JPMorgan Chase Chief Executive Officer Jamie Dimon bought 500,000 shares of the bank’s stock on Thursday, a person familiar with the decision said.
Dimon paid about $26 million for the shares, the person said, asking not to be identified discussing the purchase before its public disclosure. JPMorgan shares have tumbled 20% this year through the end of regular trading in New York Thursday amid a global selloff in equities, led by financial stocks.
JPMorgan shares were up 1.8% to $54 at 5:13 p.m. in extended trading. The Wall Street Journal reported the purchase earlier Thursday.