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,
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.
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Bank chiefs should brace for a barrage of questions about economic uncertainty, if JPMorgan Chase's experience after releasing fourth-quarter results is any indication. Double-digit increases in loans and profits were not enough to stave off questions about the odds of recession, energy risks and adequacy of reserves.
January 14 -
Results from the largest U.S. bank, and the first major player to report on its latest quarter, showed widespread revenue strains and only added to questions about the industry's growth prospects in the near future.
October 13 -
It's hard to decide which is more surprising: that the largest U.S. bank has almost abandoned the business of making home loans insured by the Federal Housing Administration, that lots of big banks could be right behind it, or that the FHA might not even need to care.
September 28 -
Competitors have been spreading rumors that JPMorgan Chase is quitting the field, the bank's CEO said in a wide-ranging question-and-answer session that touched on Bitcoin, China, and his retirement plans.
September 18 -
Banks better get ready for a quick, steep increase in deposit costs after the Fed raises rates. Technology, new regulations and other factors have changed the slower-paced retail-banking game of old, JPMorgan Chase executives say.
July 14 -
Shareholders of JPMorgan Chase voted in favor of Jamie Dimon keeping the chairman and chief executive roles. They likely fear Dimon would retire if stripped of one of the jobs.
May 19
