S&P 500
7,226.20
+0.01%
Dow Jones
49,494.60
-0.62%
Nasdaq 100
27,685.40
+0.66%
Russell 2000
2,804.78
-0.02%
FTSE 100
10,364.50
0.00%
Nikkei 225
59,260.50
-0.78%

Banking, finance, and taxes

J.P. Morgan Beats on Earnings, CEO Dimon Pay Cut in Half

Photo of Jon C. Ogg
By Jon C. Ogg Published
Follow 24/7 Wall St. on Google
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

JPMorgan_logo
Wikimedia Commons
J.P. Morgan Chase & Co. (NYSE: JPM) is seeing shares play a little give-back this morning after the largest bank by deposits has reported it fourth-quarter earnings as $5.3 billion. That came to $1.39 per share, and revenue rose 10% to $24.4 billion. Thomson Reuters was calling for $1.16 per share. The sales figure was before the impact of an accounting charge.

The bank’s board of directors completed its review of the $6 billion 2012 London Whale trading loss. Its board decided to halve CEO Jamie Dimon’s pay as a result of the losses. Dimon will get by just fine, as this cut was a reduction to $11.5 million from $23.1 million the prior year. Other charges were tied to the mortgage unit and debit valuation adjustments, with extraordinary gains tied to reduced mortgage loan loss reserves and another boost in the corporate unit.

J.P. Morgan shares closed at $46.35 yesterday and are down more than 1% so far this morning at $45.80. The bank listed its book value as $51.27 per share and its tangible book value as $38.75 per share.

Photo of Jon C. Ogg
About the Author Jon C. Ogg →

Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. a673b.bigscoots-temp.com.

Featured Reads

Our top personal finance-related articles today. Your wallet will thank you later.

52% of Americans Are Building Wealth While Ignoring Their Greatest Risk
David Beren |

52% of Americans Are Building Wealth While Ignoring Their Greatest Risk
3 Reasons Retirees Should Not Enroll in Medicare Advantage for 2026
Don Lair |

3 Reasons Retirees Should Not Enroll in Medicare Advantage for 2026

Continue Reading

Jon C. Ogg |

J.P. Morgan Sets Tone For Profit Taking In Banks (JPM, BAC, C, WFC)

J.P. Morgan Chase & Co. (NYSE: JPM) is a bit of a disappointment on the surface as revenues came in…
Jon C. Ogg |

Bank of America Lives Up to Earnings & Book Value Comparisons (BAC, JPM, C)

Bank of America Corporation (NYSE: BAC) met earnings estimates this morning with its loss of -$0.90 EPS due to its…
Jon C. Ogg |

How QE3 Will Help the Seven Safest Banks in America

Banks are back in favor. The most recently announced round of quantitative easing via mortgage-backed securities purchases from the Federal Reserve…
Jon C. Ogg |

Wells Fargo Becomes Safest Bank In America, Book Values De Damned (JPM, WFC, BAC, C)

Wells Fargo & Company (NYSE: WFC) has replaced J.P. Morgan Chase & Co. (NYSE: JPM) as the safest bank in…
Paul Ausick |

Sharp Drop in Legal Expenses Lifts J.P. Morgan Earnings

J.P. Morgan reported third-quarter results before markets opened Tuesday morning, saying revenues were down both sequentially and year-to-date.
Jon C. Ogg |

The Bullish and Bearish Case for J.P. Morgan and Big Banks in 2015

One key consideration for the year ahead is that J.P. Morgan is now past its trading losses and charge-off scandals.…
Paul Ausick |

J.P. Morgan Earnings Came With a Few Caveats

J.P. Morgan's earnings came with a few caveats, including CEO Jamie Dimon's health, legal expenses and Apple Pay.
Paul Ausick |

Record Earnings at J.P. Morgan Fail to Excite Investors

J.P. Morgan Chase & Co. (NYSE: JPM) reported fiscal third-quarter results before markets opened this morning. The banking and finance…
Jon C. Ogg |

The Bullish and Bearish Case for J.P. Morgan in 2014

Amazingly, J.P. Morgan Chase, the bank with the so-called fortress balance sheet, still managed to outperform the broader market in…

Top Gaining Stocks

Cboe Global Markets
CBOE • Vol: 1,568,143
New Pluto Global
PSKY • Vol: 12,285,993
Seagate Technology
STX • Vol: 7,378,346
Oracle
ORCL • Vol: 26,317,675
Datadog
DDOG • Vol: 6,247,779

Top Losing Stocks

LKQ
LKQ • Vol: 4,367,433
Clorox
CLX • Vol: 13,260,523
Stryker
SYK • Vol: 4,519,455
Mohawk Industries
MHK • Vol: 1,859,865
Amgen
AMGN • Vol: 3,818,618