Updated: December 6, 2025
JPMorgan Chase stock today: price, performance and valuation
JPMorgan Chase & Co. (NYSE: JPM) heads into the first weekend of December trading just below its record highs. Shares closed at about $315.04 on Friday, December 5, after-hours at roughly $314.80, giving the bank a market value around $858 billion. The stock’s 52‑week range runs from about $202.16 to $322.25, with a trailing P/E near 15.6 and a forward P/E around 15.1. [1]
Based on recent data, JPMorgan’s dividend sits at $6.00 per share annually (currently $1.50 per quarter), implying a yield of roughly 1.9% at current prices, with the most recent ex‑dividend date on October 6, 2025. [2]
The stock has also been a strong long‑term performer. A mid‑November performance snapshot showed year‑to‑date gains of just over 30%, with one‑year returns around 29% and three‑ and five‑year gains above 140% and 200%, respectively — comfortably ahead of the S&P 500 over the same periods. [3]
December 6 spotlight: JPM named a top bank and financial stock to watch
On December 6, 2025, JPMorgan Chase appears prominently on several “stocks to watch” screens:
- Top bank stock to follow today: MarketBeat’s bank screener highlights JPMorgan alongside Bank of America, Citigroup, Wells Fargo and Nu Holdings as the five bank stocks with the highest recent dollar trading volume. [4]
- Top financial stock to follow today: A separate MarketBeat list for financial stocks again features JPMorgan, this time next to SoFi, Robinhood, Coinbase and Bank of America, emphasizing the stock’s heavy trading interest within the broader financial sector. [5]
These lists don’t constitute buy recommendations, but they do underscore how central JPM stock is to current market activity among both bank and fintech names.
Big money flows: hedge funds and asset managers boost JPM stakes
Fresh regulatory filings released today provide a window into how institutional investors are positioning around JPMorgan:
- Global Frontier Investments LLC opened a new position of 379,000 JPM shares in Q2, worth about $109.9 million. The position now accounts for roughly 26% of the firm’s portfolio, making JPMorgan its single largest holding. [6]
- Panagora Asset Management increased its JPM stake by 48.5%, to about 1.27 million shares valued near $368 million. JPMorgan is now Panagora’s 7th‑largest holding, at roughly 1.7% of its portfolio. [7]
- Portfolio Design Labs LLC lifted its position by 36.8% to 23,758 shares, worth around $6.9 million, making JPM its 18th‑largest holding. [8]
Across the shareholder base, institutional and hedge fund investors collectively control about 71.5% of JPMorgan’s shares, underlining its status as a core holding for large professional managers. [9]
Earnings, dividend and capital return: JPMorgan’s fundamentals
Recent articles summarising JPMorgan’s latest quarterly results point to a still‑robust earnings engine:
- Q3 2025 results: The bank reported earnings per share of $5.07, comfortably above consensus estimates near $4.83. Quarterly revenue came in around $47.1 billion versus expectations of about $44.4 billion, roughly 9% year‑over‑year growth. [10]
- Profitability: JPMorgan’s return on equity sits above 17%, with a net margin around 21%, levels that remain at the high end for large global banks. [11]
- Dividend growth: The quarterly dividend was raised from $1.40 to $1.50 per share in 2025, a 7% increase following prior hikes earlier in the year. The payout ratio is just under 30%, leaving room for further buybacks or dividend growth if earnings hold up. [12]
Analysts and commentators have framed JPMorgan’s capital returns — including a $50 billion share repurchase program and repeated dividend increases — as key reasons the stock commands a valuation premium versus many peers. [13]
What Wall Street is saying: mixed labels, broadly positive numbers
Analyst ratings on December 6 paint a nuanced picture:
- A new MarketBeat roundup finds that 27 brokerages covering JPMorgan collectively assign an average rating of “Hold”, with 3 “Sell,” 9 “Hold” and 15 “Buy” ratings. Their average 12‑month price target is about $325.81, only a few percent above the current price. [14]
- By contrast, another aggregation from StockAnalysis that focuses on a smaller group of 13 analysts tags the stock as an overall “Buy,” with a very similar average target of $326.08, implying roughly 3.5% upside from recent levels. [15]
- Zacks Investment Research currently gives JPMorgan a Rank #3 (Hold). Its latest estimates call for EPS of $4.90 and revenue of about $45.4 billion in the upcoming quarter, and full‑year EPS near $20.24 with revenue around $182.5 billion, modestly higher than last year. [16]
In other words, Wall Street largely agrees that JPMorgan remains a high‑quality franchise with solid earnings and a “fortress” balance sheet — but after a strong run toward all‑time highs, many analysts see only limited near‑term upside from today’s price.
