Domestic Operations at JPMorgan and Wells Fargo Showing Steady Improvement
Posted on November 11, 2011 at 08:16 AM EST
The Paragon Report Provides Equity Research on JPMorgan Chase and Wells Fargo & Co
NEW YORK, NY -- (Marketwire) -- 11/11/11 -- Despite global economic uncertainty, some money center banks have been turning in surprisingly positive numbers. Banks that have been able to widen margins and grow revenues in the face of so many macroeconomic headwinds could be well positioned for long-term gains especially when the European debt crisis is resolved. The Paragon Report examines investing opportunities in the Money Center Banking Industry and provides equity research on JPMorgan Chase & Co. (NYSE: JPM) and Wells Fargo & Co. (NYSE: WFC). Access to the full company reports can be found at:
Despite domestic improvements, major US Banking stocks continue to face downward pressure due to uncertainties in Europe. According to The Wall Street Journal, the latest scare, which sent the yields on Italian bonds above 7%, worried investors in US banks for two reasons: that a faltering by Italy would severely jolt the global economy, and that banks are exposed directly to any default. One clearinghouse had demanded more collateral for trading Italian bonds, signaling the market's fear.
The Paragon Report provides investors with an excellent first step in their due diligence by providing daily trading ideas, and consolidating the public information available on them. For more investment research on the Money Center Banking industry register with us free at www.paragonreport.com and get exclusive access to our numerous stock reports and industry newsletters.
In its most recent 10-Q, JP Morgan lists net exposure to Italy of $5.5 billion, of which $2.4 billion is sovereign and $3.1 billion is non-sovereign.
Domestically, Money Center Banks are in far better shape. For well over a year banks have posted improved credit quality and in the second half of 2011 have begun to report adequate loan growth. Analysts said business borrowers are increasingly relying on banks for financing that they used to get from the bond markets and elsewhere.
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