Pat, could I get your opinion on a recovery in the U.S. banking sector and investing in the BMO Equal Weight U.S. Banks Hedged to CAD Index ETF? Thanks.
The outlook for U.S. banks is mixed. For some, such as J.P. Morgan Chase & Co.—a buy recommendation of our Wall Street Stock Forecaster newsletter—the outlook is positive.
J.P. Morgan, $50.48, symbol JPM on New York (Shares outstanding: 3.8 billion; Market cap: $193.2 billion; www.jpmorgan.com), earned a record $21.3 billion in 2012. That’s up 12.2% from $19.0 billion in 2011. Earnings per share rose 16.1%, to $5.20 from $4.48, on fewer shares outstanding. That beat the consensus estimate of $5.00 a share.
More borrowers are repaying their loans on time. As a result, Morgan set aside $3.4 billion to cover bad loans in the latest quarter, down 55.3% from $7.6 billion a year earlier. This was the main reason for the higher earnings.
Low interest rates continue to spur demand for mortgages and credit cards. However, low rates are also hurting the interest income Morgan earns on these loans and other securities. As a result, its overall revenue fell 0.2% in 2012,…
Privacy Policy and Terms of Use
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What personal information do we collect?
The information we receive from customers helps us personalize and continually improve your online experience at TSI Network. TSI Network may collect personal information online for all legal purposes, which include, but are not limited to:
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Does TSI Network Use the Information It Receives?
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Changes to this Policy
This Policy is the sole authorized statement of TSI Network's practices with respect to the collection of personal information through TSI Network's websites and the subsequent use and disclosure of such information. Any summaries of this Policy generated by third party software or otherwise (for example, in connection with the "Platform for Privacy Preferences" or "P3P") shall have no legal effect, are in no way binding upon TSI Network, shall not be relied upon in substitute for this Policy, and neither supersede nor modify this Policy.
TSI Network may revise this Policy from time to time.
Legal Notices and Disclaimers
The contents of this web site and our publications are based upon sources of information believed to be reliable, but no warranty or representation, expressed or implied, is given as to their accuracy or completeness. Any opinion reflects the Successful Investor’s judgment at the date of publication and neither the Successful Investor, nor any of its affiliated companies, nor any of their officers, directors or employees, accepts any responsibility in respect of the information or recommendations contained in the publications or on this web site. Moreover, the information or recommendations are subject to change without notice.
Information presented on this web site or contained in our publications is not an offer, nor a solicitation, to buy or sell any securities referred to on the web site or in the publications. The material is general information intended for recipients who understand the risks associated with an investment in any securities referred to in the publications or on this web site. The Successful Investor has made no determination regarding whether an investment, course of action, or associated risks are suitable for the recipient.
