system.

Shortly after in 2010, the firm achieved full ownership of its U.K. joint venture, J.P. Morgan Cazenove, with origins dating to 1823.

Business segments [2]

JP Morgan Chase & Co is headquartered in New York, United States, and has total staff strength of over 290,000 [3]. The company organises its operations into five main segments.

Consumer & Community Banking

This segment serves retail consumers, providing retail deposit and investment products, cash management, payment solutions, mortgage origination and servicing, credit-card issuance, and auto loans. 

It is the one of the largest business segments by income, providing 37% of total net income in Q4 FY 2021 [4].

Corporate & Investment Banking

Through this segment, JP Morgan Chase & Co offers investment banking, market-making, prime brokerage, and treasury and securities products and services to corporations, investors, financial institutions, and governments.

In Q4 FY 2021, Corporate and Investment Banking contributed around 37% of total revenue [5]

Commercial Banking

JP Morgan Chase & Co also provides a comprehensive range of financial solutions, including lending, payments, investment banking, and asset management products to corporate and commercial clients such as small businesses, mid-sized and large corporations, and local governments.

The segment was responsible for around 8% of total revenue for Q4 FY 2021 [6]

Asset & Wealth Management

The Asset & Wealth Management segment provides services across all asset classes, with assets under management of over USD$4 trillion in 2021 [7]. Other services offered include retirement products and services, brokerage and banking.

In Q4 FY 2021, this segment contributed around 14% of total revenue [8].

Corporate 

Lastly, the Corporate segment measures, monitors, reports, and manages the bank’s liquidity, funding, capital, and foreign exchange risks, among other functions. 

In Q4 FY 2021, the segment incurred a loss of USD$1.1 billion, and thus returned negative revenue [9].

About the stock JPM

JPM trading information

  • Primary exchange: NYSE
  • Ticker: JPM
  • Country: U.S. 
  • Currency: USD
  • Trading hours:
    • Main: 9.30am to 4pm ET, Mon to Fri
    • Pre-market: 4am to 9.30am
    • After-market: 4pm to 8pm 

When was JPM listed? 

In 1942, the company (then known as JP Morgan & Co. Incorporated) went public [10].

At the time of writing, the share price of JPM is USD$136.74. The stock’s highest price was seen on 22 October 2021, when it closed the day at USD$163.96 [11].

Stock splits

JPM has undergone four stock splits, between 1982 to 2000 [12]. The total number of JPM shares outstanding is estimated to be 2.97 billion [13]

DateStock Split
Mar 20003 for 2
Mar 19982 for 1
Feb 19843 for 2
Feb 19823 for 2

Dividends [14]

JPM is a dividend-paying stock, and dividends are paid out every quarter. In 2022, the company paid a total of USD$4 per share for the year, split over four dividend payments.

Latest developments investors should note 

JP Morgan

JP Morgan Chase & Co sees record revenue for Q1 FY 2023 [15]

JP Morgan Chase & Co latest earnings report saw the firm achieve USD$38.3 billion in revenue, a record result that drove net income in Q1 FY 2023 to USD$12.6 billion. This meant that earnings per share came up to USD$4.10 for the quarter.

Across the firm, average loans increased by 6% to USD$1.1 trillion, although average deposits fell by around 8%.

In terms of segment-specific highlights, the Consumer & Community Banking segment saw average loans rise by 5% year-on-year, and a 10% increase in debit and credit card sales volume. 

The Corporate & Investment Banking segment maintained its #1 ranking for Global Investment Banking fees with 8.7% wallet share. Total markets revenue was USD$8.4 billion for the quarter.

The Commercial Banking segment saw gross investment banking revenue jump by 21% to USD$881 million. Meanwhile average loans increased by 13% year-on-year, and average deposits fell by 16%.

Lastly, the Asset & Wealth Management segment reported USD$3 trillion in assets under management, an increase of 2%. 

Commenting on the quarter’s results, CEO Jamie Dimon said, “We continued to generate considerable amounts of capital, and our CET1 ratio increased to 13.8%, compared to a regulatory requirement of 12.5% and our target of 13% for the first quarter (which we had already exceeded).” [16]

He attributed the firm’s strong performance to several factors, including “years of investment

and innovation, vigilant risk and controls framework, and fortress balance sheet (approach)”.

Trade JPM with Vantage 

Vantage offers convenient and secure trading of JPM and other leading stocks. With share Contracts for Difference (CFDs), traders can access trading opportunities on price movements in all directions, without having to own the underlying asset.

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References

  1. “History of Our Firm – JPMorgan Chase & Co” https://www.jpmorganchase.com/about/our-history Accessed 26 May 2023
  2. “How JPMorgan Makes Money – Investopedia” https://www.investopedia.com/how-jpmorgan-makes-money-4798002 Accessed 26 May 2023
  3. “JPMorgan Chase & Co – Google Finance” https://www.google.com/finance/quote/JPM:NYSE?sa=X&ved=2ahUKEwiElPyQ4N_-AhXY-jgGHb8nASwQ3ecFegQILhAf Accessed 26 May 2023
  4. “How JPMorgan Makes Money – Investopedia” https://www.investopedia.com/how-jpmorgan-makes-money-4798002 Accessed 29 May 2023
  5. “How JPMorgan Makes Money – Investopedia” https://www.investopedia.com/how-jpmorgan-makes-money-4798002 Accessed 29 May 2023
  6. “How JPMorgan Makes Money – Investopedia” https://www.investopedia.com/how-jpmorgan-makes-money-4798002 Accessed 29 May 2023
  7. “How JPMorgan Makes Money – Investopedia” https://www.investopedia.com/how-jpmorgan-makes-money-4798002 Accessed 29 May 2023
  8. “How JPMorgan Makes Money – Investopedia” https://www.investopedia.com/how-jpmorgan-makes-money-4798002 Accessed 29 May 2023
  9. “How JPMorgan Makes Money – Investopedia” https://www.investopedia.com/how-jpmorgan-makes-money-4798002 Accessed 29 May 2023
  10. “J.P. Morgan Chase & Co. – Company Profile – Reference for Business” https://www.referenceforbusiness.com/history2/18/J-P-Morgan-Chase-Co.html Accessed 26 May 2023
  11. “JPMorgan Chase – 40 Year Stock Price History | JPM – Macrotrends” https://www.macrotrends.net/stocks/charts/JPM/jpmorgan-chase/stock-price-history Accessed 26 May 2023
  12. “Stock Split History – JPMorgan Chase & Co” https://jpmorganchaseco.gcs-web.com/ir/shareholder-information/stock-split-history Accessed 26 May 2023
  13. “JPMorgan Chase Shares Outstanding 2010-2023 | JPM – Macrotrends” https://www.macrotrends.net/stocks/charts/JPM/jpmorgan-chase/shares-outstanding Accessed 26 May 2023
  14. “Dividend History – JPMorgan Chase & Co” https://jpmorganchaseco.gcs-web.com/ir/shareholder-information/dividend-history Accessed 26 May 2023
  15. “Quarterly Earnings – JPMorgan Chase & Co” https://www.jpmorganchase.com/ir/quarterly-earnings Accessed 26 May 2023
  16. “Quarterly Earnings – JPMorgan Chase & Co” https://www.jpmorganchase.com/ir/quarterly-earnings Accessed 26 May 2023
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