Jim Cramer Says Banks Like JPMorgan Are Still Inexpensive

Jim Cramer, host of CNBC's Mad Money, said that major bank stocks like JPMorgan Chase & Co. (NYSE:JPM) remain inexpensive, advising investors to focus on where a stock is going, not where it has been.

Cramer's Rationale

Cramer noted that the regulatory environment has become more favorable for banks since President Trump took office, stating: "We're no longer hearing about onerous regulation. That ended when Trump came." He added that big banks like JPMorgan have strong fundamentals and trade at attractive earnings multiples.

Stock Performance

Cramer did not specify a price target, but indicated the stock still has upside. JPMorgan (JPM) currently trades at a P/E ratio of about 12x, below its historical sector average.

Context

Cramer's comments come amid a rally in bank stocks driven by expectations of interest rate cuts and economic improvement. Other analysts, such as those at Bank of America, also have a positive outlook on the sector.

What to Make of It

Cramer's remarks reflect cautious optimism toward the banking sector, but investors should consider risks such as economic slowdown or changes in monetary policy.