UPDATE 2-JPMorgan may post Q2 loss - analyst Bove
June 29 (Reuters) - Veteran banking analyst Richard Bove expects a second-quarter loss for JPMorgan Chase & Co (JPM.N: Cotización) on repayment of government funds and payment of a Federal Deposit Insurance Corporation (FDIC) assessment.
Separately, Fox-Pitt's David Trone halved his second-quarter profit estimates for the bank, while Robert W. Baird's David George lowered his 2009 earnings view.
Rochdale Securities' Bove said he expects a second-quarter loss of 10 cents a share for JPMorgan Chase as redeeming the Troubled Asset Relief Program (TARP) preferreds may cost 39 cents a share and payment of an FDIC assessment will cost 13 cents a share.
Bove also reduced his 2009 earnings estimates for the company to $1.23 a share from his prior view of $1.61.
Analyst Trone slashed his second-quarter earnings estimate to 17 cents a share from 35 cents while Baird's George cut his fiscal 2009 estimate to $1.74 a share from $1.82 a share.
Shares of the New-York based lender were trading down 2 cents at $34.43 Monday afternoon on the New York Stock Exchange. They touched a 52-week low of $14.96 in March. (Reporting by Abhinav Sharma in Bangalore; Editing by Vinu Pilakkott)
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