JPMorgan Chase & Co. (JPM)’s Shares Are Flat Since Cramer Commented On Them

We recently published Jim Cramer’s Biggest Losers: 10 Stocks That Just Didn’t Work Out. JPMorgan Chase & Co. (NYSE:JPM) is one of the stocks discussed by Jim Cramer.

Banking giant JPMorgan Chase & Co. (NYSE:JPM)’s shares are flat since Cramer commented on them in January. Over the past year, the stock is up by 14.6%, while year-to-date it is up by 2.8%. The shares fluctuated in late May after CEO Jamie Dimon remarked at a fireside chat that he was not comforted by what he saw as exuberance in the market. Soon after Cramer’s remarks, on the 13th, JPMorgan Chase & Co. (NYSE:JPM)’s shares closed 4% lower. The dip came after the firm’s fourth quarter earnings report, which saw it beat analyst revenue and earnings estimates. However, media reports suggested that the stock had also reacted to fears about the Trump administration taking action in the credit markets. The bank also unveiled a $50 billion share buyback program in June. In January, Cramer discussed JPMorgan Chase & Co. (NYSE:JPM)’s valuation multiple. As with his opinion of others, such as Morgan Stanley and Goldman Sachs, he remarked that the multiple was too low:

“Look, I think this kind of trading is really ill- advised. Long-term, I believe it’s going to give you suboptimal returns. It’s very rare these days that everything is unexploited at the opening. You were simply too late as the trade was over by the opening bell. What should we be talking about instead of Venezuela?… How about the bank stocks? Coming into this year, I tried to determine what stocks are still cheap so you’d have something to pull back on if these stocks were to go down. I looked at the Charitable Trust names such as, and I also looked at JPMorgan and Citigroup, and based on their valuations, these stocks are still outrageously cheap versus the rest of the market. If they go down, you know what you can do? You can buy more of them.”

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