"What we've heard from the banks so far hasn't been very rosy," Tepper said on CNBC's ""Generally, you don't want to own banks in a recession, so if you're going to own one, you might as well own the best of breed, which is JPMorgan.", who was at the helm during the Great Recession.
"The number you want to keep in mind is book value. So, the book value is $76 per share — right now it's trading at 1.2 times book. When that price drops below $76, that's when you back up the truck and you buy it. And you're going to be really happy with the long-term returns if you do that, but the key word there is 'long term,'" said Tepper.
Maley says if the KBE ETF drops below $25, its March lows, that could be "incredibly negative" for the bank stocks. It ended Wednesday's session at $26.95."It's the best-managed company, it's the best-capitalized company out there. If this stock could bounce back and give it another higher high, just above about the $103 level, if it gets above that on a closing basis, it's going to give it a lot of momentum and really help the stock," Maley said.
Resumimos esta notícia para que você possa lê-la rapidamente. Se você se interessou pela notícia, pode ler o texto completo aqui. Consulte Mais informação:
$BAC 1W Price MAVG spread imply a price fall is highly likely in BAC:NYSE - Bank America from here (TOGGLEbot cnbc
Portugal Últimas Notícias, Portugal Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Here's what happened to the stock market on WednesdayStocks were under pressure as dismal economic data and weak bank earnings dented market sentiment.
Fonte: CNBC - 🏆 12. / 72 Consulte Mais informação »
JPMorgan reports big decline in first-quarter earnings from coronavirus, but posts record markets revenueJPMorgan Chase posted Q1 earnings that missed Wall Street’s expectations, reporting $0.78 EPS vs. the $1.84 estimate. $JPM Sure they will get a mulligan First of many like this. Nobody cares...buy the stock coz the fed will always help if things dont work out👌👍
Fonte: CNBC - 🏆 12. / 72 Consulte Mais informação »
Stock market live updates: Dow futures up, bracing for jobless claimsStocks are coming off a major sell-off on Tuesday from dismal earnings and economic data. Keeping realDonaldTrump and the GOP in office America will lose 85% of America. Dont wait 🤔do it now 👉🏽2/3 remove 25AmendmentNow Headline bracing for jobless claims. Really, why this nonsense headline. Does this number matter at this time. The disconnect between Wall St. and Main St. is even more astounding during a pandemic
Fonte: CNBC - 🏆 12. / 72 Consulte Mais informação »
Wall Street falls on dour economic data, corporate earningsU.S. stocks fell on Wednesday as dismal economic data and first-quarter earnings reports compounded concerns over the extent of damage from the coronavirus outbreak. US stocks close lower as coronavirus toll slams earnings , economic data. But it was the best economy ever! If it was that great, it wouldn't have collapsed so quickly. Duhhh, and the Wall Street wizards couldn’t have predicted this a long time ago!
Fonte: Reuters - 🏆 2. / 97 Consulte Mais informação »