LONDON, April 28, 2015 /PRNewswire/ --
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Investor-Edge.com has issued free post-earnings report on JPMorgan Chase & Co. (NYSE: JPM). On April 14, 2015, the company reported its financial results for Q1 FY15 (period ended March 31, 2015). Click on http://get.Investor-Edge.com/pdf/?c=JPMorgan%20Chase&d=28-Apr-2015&s=JPM to read our free earnings review on JPMorgan Chase and Co. (JPMorgan). During Q1 FY15, the company's net revenue grew 4% Y-o-Y, while net income and earnings per share grew 12% Y-o-Y and 13% Y-o-Y, respectively. Our free coverage report can be accessed at:
During Q1 FY15, JPMorgan's net revenue improved to $24.82 billion from $23.85 billion in Q1 FY14, primarily driven by strong performance in the Corporate and Investment Bank, both in Markets and Investment Banking. The company's net revenue for Q1 FY15 came in above Bloomberg analysts' forecast of $24.51 billion. Free research on JPM can be downloaded in PDF format at:
In Q1 FY15, JPMorgan's Consumer and Community Banking's net revenue improved 2% Y-o-Y to $10.70 billion, driven by higher noninterest revenue across businesses, up $302 million. The company's Corporate and Investment Bank's net revenue increased 8% Y-o-Y to $9.58 billion in Q1 FY15. In the reported quarter, Commercial Banking's net revenue grew 4% Y-o-Y to $1.74 billion, driven by higher noninterest revenue on record gross investment banking revenue. Moreover, Asset Management segments' net revenue also improved 7% Y-o-Y to $3.01 billion in Q1 FY15, driven by higher noninterest revenue on net client inflows and higher market levels, and higher net interest income on higher deposit and loan balances.
For Q1 FY15, JPMorgan's net income was $5.91 billion, or $1.45 per diluted share, as compared to net income of $5.27 billion, or $1.28 per diluted share, in Q1 FY14. Analysts from Bloomberg had expected net income of $5.42 billion, or $1.40 per diluted share, in Q1 FY15. Further, JPMorgan's core loans for Q1 FY15 increased 10% Y-o-Y.
As of March 31, 2015, JPMorgan's return on tangible common equity stood at 14%, while its adjusted expense for Q1 FY15 was $14.2 billion and adjusted overhead ratio was 57%. Sign up and read the free analyst's notes on JPM at:
JPMorgan's Basel III Tier 1 common equity ratio was 10.6%, as of March 31, 2015. The company had strong liquidity, compliant with the final U.S. Liquidity Coverage Ratio (LCR) and High Quality Liquid Assets (HQLA) of $614 billion at the end of the quarter. Further, as of March 31, 2015, JPMorgan's Supplementary Leverage Ratio (SLR) was 5.7% and its Bank SLR was 6.0%.
Chairman and CEO of JPMorgan, Jamie Dimon, stated that the company continues to support consumers, businesses and communities and make a significant positive impact. JPMorgan has an outstanding franchise which is getting safer and stronger, and is gaining market share over time, he asserted. Mr. Dimon said that the company continues to build itself for the long-term and it is investing in controls, infrastructure, systems, technology, new products and bankers. JPMorgan will continue to navigate challenges and deliver for its clients, shareholders and communities, he added.
JPMorgan returned approximately $3.1 billion of capital to shareholders in Q1 FY15. Further, the company's Board of Directors intends to increase the quarterly common stock dividend in Q2 FY15 from the current $0.40 per share to $0.44 per share. Visit Investor-Edge and access the latest research on JPM at:
On the day of the earnings release, April 14, 2015, JPMorgan's stock gained 1.56% to end the session at $63.04. Since then, the stock has moved both ways. On the last close, Monday, April 27, 2015, the company's stock finished at $62.34, down 0.42%. The stock vacillated between $62.31 and $63.15 during the trading session. A total of 11.13 million shares were traded which was below their three months average volume of 16.16 million shares. The stock has fallen by 0.38% on YTD basis. However, over the last one month and the past three months, the company's shares have gained 4.69% and 10.93%, respectively. Further, Shares in JPMorgan are trading above their 50-day and 200-day moving averages of $61.21 and $59.60, respectively. Additionally, the stock traded at a PE ratio of 10.12 and has a Relative Strength Index (RSI) of 55.28.
Sneak Peek to Corporate Insider Trading
In the last one month, there were 10 insider transactions made by 10 individuals. Between March 31, 2015 and April 15, 2015, a total of 4,827 shares have been purchased at an average price of $60.60 per share and for a total value of $292,500. During the same period, a total of 22,875 shares, worth $1.47 million, were sold at an average price of $64.08 per share. The following are some of the key transactions during the aforementioned period: Director at JPMorgan, Laban P. Jackson, Jr., bought 949 shares at an average price of $60.58 per share; General Counsel at JPMorgan, Stephen M. Cutler, disposed 18,617 shares at an average price of $64.09; and Chief Operating Officer at JPMorgan, Matthew E. Zames, sold 4,258 shares at an average price of $64.08. Complimentary in-depth research on JPM is available at:
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