JPMorgan Chase & Co JPM:NYSE

Last Price$157.89NYSE Previous Close - Last Trade as of 7:00PM ET 12/01/21

Today's Change-0.94(0.59%)
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Day Low / High$157.80 - 163.27
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Citigroup, Bank of America Card Metrics Further Indicate Easing Volume Growth, But Paypal 'Relatively Immune,' Says Wedbush

3:43PM ET 10/14/2021 MT Newswires
The recent card metrics of Citigroup (C) and Bank of America (BAC) are further indications of moderating volume growth rates, in line with that of JPMorgan Chase's (JPM), Wedbush Securities said in a note to clients.

According to Wedbush, Citi North America and International volumes saw decelerated purchase sales growth year over year and quarter over quarter, while Bank of America's North America debit and credit volume posted a deceleration year over year and quarter over quarter.

JPMorgan's credit volumes growth and merchant processing volumes growth also decelerated year over year and quarter over quarter.

"Collectively, these trends mirror recent reported consumer spending data, which will likely be reflected in September's quarterly data from both Outperform rated [Visa (V)] and [Mastercard (MA)] (with respective largest issuers, JPM and C, respectively) as well as from the "deal stocks": Outperform rated [Fidelity National Information Services (FIS), Global Payments (GPN) and Fiserv (FISV)]," the firm's analysts said.

They do, however, believe that the outperform-rated Paypal (PYPL) is "relatively immune" from the trends because of the company's "aggressive monetization initiatives."

Price: 70.69, Change: +0.42, Percent Change: +0.60