Topic: How To Invest

Wall Street Stock Forecaster Hotline – Friday, July 7, 2023

Article Excerpt

J.P. MORGAN CHASE & CO., $144.34, New York symbol JPM, remains a buy. The stock lets investors tap the largest banking firm in the U.S., with its total assets of $3.74 trillion as of March 31, 2023. The bank has passed the U.S. Federal Reserve’s latest 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 the quarterly dividend by 5.0%. With the regular third quarter dividend of 2023, that payment will rise to $1.05 a share from $1.00. the new annual rate of $4.20 yields 2.9%. Moreover, the bank will continue with its current plan to buy back up to $26.69 billion of its shares (as of March, 31, 2023). That’s equal to 6% of its current market cap (the total value of all outstanding shares) of $421.8 billion. J.P. Morgan is a buy. J.P. Morgan recent coverage: Hotline for May 5, 2023 Hotline for April 14, 2023 WELLS…