Topic: How To Invest

Dividend Advisor Hotline – Friday, April 22, 2022

Article Excerpt

J.P. MORGAN CHASE & CO., $126.81, New York symbol JPM, remains a buy. The stock lets investors tap the largest banking firm in the U.S., with total assets of $3.95 trillion as of March 31, 2022. Morgan last raised your quarterly dividend with the October 2021 payment by 11.1%, to $1.00 a share from $0.90. The new annual rate of $4.00 yields 3.2%. The bank continues to benefit from rising loan demand and credit card use as the economy recovers from COVID-19. However, due to rising inflation and the uncertainty caused by Russia’s invasion of Ukraine, its loan-loss provisions in the first quarter of 2022 totalled $1.46 billion compared to a net credit of $4.16 billion a year earlier. As a result, Morgan’s earnings fell 42.1%, to $8.28 billion from $14.30 billion. It spent $1.7 billion on share buybacks during the latest quarter. That resulted in per-share earnings that declined at a slower rate of 41.6%, to $2.63 from $4.50. This missed the consensus…