JPMorgan and Bank of America Support Children's Retirement Accounts
Written by Emily J. Thompson, Senior Investment Analyst
Source: CNBC
- Children's Retirement Account Match: JPMorgan and Bank of America announced they will match the U.S. government's one-time $1,000 contribution to children's retirement savings accounts for eligible employees, demonstrating a commitment to the financial health of their employees' families.
- Wealth Gap Initiative: The program aims to narrow the U.S. wealth gap by encouraging long-term saving and investing from birth, attracting commitments from a growing list of wealthy individuals, including billionaires and celebrities.
- Employee Benefit Enhancement: CEO Jamie Dimon stated that this initiative will make it easier for employees to start saving early and invest wisely, thereby planning for their family's financial future, which enhances the company's appeal to current and prospective employees.
- Financial Sector Response: In addition to JPMorgan and Bank of America, firms like BlackRock, BNY, Robinhood, SoFi, and Charles Schwab have also announced matching contributions, highlighting the financial industry's focus on children's financial education.
Analyst Views on JPM
Wall Street analysts forecast JPM stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for JPM is 341.38 USD with a low forecast of 260.00 USD and a high forecast of 400.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
19 Analyst Rating
11 Buy
7 Hold
1 Sell
Moderate Buy
Current: 300.310
Low
260.00
Averages
341.38
High
400.00
Current: 300.310
Low
260.00
Averages
341.38
High
400.00
About JPM
JPMorgan Chase & Co. is a financial holding company. The Company is engaged in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing and asset management. The Company operates through three segments: Consumer & Community Banking (CCB), Commercial & Investment Bank (CIB), and Asset & Wealth Management (AWM). Its CCB segment offers products and services to consumers and small businesses through bank branches, ATMs, digital and telephone banking. Its CIB segment consists of banking and payments and markets and securities services, and offers a suite of investment banking, lending, payments, market-making, financing, custody and securities products and services to a global base of corporate and institutional clients. AWM segment offers investment and wealth management solutions. It offers multi-asset investment management solutions, retirement products and services, brokerage, custody, estate planning, and others.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
