JPMorgan Chase is boosting buybacks even after CEO Jamie Dimon called the stock expensive
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JPMorgan Chase plans to increase share buybacks despite CEO Jamie Dimon's view that the stock is expensive. The bank aims to manage its excess cash reserves, which have grown in anticipation of Basel 3 regulatory requirements.
January 15, 2025 | 9:15 pm
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JPMorgan Chase is increasing share buybacks to manage excess cash reserves, even though CEO Jamie Dimon considers the stock expensive. This decision is influenced by the upcoming Basel 3 regulatory requirements.
The decision to increase buybacks is likely to support JPMorgan's stock price in the short term by reducing the number of shares outstanding, which can increase earnings per share. This move is also a strategic response to manage excess cash reserves in light of Basel 3 requirements, indicating a proactive financial strategy.
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