11 Stocks on Jim Cramer’s Radar Right Now

2. JPMorgan Chase & Co. (NYSE:JPM)

Number of Hedge Fund Holders: 111

JPMorgan Chase & Co. (NYSE:JPM) is a New York-based global financial services company that runs through various segments. The Consumer & Community Banking (CCB) segment provides deposits, loans, and payment services to consumers and small businesses.

The company’s Corporate & Investment Bank (CIB) offers investment banking services, including advisory and capital-raising solutions, along with securities services. Meanwhile, the Commercial Banking (CB) segment serves small and midsized businesses, local governments, and corporations with lending and investment banking.

Finally, the Asset & Wealth Management (AWM) segment delivers investment management and financial services to institutional clients and high-net-worth individuals. As of June 30, 2024, JPMorgan Chase reported assets totaling $4.1 trillion, with stockholders’ equity amounting to $341 billion.

Cramer mentioned the company and said:

“We do have an onslaught of financial earnings in the morning. We’ve got Wells Fargo, JPMorgan, and BlackRock. I think the banks represent the least expensive group in the market which means you need to use any weakness to buy them.”

In the second quarter, JPMorgan Chase (NYSE:JPM) achieved a net income of $18.1 billion, or EPS of $6.12 on revenue of $51 billion. The revenue represented an increase of $8.6 billion or 20% compared to the previous year.

The company also announced an increase in the quarterly common stock dividend from $1.15 to $1.25 per share for the third quarter. It is payable by October 31 to the shareholders of record on October 4. The stock has a dividend yield of 2.37%, as of October 4.