Updating JPMorgan Chase & Co.

Article Excerpt

J.P. MORGAN CHASE & CO. $111 (New York symbol JPM; Conservative-Growth Payer Portfolio, Finance sector; Shares outstanding: 3.4 billion; Market cap: $377.4 billion; Dividend yield: 2.9%; Dividend Sustainability Rating: Above Average; www.jpmorganchase.com) is the largest banking firm in the U.S., with total assets of $2.6 trillion as of September 30, 2018. Morgan last raised its quarterly dividen by 42.9% with the October 2018 payment, to $0.80 a share from $0.56. The new annual rate of $3.20 yields 2.9%. In addition, the bank plans to buy back up to $20.7 billion in common shares by June 30, 2019. Meantime, in the third quarter of 2018, Morgan earned $8.4 billion, up 24.5% from $6.7 billion a year earlier. Per-share earnings rose 33.0%, to $2.34 from $1.76, on fewer shares outstanding. Revenue gained 6.6%, to $27.3 billion from $25.6 billion. Despite higher interest rates, demand for new consumer loans and credit cards continues to improve. Better earnings at Morgan’s corporate financing and wealth management businesses also contributed to the…

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