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JPMorgan Chase & Co. (JPM) is currently trading at a price-to-tangible book (P/TB) ratio of 3.09X, surpassing the industry average of 2.97X. This positions JPMorgan as the largest U.S. bank, yet its shares have declined 2.5% quarter-to-date, underperforming peers such as Bank of America (BAC) and Citigroup (C), which gained 2.7% and 0.9%, respectively.
As of September 30, 2025, JPMorgan reported a total debt of $496.6 billion and cash holdings of $303.4 billion. The company has increased its quarterly dividend by 7% to $1.50 per share and authorized a $50 billion share repurchase program.
Despite external risks, including interest-rate fluctuations and competition from fintech, JPMorgan’s diversified business model, strong profitability, and solid liquidity position it for continued growth, with anticipated net interest income (NII) of nearly $92.2 billion in 2025 amidst evolving market conditions.
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