JPMorgan Kick Off Bank Earnings Season

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  • #20393
    ThePitBoss
    Participant

    JPMorgan Chase, America’s largest bank report Q1 earnings…

    [article]1453[/article]

    #20419
    ThePitBoss
    Participant

    JPMorgan Chase (JPM) could see slower growth in lending revenue say analysts at Keefe, Bruyette & Woods.

    KBW sees JPMorgan’s loan growth slowing to an estimated 2.4% in 2019 and 2.2% in 2020 from 4.2% in 2018. Sees JPMorgan’s loans probably increased an an annualized pace of 2.6% in the first quarter, down from 4% in the fourth quarter.

    “Our loan growth forecast reflects our view of economic growth slowing which should cause a decline in credit demand,” the KBW analysts wrote.

    “For JPM, slower growth is driven by a slower growth rate for wholesale loans and seasonality in the cards business,” wrote the analysts, led by Brian Kleinhanzl.

    KBW cut its estimates of JPMorgan’s 2019 earnings per share to $9.51 from $9.55, below Wall Street analysts’ average estimate of $9.70 for the year.

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