Despite a mixed earnings report for JPMorgan Chase, "Fast Money" traders believe its shares look enticing.
The largest U.S. bank's stock fell after it posted third-quarter revenue that slid from the previous year; it also warned that sluggishness in its trading unit could continue. Profit rose to $1.68 per share including a one-time $2.2 billion tax benefit and other items, but was $1.32 a share after adjustments.
The stock fell nearly 2 percent in extended trading, lingering above $60 per share.
"I love the stock down here at these levels," said trader Pete Najarian.
He pointed to strength in core loans, which increased 15 percent in the quarter from the year before.
Trader Tim Seymour added that weakness in JPMorgan's trading segment will be seen in all the big banks.
"These numbers are fine," he said.
Trader Steve Grasso added that the stock looks enticing. He also projected upside for Bank of America, which he owns.
Tim Seymour is long AAPL, BAC, CLF, DIS, F, FCX, GE, GM, GOOGL, INTC, JPM, KO, LGF, T, TWTR, Tim's firm is long BABA, BIDU, MCD, NKE, NOK, SBUX, YHOO.
Long AAPL, AMAT, BAC, BMY, BP, CSX, DIS, DISCA, DKS, FOXA, GE, KKR, KO, MRK, PEP, PFE, PHM he is long calls ABX, AGN, BAC, BEE, DAL, ETFC, F, FL, GPRO, JOY, JPM, LM, LUK, MAS, MPEL, PBR, SWFT, UAL, VALE, VZ, ZIOP, he is long puts DISH, EWW, FCX, MRO, TNK, TSLA, X
Steve is Long AAPL, BA, BAC, CC, DD, DIS, DECK, EVGN, FIT, KBH, MJNA, MU, OLN, PFE, PHM, T, TWTR, GDX firm is long BP, COP, CVX, FCX, NE, NEM, OXY, RIG, AMZN kids own EFA, EFG, EWJ, IJR, SPY
Opinions expressed by David Seaburg are solely his own and do not reflect the views and opinions of Cowen Group, Inc