Dimon: Repurchases not as much of a no-brainer

|By:, SA News Editor

"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