JPMorgan Stock To Increase Its Dividend From Q3

JPMorgan Stock To Increase Its Dividend From Q3

JPMorgan stock (NYSE: JPM) gained roughly 24% YTD, and at its current price of $157 per share, it is trading 4% below its fair value of $163 – Trefis' estimate for JPMorgan's valuation. The bank announced on 28 June that it has completed the Federal Reserve's 2021 Comprehensive Capital Analysis and Review ("CCAR") stress test process, which is conducted every year to assess, regulate, and supervise large banks and financial institutions. Notably, the Fed imposed some restrictions on dividends and share buybacks by the large banks last year, due to the economic slowdown. However, all the banks which are part of the annual stress test exercise 2021 were able to successfully clear it. Hence, JPMorgan expects to increase the quarterly common stock dividend to $1. 00 per share (up from the current $0. 90 per share) for the third quarter of 2021 (subject to approval by the Board of Directors). Further, JPM announced a $30 billion share repurchase plan in December 2020, valid for an indefinite timeframe. The full-year 2020 revenues of $119. 5 billion were slightly higher than the 2019 figure. This was driven by a significant jump in the corporate & investment bank segment due to higher