JPMorgan Is Firing on All Cylinders, but Little Upside Is Left in the Stock
Narrow-moat JPMorgan reported solid results for the final quarter of 2016, benefiting from exceptionally good credit quality—as nonaccrual loans totaled just 0.77% of total balances and provisioning for losses declined 25% from the fourth quarter of 2015. Noninterest expenses fell by 3% during the year, though we note that lower legal costs and professional service spending were offset by growth in compensation and technology expenses. Thus, the pace of improvement seen in 2016 may not continue....JPMorgan Chase is a financial holding company. Through its subsidiaries, the company's segments include: Consumer and Community Banking, which provides services through bank branches, ATMs, digital (including mobile and online) and telephone banking; Corporate and Investment Bank, which consists of Banking and Markets and Securities Services, provides a suite of investment banking, market-making, prime brokerage, and treasury and securities products and services; Commercial Banking, which provides financial solutions, including lending, treasury services, investment banking and asset management products; and Asset and Wealth Management, which is engaged in investment and wealth management.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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