J.P. Morgan Considered Leaving the Euro Periphery
J.P. Morgan (NYSE:JPM) CEO Jamie Dimon acknowledged at the World Economic Forum in Davos that the bank seriously considered pulling its exposure of $15 billion out of the countries in the Eurozone.
Mr. Dimon stated that staying in these nations posed some risk, but he added, “I hope we will still be doing business there in 50 to 75 years.” This timeframe did not include any prognosis for what would happen in those countries for the next twenty years. Dimon added that long-term thinking, coupled with social considerations, prompted the bank to stay in these countries.
Here’s how J.P. Morgan shares recently traded:
JPMorgan Chase & Co. (NYSE:JPM): JPM shares recently traded at $37.49,. They have traded in a 52-week range of $27.85 to $48.36. Volume today was 19,900 shares versus a 3-month average volume of 39,640,900 shares. The company’s trailing P/E is 8.37, while trailing earnings are $4.48 per share.