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Industrials : Trading Companies & Distributors | Small Cap Blend
Company profile

GATX Corporation is a global railcar lessor, owning fleets in North America, Europe, and Asia. In addition, the Company operates fleet of the United States-flagged vessels on the Great Lakes and jointly with Rolls-Royce plc, it owns aircraft spare engine lease portfolios in the world. It operates through three business segments: Rail North America, Rail International and Portfolio Management. It approximately owns a fleet of 147,000 railcars. It offers customers leasing, maintenance, asset, financial, and management expertise. It leases tank cars, freight cars, and locomotives in North America, tank cars and freight cars in Europe and freight cars in India and Russia. The Company's rail customers primarily operate in the petroleum, chemical, food/agriculture and transportation industries. Its railcar fleet consists of diverse railcar types that its customers use to ship more than 600 different commodities.

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Today's volume of 9,794 shares is on pace to be much lighter than GATX's 10-day average volume of 163,752 shares.


Here's how JPMorgan's stock under Jamie Dimon has stacked up against other big banks

10:54 am ET April 7, 2021 (MarketWatch)

By Philip van Doorn

JPMorgan's stock, in an impressive feat, has soundly beaten the S&P 500's total return over long periods.

JPMorgan Chase & Co. CEO Jamie Dimon took the leadership spot at the largest U.S. bank in December 2005. It has been an excellent run for the bank's investors, as you can see below.

In his latest letter to shareholders ( April 7, Dimon wrote that over the long term, the performance of JPMorgan Chase's (JPM) stock reflects the bank's "progress," which he defined as "a function of continual investments in our people, systems and products, in good and bad times, to build our capabilities."

Those are fine words, backed by outperformance against the S&P 500 Index during his tenure.

Check out these total returns for JPM and the index (both with dividends reinvested) for longer periods through April 6:

So JPM has soundly beaten the S&P 500's total return for five, 10 and 15 years. It has trailed for three years, but keep in mind what a remarkable run the index has had, led by rapidly growing tech-oriented companies. It's also worth noting that bank stocks tend to trade at price-to-earnings ratios of about 60% to 70% of the index's P/E.

Read: U.S. economy will boom into 2023, but inequality must be addressed: Jamie Dimon in his latest letter to JPMorgan shareholders (

As of the close April 6, the forward P/E ratio for the SPDR S&P 500 ETF Trust (SPY) was 22.3, while the forward P/E for the Invesco KBW Bank ETF (KBWB) was 13.4, according to FactSet. JPM's forward P/E was 13.5. So the bank stocks still appear to be on the cheap side, relative to the S&P 500.

Bank earnings in the spotlight

Bank earnings season begins on April 14, when JPM, Wells Fargo & Co. (WFC) and Goldman Sachs Group Inc. (GS) report their first-quarter results. Bank of America Corp. (BAC) and Citigroup Inc. (C) will report April 15. Rounding out the big six U.S. banks (when ranked by total assets), Morgan Stanley (MS) will report April 16.

Odeon Capital Group analyst Dick Bove advised clients in a note April 6 "to avoid making investment decisions based on first-quarter results."

He expects that in the second half of 2021, "the economy will be growing so rapidly that when we reach that period, bank earnings will be soaring." He has "buy" ratings on all of the big six U.S. banks listed above.

How the big bank stocks have performed

Here's a ranking of the 15 largest U.S. banks by asset size, with long-term total returns through April 6:

For the definition of "bank," we have included bank and thrift holding companies. So Charles Schwab Corp. (SCHW) is on the list, even though securities brokerage is its main business. Through its bank subsidiary, Schwab gathers deposits and makes loans.

Looking back at the 20-, 15- and 10-year periods, JPM has had the strongest total returns. For five years, Morgan Stanley has been the clear leader, followed by Bank of America, with JPM ranked third. For three years, American Express Co. (AXP) takes the prize, followed by Morgan Stanley and then JPM.

Don't miss:These stocks seem expensive now, but in two years you may wish you'd bought them at these prices (

-Philip van Doorn; 415-439-6400;


(END) Dow Jones Newswires

April 07, 2021 10:54 ET (14:54 GMT)

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