Tags: Analyst | JPMorgan | Share | Repurchase

Analyst: JPMorgan May Halt Share Repurchase Program

Wednesday, 25 Sep 2013 06:28 PM

JPMorgan Chase & Co.’s $6 billion share repurchase program could be suspended as fines and penalties imposed on the bank increase in the second half of 2013, Charles Peabody, an analyst at Portales Partners LLC, wrote in a research note Wednesday.

Peabody cut his 2013 earnings estimate 12.5 percent to $4.90, according to the note, which cited the fines and “material control and procedure violations that the bank must remediate.”

The company agreed last week to pay about $1.3 billion to resolve investigations into its record trading loss in 2012 and to settle claims that it unfairly charged customers for credit- monitoring products. Brian Marchiony, a spokesman for the New York-based bank, declined to comment.

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JPMorgan Chase's $6 billion share repurchase program could be suspended as fines and penalties imposed on the bank increase in the second half of 2013, an analyst at Portales Partners wrote in a research note.
Analyst,JPMorgan,Share,Repurchase
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2013-28-25
Wednesday, 25 Sep 2013 06:28 PM
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