JPMorgan Chase tellers, branch workers getting raises


The largest US bank by assets earned $5.67 billion after payments to preferred shareholders, down slightly from a profit of $5.78 billion in the same period a year earlier.

JPMorgan reported quarterly earnings of $1.55 per share on Thursday, versus a consensus estimate of $1.43.

According to Berenberg Banks price target of 52 on the company's stock this indicates the broker now believes there is a decrease of -17.72% from JPMorgan Chase & Co's current price of 63.2.

Chairman and CEO Jamie Dimon said JPMorgan kept performing well in all of its major businesses with mortgage and commercial real estate loan growth coming in especially strong. Pay for big bank chief executives jumped almost 7.6% in 2015, 10 times faster than a year earlier, according to analysis by the compensation company Equilar and the Financial Times.

JPMorgan Chase looks like a source of calm in this incredibly tumultuous banking environment. Non-interest expenses decreased 5.9 percent to $13.64 billion from $14.5 billion a year earlier, thanks to cost cutting and lower legal bills.

On Tuesday, Dimon said the bank will invest more than $200 million this year to train thousands of its entry-level employees and help them move up the ranks rather than out the door.

"Analysts will want to know about the bank's plans for dealing with fallout from the U.K.'s Brexit vote, which could include a slowdown in M&A and stock-underwriting in Europe", reports the Wall Street Journal.

Receive JPMorgan Chase & Co News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for JPMorgan Chase & Co with's FREE daily email newsletter. Investment banking revenue fell to $1.5 billion, down 15 percent from a year ago, as the bank took fewer companies public in the quarter. So far in the third quarter, trading volumes have been "fine", but a normal seasonal decline is expected, Lake said. That means lending margins for big banks will remain under pressure.

"When there's global uncertainty, there's an additional rush into USA long-term Treasury securities, and that drives down interest rates", he said.

The Fed last raised rates in December, by 0.25 percentage points, after keeping them near zero for nearly a decade. (NYSE:JPM) observed at 4.45%, and for the next five years the analysts that follow this company are expecting its growth at 4.78%.

Dimon said raises at the bank would vary depending on geographic and market factors. It also called into question how much money and time U.S. banks will have to spend to move from London their operations serving European customers.