Technical snapshot: bullish trend above key support levels
Short‑term technical analysis of JPM stock continues to lean bullish:
- As of early December, JPMorgan is trading above both its 50‑day and 200‑day simple moving averages (around $306.73 and $294.65, respectively), a classic sign of an established uptrend. [17]
- A weekly technical review for “Week 49” describes the chart as rebounding above the 10‑day moving average, with a rising Relative Strength Index around the high‑50s and an emerging ascending‑triangle pattern — all consistent with persistent buying interest. [18]
- That same analysis highlights short‑term support zones around $302 and $291 and resistance in the low $300s and around $313–$318, suggesting that any decisive move through the upper band could set the stage for another test of the $320+ area. [19]
For active traders, this mix of strong fundamentals and a still‑bullish technical backdrop is part of why JPMorgan keeps appearing on “top stocks to watch” lists. For longer‑term investors, it underscores how fully the market is already pricing in much of the bank’s near‑term strength.
Open banking and data: JPMorgan monetises fintech connections
Beyond headline earnings, JPMorgan is also reshaping how it gets paid for its role in the data economy.
A mid‑November report highlighted that the bank has signed paid‑access agreements with major data aggregators including Plaid, Yodlee, Morningstar and Akoya. These firms sit between banks and fintech apps that need customers’ account data for budgeting tools, payments and other services. [20]
For years, many aggregators tapped this data for free, prompting banks to push back on both security and economics. The new arrangements mean:
- JPMorgan will receive fees when third‑party apps pull customer data via these aggregators.
- The deals arrive as the Consumer Financial Protection Bureau’s open banking rule is being revisited, creating uncertainty over how data‑sharing costs and responsibilities will be split across banks, fintechs and consumers. [21]
The agreements strengthen JPMorgan’s hand in open banking just as regulation is evolving, and they could help support fee income and margins over time — a non‑trivial point as interest rates eventually move lower.
Strategic growth: new London HQ and AI‑driven market optimism
JPMorgan’s outlook is not just about the next quarter; it’s also about where global finance and technology are heading.
A new three‑million‑square‑foot London tower
In late November, JPMorgan announced plans for a new 3‑million‑square‑foot headquarters tower in London’s Canary Wharf, designed to house up to 12,000 employees and expected to support around 7,800 construction and related jobs, with a projected £9.9 billion contribution to the local economy over six years. [22]
The project, still subject to approvals, signals a long‑term commitment to London as a global financial hub and underlines JPMorgan’s confidence in cross‑border banking demand despite geopolitical tensions.
House view: S&P 500 at 7,500 in 2026?
The same coverage reveals an assertively bullish 2026 market call from JPMorgan’s strategy team:
- Dubravko Lakos‑Bujas (Lakos‑Nujas), the bank’s head of global market strategy, has projected the S&P 500 at 7,500 by the end of next year, with upside beyond 8,000 if the Federal Reserve delivers additional rate cuts. [23]
- The forecast assumes earnings growth of roughly 13–15% over the next two years, powered in part by what JPMorgan describes as an AI‑driven “supercycle” in corporate investment and productivity. [24]
If that macro view proves correct, it would likely be supportive for large diversified banks such as JPMorgan, which benefit from higher capital markets activity, wealth management flows and healthier credit performance when the broader equity market is strong.
JPMorgan’s own 2026 macro playbook: AI, fragmentation and inflation
JPMorgan’s in‑house outlooks for 2026 offer more detail on the environment in which JPM stock will be operating:
- A “2026 Year‑Ahead Investment Outlook” from J.P. Morgan Asset Management argues that both economic growth and inflation may briefly re‑accelerate in early 2026 before slowing as new tariffs and lower immigration begin to weigh on activity. The team expects a “shallow easing path” from the Fed, with roughly two to three rate cuts through 2026, and sees long‑term yields remaining range‑bound, favoring selective income strategies across bonds and securitised assets. [25]
- A companion “Outlook 2026: Promise and Pressure” from J.P. Morgan Wealth Management frames the next year around three megatrends: artificial intelligence, global fragmentation and persistent but more moderate inflation. [26]
- Economists at the private bank expect US inflation to settle in a 2.25–2.5% range in 2026, slightly higher at the start of the year and drifting lower later on, a level they describe as a “sweet spot” that supports nominal growth while still allowing the Fed to cut rates twice more. [27]
For JPMorgan the institution, this scenario — moderate growth, warm but contained inflation, and cautious Fed easing — tends to favor steady loan demand, resilient credit quality and solid fee income, rather than crisis‑level volatility.
