Opinions Darren Sissons
JP Morgan Chase & CoJPMCOMMENTDec 22, 2014
Darren SissonsStock price when the opinion was issued
As of Oct 21, 2026. Market Open.
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They just reported a clear top and bottom line miss, though net interest income beat. The non-interest income and asset management missed. Expenses rose faster than revenue. Shares fell at first, but recovered when management offered a a positive forecast. Overall, results were mixed but the outlook makes this a winner.
It's all about the scale, and JPM's scale is tremendous. Largest US bank, and in over 100 countries. Built for almost any type of economic environment. Multiple revenue engines. Announced $50B share buyback. Strong performance due to increasing confidence about the economy.
Chart shows 200-day MA trending higher, and series of higher highs and higher lows. Yield is 1.71%.
Stan WongLikes for the long term. Big selloff today is hitting all financials, probably something to do with this afternoon's Fed decision. Good holding long term. Valuations are getting up there, but still making a lot of money.
Tim ReganThere is also a Canadian CDR (hedged) version but he prefers the actual stock in US dollars. He doesn't like the hedged versions of stocks which neutralize the foreign exchange component and prefers the benefit of owning companies in US dollars. He owns this and other US financials. Canadian banks have done very well.
Gordon ReidStill the biggest and best global bank in the world. A good time to buy is any day that ends in "y".
Brian MaddenVery good dividend growth trajectory last 10 years. Share buybacks. Best risk manager in the US banking space -- saw that firsthand in 2008. Keeps getting better and better. Yield is 1.95%.
(Analysts’ price target is $343.06)Darren SissonsBit of delay in reward, but whole banking sector's in a great position. Tons of capital markets business coming on. Yield curve steepening is really the money driver behind borrowing/lending. Very strong trading numbers.
Gordon ReidCapital markets broadly are improving, so more investment fees should come through. Deregulation coming through, consumer not as badly off as feared. Good place to start looking, given the sector's lagged. Yield is 2%.
Stan WongAll the North American banks had a great 2025. JPM is the most profitable US one. The dividend yield is rising and financial results have been strong. Is the US bank to own.
Christine Poole
Best bank in the world. Owned in his firm's momentum and dividend-growers mandates.
Likes US banks, but likes Canadian banks better due to the tighter oligopoly and better ROEs. US money-centre banks are technology- and scale-advantaged compared to regionals.
Brian Madden
Wells Fargo (WFC-N) or J.P. Morgan (JPM-N)? A lot of the small mid-cap oil companies have heavy exposure, from a banking point of view, along refined (?) equity issues. Not sure of the concentration for the oil exposure, but given the run-up we have had globally, he would think that everything from the A&P companies to the pipelines, etc. will have impacts. Historically Wells Fargo has been considered to have the best risk management culture. This showed up during the banking blow-up, as they didn’t have to take the money. This bank was considered to be #2. Both are quite good. Wells Fargo is more of a consumer driven story where this one is a banking driven story. He would rather chase the regional trade, because there is still a lot of regulatory glare been exposed to the money centred banks. Of the 2, he would favour Wells Fargo.