Topic: How To Invest

Wall Street Stock Forecaster Hotline – Thursday, June 30, 2022

Article Excerpt

J.P. MORGAN CHASE & CO., $112.61, 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 $3.95 trillion as of March 31, 2022. 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. However, Morgan will have to set aside more capital as a buffer against a possible recession. As a result, it did not increase its current quarterly dividend of $1.00 a share; the annual rate of $4.00 nonetheless yields a solid 3.6%. Note that the bank will continue with its current plan to buy back up to $30 billion of its shares. That’s equal to 9% of its current market cap (the total value of all outstanding shares) of $330.7 billion. J.P. Morgan is a buy. J.P. Morgan recent coverage: Hotline for May 27, 2022 Hotline for April 14,…

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