Along with Wells Fargo, JPMorgan Chase reports on Friday before the market opens. Analysts expect JPMorgan to report $1.22 in earnings for Q3, versus $1.02 last year. That's a heady 20% gain.
Although the headlines have been rough for JPMorgan, with the London Whale situation and a recent lawsuit involving operations at Bear Stearns during the financial crisis, Motley Fool senior analyst Anand Chokkavelu thinks JPMorgan will meet or exceed expectations.
It's the No. 2 mortgage lender behind Wells Fargo. That should bode well. But visibility into the Wall Street side is harder to guess at. What we do know is that JPMorgan hasn’t had a negative surprise since 2007, so it's a good bet that it'll at least meet these lofty expectations. We'll see on Friday.
With so many of the big finance firms getting bad press these days, you may be inclined to stay away from the sector entirely, but that could be a huge mistake. In fact, some of the best opportunities over the next few years can be found there, including one small, under-the-radar bank. It's been called one of The Stocks Only the Smartest Investors Are Buying. You can learn about it, and more, in our exclusive free report. Just click here to keep reading.
Anand Chokkaveluowns shares of Bank of America, Citigroup, Wells Fargo, and JPMorgan Chase. He also owns long-dated options on Bank of America and warrants on Citigroup, Wells Fargo, and JPMorgan Chase. The Motley Fool owns shares of JPMorgan Chase, Bank of America, Wells Fargo, and Citigroup and has created a covered strangle position in Wells Fargo.Motley Fool newsletter serviceshave recommended buying shares of Goldman Sachs. Try any of our Foolish newsletter servicesfree for 30 days. We Fools don't all hold the same opinions, but we all believe thatconsidering a diverse range of insightsmakes us better investors. The Motley Fool has adisclosure policy.