JPMorgan Chase & Co (NYSE:JPM) shares are trading higher Monday after the company issued guidance in a presentation for its Investor Day 2022.
JPMorgan said it expects net interest income to build throughout the year, leading to a fourth-quarter run rate of $66 billion plus. The bank also said that a 17% return on tangible common equity (ROTCE) "remains our target and may be achieved in 2022."
In the company's most recent earnings report, JPMorgan said it anticipated missing its targets, however Monday's comments indicate things have turned around for the firm.
JPMorgan left its expense outlook unchanged at about $77 billion. "Expect charge-offs to return to pre-pandemic levels over time," the company said.
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JPM 52-Week Range: $115.02 - $172.96
The stock was up 7.54% at $126.22 at press time, according to data from Benzinga Pro.
Photo: eflon from Flickr.
