The bank closed the final quarter of 2020 on a high note
One of the largest American banks, JP Morgan Chase, surprised analysts’ when it posted its Q4 2020 earnings.
In the past quarter, JP Morgan had an EPS of $3.79 on revenues of $30.16 billion. It beat the consensus for both, as the market was looking for a $2.62 per share estimate and $28.7 billion, respectively.
As for the future, the bank will continue its stock repurchasing program, forecasting for Q1 2021 $4.5 billion worth of stocks to be bought back.
Even though it showed resilience during the pandemic and delivered higher-than-expected results, JP Morgan stock price fell 1.6%. In 2020, its share price lost 8.7%.
Sources: cnbc.com
