Richard Bove, vice president of equity research financial sector at Rochdale Securities and one of the best known banking analyst, told CNBC JPMorgan Chase (JPM, Financial) is one of the best banks in the U.S., with some of the best managers in the industry, and one trading error will not change that.
He also said, “There are only five companies in the United States that made more money than JPMorgan last year, so to assume that this staggeringly successful, profitable company might now be in trouble is a farce,” “The company will increase its dividend 20 percent this year, its earnings will be higher this year, and up 15 to 20 percent next year, so I think we’ve done the overselling by more than a little bit,”
Here is the video:
He also said, “There are only five companies in the United States that made more money than JPMorgan last year, so to assume that this staggeringly successful, profitable company might now be in trouble is a farce,” “The company will increase its dividend 20 percent this year, its earnings will be higher this year, and up 15 to 20 percent next year, so I think we’ve done the overselling by more than a little bit,”
Here is the video:
