JPMorgan Chase hits all-time high with buybacks and dividends boost.

From Investor’s Business Daily: 2024-07-01 16:07:00

JPMorgan Chase stock, the IBD Stock of The Day, saw a 1.6% rise as it flirted with a buy point at an all-time high. The Dow Jones giant raised dividends and buybacks, boosted by an optimistic outlook for net interest income. Analysts expect the bank to benefit further from continued interest rate hikes.

JPMorgan Chase passed the Fed stress test and raised its quarterly dividend, with a $30 billion stock buyback. Shares have an SMA rating of A and an up/down volume ratio of 1.4, indicating strong institutional support. The bank is well-positioned for growth and saw a surge in upside volume on June 28.

Earnings for JPMorgan Chase are expected to slow, with a gain of 2.5% in full-year 2024 and a 0.4% gain in 2025. Although the bank has seen strong earnings growth in recent years, sales growth has slowed. The bank remains one of the top U.S. banks by assets, with a market-leading growth trajectory.



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