The prominent banking and financial institution J.P. Morgan is expected to announce its third-quarter performance report tomorrow and here are some expectations and some things to look forward to tomorrow’s big reveal. Other notable financial institutions such as Citigroup, Bank of America, and Wells Fargo are all expected to report their own quarterly performance these coming days.
These leading and renowned financial institutions are all expected to unveil and report their performance for the past months before this
What to Expect?
The past few months have been a rollercoaster ride for the bank and it also carried mix potential and possibilities. One of the most pressing and most recent happenings that shook JP Morgan was the newly found fire for the next interest rate hike; the announcement of the Federal Reserve of a tentative December interest rate hike massively affected the bank in more ways than one.
Another one that had a direct impact on the bank is the economic data that were published in the past; the improved economic outlook has been a great stream that provided several pushes for JP Morgan. The past two Hurricanes also caused a massive turbulence for the financial institution, resulting to a massive stock beating.
JP Morgan So Far
JP Morgan showed slow, but steady growth and overall paced this quarter giving the market a plenty of room to speculate their run. As per the previous quarter earnings, the bank managed to yield positive results due to great economic data and renewed economic outlook.
One more thing to keep a close look at is the new corporate tax reform that is pursued by the current U.S. administration, spearheaded by President Donald Trump. According to reports and news, the corporate tax is expected to trim company taxes by 20% to 30% which would significantly boost most companies’ earnings per share.
Analysts are expecting that JP Morgan is expected to advance by a decent 6% to $1.67 per share. On the other hand, the expected revenue is estimated to jump by 3% to $25.39 billion. Although a handful of analysts are pointing that the bank’s net revenue dipped for the same time last year, and the chances of it happening are marginally large.
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