JPMorgan Chase agrees to pay $15.7M to settle spoofing suit

  • JPMorgan Chase (NYSE:JPM) agrees to pay $15.7M in cash to settle a class action lawsuit by investors who allege that the bank engaged in spoofing, or intentionally manipulating prices of U.S. Treasury futures and options, Reuters reports.
  • Spoofing occurs when traders place orders with the intention to cancel them in hopes of moving prices to favor their market positions.
  • The settlement, in which JPMorgan (JPM) doesn't admit to wrongdoing, was disclosed late Wednesday evening, Reuters said; it covers traders in Treasury futures and options from April 2008 to January 2016 and requires approval by a federal judge in Manhattan.
  • The settlement would recover less than a third of the estimated class-wide damages, a court filing shows; lawyers representing the traders plan to seek up to a third of the payout, or about $5.2M, to cover legal fees.
  • The commercial bank also agrees to self-report future violations.

    Over the current book year the company from New York City could achieve a revenue around 122.97 billion USD (consensus estimates). This is slightly more than 2021's revenue of 119.54 billion USD.

    Historical revenues and results JP Morgan Chase plus estimates 2021

    fundamantele data

    The analysts expect for 2021 a net profit of 43.01 billion USD. According to most of the analysts the company will have a profit per share for this book year of 14.06 USD. The PE-ratio therefore is 11.89.

    For this year the analysts expect a dividend of 3.79 USD per share. The dividend yield is then 2.27 percent. The average dividend yield of the banks equals an attractive3.02 percent.

    Recent target prices around 178 USD

    The latest 3 recommendations for the bank were provided by Goldman Sachs , KBC Securities and Barclays .

    JP Morgan Chase 's market capitalization is based on the number of outstanding shares around 515.43 billion USD. 76

    On Friday the stock closed at 167.13 USD.

    Price data JP Morgan Chase 2007-2021

    stock graphs jpmorganchase

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