Jamie Dimon’s caution: correction risks and policy worries
Against that relatively constructive house view, JPMorgan Chairman and CEO Jamie Dimon continues to strike a noticeably more cautious tone.
In October, Dimon warned of a “heightened risk” of a significant US stock market correction over the next six months to two years, citing a combination of geopolitical tensions, heavy fiscal spending and global re‑armament as sources of uncertainty. [28]
More recently, he has argued that the US could face “European‑style” economic stagnation over the next few decades if it does not reverse what he sees as anti‑business policies in certain states and cities, pointing to high taxes and regulatory burdens that may push companies and high‑income taxpayers to friendlier jurisdictions such as Florida and Texas. [29]
For JPMorgan shareholders, that mix of bullish internal forecasts and a risk‑focused CEO is important context:
- On one hand, the bank’s strategists expect AI investment, easing policy and resilient nominal growth to support corporate earnings and equity valuations. [30]
- On the other, Dimon is openly worried about market overheating and long‑term policy missteps, which could mean more volatility ahead even if the base case remains positive. [31]
Is JPMorgan stock expensive — or appropriately priced?
Several recent analyses have wrestled with the question of valuation now that JPMorgan is trading close to record levels:
- A late‑September review noted that JPM shares recently hit a new all‑time high around $316.31, that the stock trades at a forward P/E slightly above its large‑bank peers, and that its premium reflects strong balance‑sheet quality, capital returns and earnings resilience. [32]
- Zacks’ December 4 update points out that JPMorgan’s forward P/E of about 15.4 is actually at a discount to the broader investment‑banking industry average, while its PEG ratio near 1.6 is above the industry’s 1.1, suggesting investors are paying a premium for its growth profile but not an extreme one. [33]
- StockAnalysis data similarly shows JPM trading at around 15–16x trailing earnings with a mid‑single‑digit upside implied by consensus price targets, consistent with a high‑quality franchise priced close to fair value rather than a deep bargain. [34]
In short, the current market appears to be assigning JPMorgan a modest quality premium — not cheap, but not obviously bubble‑like either, especially if 2026 earnings grow as forecast.
Key catalysts to watch for JPM stock
Investors tracking JPMorgan Chase stock over the coming weeks and months will likely focus on several major catalysts:
- Federal Reserve decisions
- JPMorgan’s own economists now expect the Fed to deliver one rate cut in December and another in January, a shift from earlier expectations of delayed easing. [35]
- Banks are especially sensitive to the path of short‑term rates, which affect net interest income and loan demand.
- Q4 2025 earnings (expected January 2026)
- Credit quality and consumer health
- Analysts are watching charge‑off trends, particularly in credit cards and leveraged corporate loans, as rate cuts begin to filter through and economic growth potentially re‑accelerates. [38]
- Regulation and open banking
- The outcome of US open‑banking rule revisions, and how banks and fintechs share the costs of data access, will shape the economics of JPMorgan’s data‑sharing agreements in the coming years. [39]
- Progress on the London HQ and global expansion
- Approvals and construction milestones for the Canary Wharf tower will be watched as a barometer of JPMorgan’s commitment to the UK and Europe. [40]
Bottom line: where JPMorgan Chase stock stands on December 6, 2025
As of December 6, 2025, JPMorgan Chase stock is priced for strength, not perfection:
- The share price sits near record highs after years of market‑beating performance. [41]
- Fundamentals remain robust, with double‑digit earnings, strong ROE, rising dividends and a fortress balance sheet. [42]
- Institutional investors continue to add to positions, even as headline analyst ratings converge toward “Hold” amid limited near‑term upside from current targets. [43]
- The bank’s own strategists see AI‑driven earnings growth and moderate inflation supporting equities in 2026, while its CEO keeps warning about correction risks and policy mistakes. [44]
For investors and traders alike, JPMorgan now embodies the broader US market story: high quality, richly owned, supported by powerful structural themes — but increasingly sensitive to macro surprises and policymaking errors.
Important note: This article is for informational and news purposes only and does not constitute financial advice, investment recommendation or an offer to buy or sell any security. Always do your own research and consider consulting a licensed financial advisor before making investment decisions.
References
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