JP Morgan Chase & Co (JPM)

Likes the money centre banks. Will do well with a normalized yield curve, as it enhances net interest margins. Fed signalling interest rates coming down should depress the short end of the curve, with the long end maintaining itself somewhat.

The group is trading at about a 30% discount to normalized valuations of around 13.5x earnings. That carries through to book value, trading at discounts to historical norms. He owns JPM, BAC, and MS, and that's where he'd put money.

The best of the best. Trading below historical valuations. Wind at its back, lower rates are its friend. He'd be a buyer.

Very well run company. Trading around ~8x earnings. 40% premium to book value. Will consistently perform well.  Expecting loan book to expand as we avoid recession. Would advise holding stock for the long term. 

It is the largest bank in the U.S. and has a strong balance sheet. It bought First Republic in May and this has been very accretive, targeting high net worth clients. It benefits from volatility in the smaller regional banks. She likes the CEO and management has a conservative approach.
Buy 23  Hold 9  Sell 0

He rode a covered call in anticipation of volatility. He captured a 90-cent profit one day, then closed it out.

He had sold the banks (MS, BAC, but is long JPM) to buy QQQs, and he stands by that rotation. If any banks decline, it would be the regional ones, which he's avoided since the spring crisis. His outlook on the banks is limited upside, given regulations restricting hoarding capital on the balance sheet, which will impede loan growth. Plus, the economy will start of contract. MS and BAC are good companies, but he'd rather buy the debt of these stocks, because their balance sheets will be fortified.

Owns shares of the company.
Favorite USA large cap banking company.
Regional banking crisis in the spring increased demand for products.
Not worried about economy slowdown impacting bank.
Reserves for loan losses have been set aside.
Good time to buy with recent share price weakness.

Hats off to an amazing quarter recently.

Today, their Q2 earnings were incredibly strong. You were rewarded to holding onto your bank stocks. It's the best of this sector.

Banks reported their Q2 today. JPM's loan-loss provisions are $100 billion lower a year ago if you strip out First Republic. That says something about the trajectory of the economy. Add to that the CEO's bullish comments about the economy and his bank's forecast. Without First Rep., they beat profits at 40%, a 67% profit rise with FR. Massive.

Banks have had a tough time. As we head toward the end of rate tightening, financials are a great place to be. IPO  market will eventually take off. Financials have never been in a better position than today, due to regulation and good stewardship. Trades at 9x earnings, historical level for banks is 13x. 2x tangible book value, not inexpensive but you get a lot for what you pay. Cream of the crop. Yield is 2.68%.

Favourite US bank. Thinks highly of leadership. Solid at this level. Regional troubles will benefit the "too big to fail" banks, as they gobble up assets. 

One of the best among financials, though the stock price may not always reflect that. Pays a dividend below 3%, are growing earnings, and are spending a lot in tech which are starting to pan out. He isn't bullish all the financials but JPM is how to play this space.

Great bank. He's not sure if there's a specific great time to buy, but one you want to own if you have a long-term view. Buying assets of First Republic was a very good deal.

Undervalued. America's dominant bank despite the recent deposit run among regional banks. And yet shares have declined from $156 to $127. They report Friday and it could report a disappointment, but if the Fed declares victory over inflation, JPM could be THE stock to own. Pays a 3% yield, too.