JPMorgan Chase CEO Jamie Dimon still bullish on economy

3 US banks post higher profits with huge assist from tax law

JPMorgan Chase CEO Jamie Dimon still bullish on economy

Revenue: $27.9 billion, ahead of analyst expectations of $27.7 billion. Citigroup reiterated a buy rating and issued a $220.00 price objective on shares of Facebook in a report on Thursday, February 1st. They now have a $242.00 price objective on the social networking company's stock.

Facebook (NASDAQ:FB) last posted its quarterly earnings results on Wednesday, January 31st. The stock has "Sell" rating by UBS on Wednesday, March 28.

Since November 17, 2017, it had 0 buys, and 1 sale for $292,234 activity. In Friday, January 12 report BMO Capital Markets maintained it with "Hold" rating and $110.0 target. On a per-share basis, JPMorgan earned $2.37 a share, up from $1.65 per share, beating analysts' forecasts. Finally, JMP Securities set a $235.00 price objective on shares of Facebook and gave the stock a buy rating in a report on Thursday, February 1st.

Net income for the first quarter was $8.7 billion, up 35.1% from the same time a year ago. Following the acquisition, the director now directly owns 305,875 shares of the company's stock, valued at $34,677,048.75. The company's stock had a trading volume of 16,619,861 shares, compared to its average volume of 16,085,063. It also increased its holding in Ctrip Com Intl Ltd (NASDAQ:CTRP) by 208,000 shares in the quarter, for a total of 7.46 million shares, and has risen its stake in Emerson Elec Co (NYSE:EMR). The Massachusetts-based Eaton Vance Mgmt has invested 2.24% in JPMorgan Chase & Co.

Copeland Capital Management Llc, which manages about $1.04B and $1.58 billion US Long portfolio, decreased its stake in Visa (NYSE:V) by 11,900 shares to 73,109 shares, valued at $8.34 million in 2017Q4, according to the filing.

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JPMorgan Chase & Co. has a 52 week low of $81.64 and a 52 week high of $119.33. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.01 and a current ratio of 1.01. Alliancebernstein L.P. grew its stake in JPMorgan Chase by 29.2% in the second quarter.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 30th. Insiders sold 6,812,678 shares of company stock valued at $1,193,584,853 in the last three months. JPMorgan Chase & Co.'s dividend payout ratio is now 35.56%. Beach Investment Management LLC. now owns 559,171 shares of the financial services provider's stock worth $51,108,000 after purchasing an additional 513,241 shares in the last quarter.

JPMorgan Chase & Co. shares rose $1.89 (+1.67%) in premarket trading Friday. Moreover, Stoneridge Ptnrs Limited Co has 2.18% invested in JPMorgan Chase & Co.

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The bank's chief executive Jamie Dimon said JPMorgan has been outpacing the industry on consumer deposit growth while attracting significant net new money and growing client investment assets by 13%.

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