JPMorgan has many operating divisions, including investment and corporate banking, asset management, retail financial services, commercial banking, credit cards and financial transaction services.
Top analysts are very positive on the stock, largely because the industry titan faces a continued broad recovery in nearly every aspect of its business:
- Leading M&A advisory and capital markets product set and market share
- Massive footprint of corporate and commercial banking customers
- Sizable wholesale payments businesses.
The company has proven that it has the wherewithal to continually invest in people, products and platforms to further its market share base, extending its competitive advantage versus most peers.
The bank posted exceptionally strong earnings across almost all metrics in the first quarter of 2023, though it has taken reserves of $1.1 billion for the uncertain macro environment. Revenue beat expectations by a stunning $2.3 billion.
The dividend yield here is 2.88%. The Barclays price objective is $179, while the consensus target is $158.37. JPMorgan Chase stock closed over 7% higher on Friday at $138.73 after the stellar earnings print.
PNC Financial Services
This bank has a huge client base and has expanded in a big way over the past decade, and it is among the top 10 largest U.S. banks by assets. PNC Financial Services Group Inc. (NYSE: PNC) operates as a diversified financial services company in the United States through the following three segments,
The Retail Banking segment offers checking, savings and money market accounts, as well as certificates of deposit. It offers residential mortgages, home equity loans and lines of credit, auto loans, credit cards, education loans, and personal and small business loans and lines of credit, as well as brokerage, insurance and investment and cash management services. This segment serves consumer and small business customers through a network of branches, ATMs, call centers and online and mobile banking channels.
The Corporate & Institutional Banking segment provides secured and unsecured loans, letters of credit and equipment leases, as well as cash and investment management services, receivables and disbursement management services, funds transfer services, international payment services and access to online/mobile information management and reporting. it offers securities underwriting, loan syndications, customer-related trading and mergers and acquisitions and equity capital markets advisory related services, and also commercial loan servicing and technology solutions. It serves midsized and large corporations and government and not-for-profit entities.
Its Asset Management Group segment offers investment and retirement planning, customized investment management, credit and cash management solutions and trust management and administration services for high net worth and ultra-high net worth individuals, and their families, as well as multi-generational family planning services for ultra-high net worth individuals and their families. It also provides outsourced chief investment officer, custody, private real estate, cash and fixed income client solutions, and fiduciary retirement advisory services for institutional clients.
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