JPMorgan (JPM) Stock Down on Asian Hiring Probe Settlement
NEW YORK (TheStreet) -- Shares of JPMorgan Chase (JPM) - Get Report are down 0.34% to $63.71 this afternoon as the company approaches a settlement with prosecutors over criminal and civil probes, the Wall Street Journal reports.
The company is under scrutiny from the SEC for its hiring processes in Asia, including a Chinese program that hired the sons and daughters of powerful people such as government officials.
The investigation into JPMorgan's hiring processes first began in August of 2013.
Settlement for the probe is expected in the upcoming months. The company will pay about $200 million in the settlement, the Wall Street Journal said.
Separately, TheStreet Ratings rated this stock as a "buy" with a ratings score of A-.
The company's strengths can be seen in multiple areas, such as its revenue growth, expanding profit margins, growth in earnings per share and attractive valuation levels. TheStreet Ratings feels its strengths outweigh the fact that the company has had somewhat disappointing return on equity.
You can view the full analysis from the report here: JPM
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.