JP Morgan Chase & Co (JPM) Buy, Sell or Hold

JP Morgan Chase & Co (JPM)

335.26

+1.73 (0.52%)

as of Oct 20, 2026, 8:00:00 pm Market Open.

556 watching

BUY

Until last week it was a well-run company. The market over reacted. You will probably make some money out of this one but you have to take the volatility.

COMMENT

Would you Short this one? No. We have seen a lot of the damage come out of the stock in the last couple of days. Stock pays a decent dividend, so if you are Shorting it, you have to cover the dividend is well.

DON'T BUY

Prefers Canadian banks but this is probably the cream of the crop in terms of US banks.

BUY

Just came up with good quality earnings. You are seeing a return of the consumer. Loan reserves going back into earnings. Well run company. Large investment bank. May not be as stable as Wells Fargo. 2.7% dividend.

BUY

If he bought a US financial it would be this one. They are one that passed the stress test and raised the dividend. But as a Canadian, why would you want to be in US banks.

DON'T BUY

Been in the news because of stress testing. Announced yesterday they are raising dividend and increasing buy backs. His question is what is the catalyst for earnings. He owns GS.

BUY

American banks are very cheap at these levels. US economy is improving. This one has a fantastic retail franchise and a great investment bank. This is a great time to be buying these things. (See Top Picks.)

DON'T BUY

Banking stocks had this bounce back on a technical basis only. They were cheap and very oversold, so bounced back. This is one of the best of the group. Housing problems cause difficulty in mortgage originations. From a fundamental perspective it is hard to get excited.

COMMENT

Shorter-term, he expects it to move up. Fears from Europe had dissipated a little bit. He would prefer a smaller bank such as Keycorp (KEY-N).

TOP PICK

(A Top Pick Nov 8/10. Down 18.59%.) Way too big to fail. Model price is $47.52. Quality name compared to others.

DON'T BUY

Difficult to call the bottom on the US banking sector. If the economy recovers and to be no more loans, they will do better. Doesn't think US banking will be the next leading sector however you probably have a reasonable return.

COMMENT

Being fined more than $150 million for allegedly misleading investors in connection with a collateralized debt obligation. Expect there will be other banks that will see similar fines. Meaningless in the grand scheme of things.

PAST TOP PICK

(Top Pick Jun 25/10, Up 3.9%) Floating rate, maturing February/12. Half increase is price gain rather than yield.

DON'T BUY

Probably amongst the best run US banks and came out of 08 the strongest, but is also the most expensive. He would suggest you buy the stability of the banks in Canada and go to the US for something with a higher risk profile, such as Bank of America (BAC-N), which trades at about 1.1X tangible book where this one is about 1.4X but you have to wait for it to mature.

PAST TOP PICK

(Top Pick Mar 1/10, Up 11.40%) Still likes it. There is still some upside left in it. It was a pick because credit metrics lined up. It is turning out to be more of a defense play. They have been removing the toxic mortgages in a systematic way. The book value of the company is growing steadily.

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JP Morgan Chase & Co (JPM)