Topic: How To Invest

Dividend Advisor Hotline – Friday, July 22, 2022

Article Excerpt

J.P. MORGAN CHASE & CO., $114.76, New York symbol JPM, remains a buy. The stock lets investors tap the largest banking firm in the U.S., with total assets of $3.84 trillion as of June 30, 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 3.5%. Due to rising fears of a recession, triggered by higher interest rates and inflation, Morgan set aside $1.10 billion to cover potential loan losses in the quarter ended June 30, 2022, compared to a net credit of $2.29 billion a year earlier. As a result, Morgan’s earnings in the quarter fell 27.0%, to $2.76 a share (or a total of $8.65 billion) from $3.78 a share (or $11.95 billion) a year earlier. That missed the consensus estimate of $2.88 a share. Revenue improved 0.7%, to $31.63 billion from $31.40 billion, but that also fell short of the consensus forecast of $31.95 billion…

You are trying to access subscriber-only content.

To read this article, you may subscribe or sign in.
If you are already a subscriber, log in here.

If you wish to become a subscriber, click here. Or you may enjoy access to all our publications when you become a Member of Pat McKeough's Inner Circle Pro.