J.P. Morgan Chase Extends Streak of Rising Revenues and Shareholder Payouts

J.P.Morgan Chase & Co. offers one of the best combinations of quality, diversification, and profitability in global banking: it’s the largest U.S. bank by market cap and runs the world’s largest investment bank by revenue. The earnings engine is a blend of scale consumer banking, top‑tier cards, leading payments, deep corporate banking relationships, and dominant markets and advisory businesses.

Meanwhile, the firm continues to invest in secular growth areas like payments, digital, and wealth management. This dividend has also been raised to support its solid yield.

The stock offers an attractive mix of income and growth at a valuation that appears reasonable to slightly discounted relative to its quality. Shares trade at just 13.5 times the company’s forward earnings forecast with a very strong balance sheet and plenty of revenue and earnings growth upside.

J.P. MORGAN CHASE & CO.(New York symbol JPM; www.jpmorganchase.com) is the largest banking firm in the U.S., with total assets of $4.90 trillion as of March 31, 2026.

Morgan has agreed to take over the credit card operations of Apple Inc. (Nasdaq symbol AAPL). This business has roughly $20 billion of outstanding loan balances. It expects to complete the transaction over the next two years.

The bank has agreed to take over the credit card operations of Apple Inc. This business has roughly $20 billion of outstanding loan balances.

Apple and Goldman Sachs Group Inc. launched the co-branded card (called Apple Card) in 2019. However, the new card was not as profitable as Goldman hoped.

Morgan’s expertise with consumer credit cards should help it better tap into Apple’s loyal user base. It expects to complete the transaction over the next two years.
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Morgan’s low P/E and solid dividend offer appeal

The bank continues to benefit from strong consumer demand for loans and credit cards, as well as higher stock trading volumes and asset values at its wealth management operations.
Revenue in the first quarter of 2026 improved 9.5%, to $50.54 billion from $46.01 billion a year earlier. That also beat the consensus forecast of $48.95 billion.

Morgan’s credit quality also remains strong. It set aside $2.51 billion to cover potential loan losses in the quarter, down 24.2% from $3.31 billion.

The lower provisions also lifted Morgan’s earnings by 12.8%, to $16.15 billion from $14.32 billion; due to fewer shares outstanding, per-share earnings rose at a faster rate of 17.2%, to $5.94 from $5.07. That also topped the $5.46 consensus estimate.

In 2026, Morgan’s earnings will probably rise 13% to $22.21 a share. The stock, which is up over 18% in the past year, trades at an attractive 13.5 times that forecast.

JPM last raised your quarterly dividend with the October 2025 payment, to $1.50 a share, up 7.1% from $1.40. The new annual rate of $6.00 yields 2.0%.

Recommendation in Wall Street Stock Forecaster: J.P. Morgan Chase & Co. is a buy.

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Jim Bates

Jim is an associate editor at TSI Network. He is the lead reporter and analyst for The Successful Investor and Wall Street Stock Forecaster and a member of the Investment Planning Committee. Jim has held the Chartered Financial Analyst designation since 1992 and spent more than a decade at the Financial Post DataGroup before joining TSI Network. He has a Bachelor of Commerce degree from the University of Toronto.

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