JPMorgan Reports Q1 EPS Miss
<p><a href='https://financialmodelingprep.com/financial-summary/JPM'>JPMorgan Chase & Co. (NYSE:JPM) </a>reported its Q1 results, with EPS of $2.63 coming in below the Street estimate of $2.72. Adjusted revenue declined 4.6% year-over-year to $31.59 billion, compared to the Street estimate of $31.44 billion.</p>
<p>The EPS miss was due to a higher-than-expected loan loss provision and elevated expenses, partially offset by higher net interest income. More importantly, the company’s CET1 ratio fell to 11.9% from 13.1% in Q4 due to unexpected high levels of negative AOCI, other counterparty credit risk and market risk; and though JPM announced a $30 billion stock buyback authorization, its buyback activity will likely be limited in 2022. </p>
<p>Though most of its core businesses reported decent results, analysts at RBC Capital expect the capital ratio concerns to weigh on its stock price. Their price target was lowered to $155 from $175, while Outperform rating was maintained.</p>

NYSE:JPM