Topic: How To Invest

Dividend Advisor Hotline – Friday, October 21, 2022

Article Excerpt

J.P. MORGAN CHASE & CO., $122.23, New York symbol JPM, remains a buy. The stock lets investors tap the largest banking firm in the U.S., with total assets of $3.77 trillion as of September 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 3.3%. In response to rising interest rates and inflation, the bank set aside $1.54 billion to cover potential loan losses in the quarter ended September 30, 2022, compared to a net credit of $1.53 billion a year earlier. As well, Morgan incurred losses of $959 million, or $0.24 a share, from its investment portfolio. Those items are largely why earnings in the quarter fell 16.6%, to $3.12 a share (or a total of $9.74 billion) from $3.74 a share (or $11.69 billion) a year earlier. Even so, that beat the consensus estimate of $2.89 a share. Revenue improved 10.4%, to $32.76 billion from $29.65…