Seeking Alpha

Dimon: Repurchases not as much of a no-brainer

  • "The stock price is a lot higher," says Jamie Dimon (JPM +0.8%) questioned on the bank's buybacks (was approved for $6B, but has repurchased only about $2.2B). We still think the stock is attractive, adds Dimon, but it's not the "extraordinary value" it was at $33. "We don't buy at just any price." It's "way optimistic" to assume that $6B will be filled out.
  • Added to the higher share price as a reason for slow repurchases is all the cash going towards the bank's legal settlements.
  • Earlier earnings and CC coverage
Comments (5)
  • Good call Dimon. Wait for the next crisis around the corner and plow that money in at the time.
    14 Jan, 11:12 AM Reply Like
  • Yep... I'm staying away from most bank stocks until the next crisis. It may be a while, but it will come. Bankers always screw the pooch!
    14 Jan, 12:18 PM Reply Like
  • So true.
    14 Jan, 03:59 PM Reply Like
  • I don't have JPM among my financial holdings, but this is certainly a smart statement by a bank CEO!
    14 Jan, 03:48 PM Reply Like
  • Long JPM and BX. Both run by financial smarties.
    14 Jan, 04:00 PM Reply Like
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