CORRECTED-JPMorgan beats Q4 profit estimates helped by asset management

Overview

• U.S. bank's Q4 revenue slightly missed analysts' expectations

• Adjusted EPS for Q4 beat analysts' expectations

• Company announced $7.9 bln stock repurchase program

Outlook

• JPMorgan remains committed to investing capital to drive future growth

• Company sees U.S. economy as resilient but cautious of geopolitical risks

Result Drivers

• CCB GROWTH - Revenue in Consumer & Community Banking rose 6%, driven by new customer acquisitions and increased card sales volume

• MARKETS REVENUE - Corporate & Investment Bank markets revenue increased 17%, benefiting from strong client activity and demand for financing

• AWM INFLOWS - Asset & Wealth Management revenue rose 13% to record $6.5 bln, driven by significant client asset inflows and favorable market conditions

Key Details

*Applies to a deviation of less than 1%; not applicable for per-share numbers.

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 15 "strong buy" or "buy", 9 "hold" and 2 "sell" or "strong sell"

• The average consensus recommendation for the banks peer group is "buy"

• Wall Street's median 12-month price target for JPMorgan Chase & Co is $336.00, about 3.5% above its January 12 closing price of $324.49

• The stock recently traded at 15 times the next 12-month earnings vs. a P/E of 16 three months ago

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