SEC Reviewing JPMorgan Losses; Holding Closed Meetings – BAC, C, KEY, MS, BPOP, MET, STD, BK

The US Securities and Exchange Commission organized at least two special meetings in the previous week to evaluate the situation surrounding JPMorgan Chase & Co. (JPM)’s $2 billion loss, in accordance with people familiar with the issue.

The SEC held a closed meeting on Saturday, May 12, and one more three days afterward to talk about “an examination of a financial institution,” in accordance with a news release e-mailed May 15.

The agency’s five commissioners organized the meetings to find out what staff knew regarding the losses and to talk about how the agency should respond, stated two people who refused to be recognized as the negotiations weren’t public.

Its competitors include Bank of America Corp (NYSE:BAC) that surged 1.27% to $7.20 with the total traded volume of 112.82 million shares and Citigroup Inc. (NYSE:C) that moved up 1.60% to $27.35 with the total traded volume of 25.77 million shares.

Other financial stocks with bullish trend include KeyCorp (NYSE:KEY) up 0.67% to $7.56, Morgan Stanley (NYSE:MS) up 2.51% to $13.88 and Popular, Inc. (NASDAQ:BPOP) up 0.34% to $1.50, whereas with bearish trend include Metlife Inc (NYSE:MET) down -0.54% to $31.46, Banco Santander, S.A. (ADR) (NYSE:STD) down -0.71% to $5.63 and The Bank of New York Mellon Corporation (NYSE:BK) down -0.58% to $20.69.

JPMorgan Chase & Co. (NYSE:JPM) dropped -1.97% or -$0.70 to trading at $34.76 at 11:31AM EDT following it hit intraday high level of $35.10. The total traded volume in the current trading session is 44.46 million shares as compared to average 41.91 million shares. Its fifty two week trading range is $27.85 – $46.49. The total market capitalization reached $132.28 billion.

The stock price was ahead its 52 week low price with 25.58% and it lagged behind -25.30% from its 52 week maximum mark. Stock price volatility for last month remained 2.29%. In its share capital, the company has 3.81 billion outstanding shares out of which 3.79 billion shares have been floated in the market. For now, stock ownership with company’s management remained 0.17%.

JPM presented a negative weekly performance of -12.75% with respect to its rate of return and it remained -19.23% for the month. However, the performance for a quarter experienced a negative change of -4.57% and it slumped -16.72% for a year and its year to date performance remained in green with 8.11%.

Current stock price is in the downbeat territory taking into account of 20 days moving average with -16.47% and continued bearish run for 50 days moving average with -19.54%. Its earning per share for the past twelve months was $4.50. Company’s beta coefficient was at 1.29. Beta measures the amount of market risk associated with market trade.

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