- More investigations please. JPMorgan (JPM +1%) crosses $58 per share for the first time in Jamie Dimon's CEO tenure (which began on Dec. 31, 2005). This compares to a $53.20 peak ahead of the financial crisis (the stock was in the 60s prior to the Internet bubble crash).
- More importantly, the recent run has brought the shares above their book value of $52.01. Bank of America, Citigroup, and Morgan Stanley remain below book, though Morgan is close to breaking through.
- In many ways, JPMorgan is better-run than before the financial crisis, says UBS' Derek De Vries, noting ROE of 18% for the year's first nine months compares to 12% during the same period in 2006 and 7% in 2005. Pointing to the rising dividend payout ratio (34% of earnings this year compared to 23% a year ago), RBS' Gerard Cassidy, says regulators won't let the bank do anything else with its money. "If you were a high-tech stock ... being called a utility would kill the stock price ... but being a financial called a utility is very positive."
at CNBC.com (Nov 18, 2014)