Equity Analysis /
United States of America

US : Finance Companies - Banking | JPM 4Q20 Quick Takes; Shares Looking Lower Pre-Market Despite Solid EPS Beat

    Contributors
    William J. Wallace IV
    David J. Long
    Michael Rose
    CGS-CIMB
    15 January 2021
    Published byCGS-CIMB

    JPM EPS beat:JPMorgan (JPM/$141.17/not covered) reported 4Q20 EPS of $3.79, well above consensus of $2.62 (range: $2.00-2.91). The beat was primarily driven on the provision line, where JPM posted -$1.9 billion vs. consensus of +$1.28 billion. Combined with ~$1.1 billion of NCOs resulted in ~$2.9 b