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JPMorgan Chase has been a winner in the banking sector, and Jefferies expects that trend to continue. On Tuesday, it gained more than 1% before the bell JPM YTD mountain JPMorgan Chase has climbed more than 8% in 2023. "While JPM has been an absolute and relative outperformer in 2023, its combination of balance sheet strength, strong liquidity positioning, and best in-class earnings generation potential continue to position the bank well," analyst Ken Usdin said. He also said the addition of First Republic to JPMorgan's balance sheet could further juice earnings — while higher fees also strengthen the banks position. JPMorgan Chase is slated to report second-quarter earnings Friday before the bell.
Persons: JPMorgan Chase, Jefferies, JPM, Ken Usdin, Usdin, CNBC's Michael Bloom Organizations: JPMorgan, Jefferies, P Bank ETF, First Locations: First Republic
To create this list, TipRanks analyzed every recommendation made by financial sector analysts in the past decade. Top 10 analysts from the financial sector The image shows the most successful Wall Street analysts from the financial sector, in descending order. 3 on TipRanks' top 10 financial analysts list. To create this list, TipRanks analyzed every recommendation made by financial sector analysts in the past decade. 3 on TipRanks' top 10 financial analysts list.
[1/2] People take photos by the Morgan Stanley building in Times Square in New York City, New York U.S., February 20, 2020. "Expect management teams will open up the defense playbook," said a Morgan Stanley report led by Betsy Graseck. The bank said the sector is already in "systemic risk territory," as the U.S. Treasury, the Federal Reserve and the Federal Deposit Insurance Corporation (FDIC) jointly invoked the systemic risk exception last week. Morgan Stanley also said U.S. banks should tighten lending standards, which will make it tougher to get a loan. "We don't think large banks will come in and entirely fill the vacuum that the regional banks leave, as most banks will want to tighten standards," it said.
[1/2] A person walks past a First Republic Bank branch in Midtown Manhattan in New York City, New York, U.S., March 13, 2023. REUTERS/Mike SegarMarch 17 (Reuters) - Shares of First Republic Bank (FRC.N) lost almost 33% on Friday, totaling a loss of around 80% in the last 10 sessions, despite a rescue package with $30 billion in deposits injected by large U.S. banks. Founded in 1985, First Republic had $212 billion in assets and $176.4 billion in deposits as of the end of last year, according to its annual report. The rescue package came less than a day after Swiss bank Credit Suisse (CSGN.S) clinched an emergency central bank loan of up to $54 billion to shore up its liquidity. The ratings agency had downgraded its outlook on the U.S. banking system to negative earlier this week.
[1/2] A person walks past a First Republic Bank branch in Midtown Manhattan in New York City, New York, U.S., March 13, 2023. REUTERS/Mike SegarMarch 17 (Reuters) - Shares of First Republic Bank (FRC.N) extended losses to 32% in afternoon trading on Friday after being briefly halted as $30 billion in deposits injected by large U.S. banks failed to quell investor worries about the beleaguered lender. First Republic suspended its dividend and disclosed it has $34 billion in cash excluding the new deposit injection. Founded in 1985, First Republic had $212 billion in assets and $176.4 billion in deposits as of the end of last year, according to its annual report. The ratings agency had downgraded its outlook on the U.S. banking system to negative earlier this week.
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