JPMorgan Chase (JPM)
NYSEFinancialsBanks - DiversifiedSnapshot 2026-07-07
$339.15+0.42%
Close 2026-07-07 · 1-day change
Reading JPM? This analysis is rebuilt every market day. Get it tracked free. No credit card.
Track JPM free→NYSEFinancialsBanks - DiversifiedSnapshot 2026-07-07
Reading JPM? This analysis is rebuilt every market day. Get it tracked free. No credit card.
Track JPM free→Intact: The reason to own it still holds.
JPMorgan grows net income from $14.4B to $16.5B in 2026-Q1. Operating income rose from $18.7B to $20.5B in the same period. The bank keeps strong capital with CET1 near 14.3% and high liquidity. It raised dividends and started a $50B share buyback program.
Economic or oil market troubles could hurt JPMorgan's income. Regulatory rules on stablecoins may reduce profits. Currency bet cuts may slow net income growth.
The price is about 9% above our fair value near $309. Analysts expect 7% revenue growth. Our fair value is below the Street median, so weigh the Street range.
Breaks if: Dividend cut or buyback canceled after 2026-Q3
Raise quarterly dividend to $1.65 and initiate a new $50 billion common share repurchase program starting July 2026.
Standing thesis, reviewed periodically — not a price target or advice.
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
Newly stated in 2026-Q2. The Board announced an intended dividend increase to $1.65 per share and authorized a $50 billion share repurchase program effective July 1, 2026. This is a new capital allocation priority with no prior quarters stating it.
“Board intends to increase quarterly dividend to $1.65 and authorized $50B share repurchase program.”
Breaks if: CET1 falls below 14.3% or excess HQLA below $270B in 2026-Q1
Sustain robust capital ratios and liquidity buffers to support business and regulatory requirements.
Management emphasized maintaining strong capital and liquidity in 3 of last 3 quarters. CET1 capital ratio remained robust, ranging from 14.8% in 2025-Q3 to 14.3% in 2026-Q1, while total excess HQLA increased from $241B to $272B. The firm is delivering on this priority with a stable and strong balance sheet.
“CET1 capital ratio of 14.3% and total excess HQLA of $272B”
“CET1 capital ratio of 14.8% and total excess HQLA of $241B”
“CET1 capital ratio of 15.4% and total excess HQLA of $292B”
Breaks if: net income falls below $16.5B in 2026-Q1
Focus on growing net income through revenue growth and expense management across business segments.
Stated as a priority in 3 of last 3 quarters. Net income increased from $14.4B in 2025-Q3 to $16.5B in 2026-Q1, a 13% year-over-year growth. Management has consistently emphasized net income growth through revenue expansion and expense discipline, and the financial results show delivering trajectory.
“1Q26 net income of $16.5B, up 13% YoY”
“3Q25 net income of $14.4B, up 12% YoY”
“1Q25 net income of $14.6B”
Breaks if: operating income falls below $20.5B in 2026-Q1
Drive operating income growth by increasing revenues and managing expenses effectively across segments.
Management stated this priority in 3 of last 3 quarters. Operating income rose from $18.7B in 2025-Q3 to $20.5B in 2026-Q1, driven by revenue growth and expense management. The trajectory is delivering consistent improvement aligned with management's emphasis.
“Operating income of $20.5B in 1Q26”
“Operating income of $18.7B in 3Q25”
“Operating income of $18.4B in 1Q25”