Morgan’s dominant position is evident in its most recent quarterly performance, which delivered higher profits despite increased loan-loss provisions. This financial strength is underpinned by the bank’s fortress balance sheet with $4.36 trillion in total assets. This provides unmatched stability and lending capacity in an uncertain economic environment.
Morgan’s technology budget for 2025 is heavily focused on artificial intelligence applications and is already generating measurable productivity gains across its 200,000+ employees.
A massive $50 billion share repurchase program—the largest in its history—while simultaneously increasing the quarterly dividend adds real value for shareholders. Meanwhile the stock trades at a moderate 15.7 times the company’s forward earnings forecast.
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 $4.36 trillion as of March 31, 2025.
Partly due to the rising risk of an economic slowdown stemming from new U.S. tariffs, Morgan set aside $3.31 billion in the three months ended March 31, 2025, to cover potential loan losses. That’s up 75.4% from $1.88 billion a year earlier.
Despite those higher provisions, the bank’s earnings in the quarter rose 10.6%, to $14.32 billion from $12.94 billion a year earlier. Due to fewer shares outstanding, per-share earnings rose 14.2%, to $5.07 from $4.44. If you exclude a gain related to an investment, earnings per share in the quarter improved 10.6% to $4.91. Revenue in the quarter also improved 8.1%, to $46.01 billion from $42.55 billion.
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The higher results are mainly due to gains from its wealth management and securities-trading operations. That offset lower earnings from consumer banking operations.
Morgan remains well capitalized. It ended the quarter with a CET1 ratio of 15.4%. (CET1, or Common Equity Tier 1, measures a bank’s ability to keep extending credit to individuals and businesses.) That’s well above the U.S. Federal Reserve’s recent requirement that it maintain a minimum level of 12.3%.
Stress-test pass lets the company hike its dividend
The bank has passed the U.S. Federal Reserve’s latest annual stress test, which measures how financial firms would cope with a jump in unemployment, falling stock prices and other unfavourable developments.
As a result, Morgan plans to increase your quarterly dividend by 7.1%. In the third quarter of 2025, investors will receive $1.50 a share instead of $1.40. The new annual rate of $6.00 yields 1.9%.
As well, the bank has authorized a new $50 billion common share repurchase program. That’s equal to 6.3% of its current market cap of $789.0 billion. There are no time limits for those buybacks.
The stock, which is up 21% since the start of 2025, recently hit a new all-time high of $301.29 this week. It still trades at a reasonable 15.7 times the $18.49 a share that Morgan will probably earn in 2025.
Recommendation in Wall Street Stock Forecaster: J.P. Morgan Chase & Co. is a buy.
