JPMorgan Chase's Tangible Book Value, Dividend Growth to Drive Outperformance, RBC Says

MT Newswires Live

May 20, 2025

JPMorgan Chase's (JPM) remains focused on increasing its tangible book value and dividend growth, driving outperformance against its peers, RBC Capital Markets said Monday in a report.

"We see shareholder gains being driven more from tangible book value and dividends per share growth rather than through further valuation expansion," RBC said.

RBC cut its earnings estimates to $17.75 a share from $18.05 in 2025 and to $18.50 from $18.90 for 2026, citing reduced investment banking and trading revenue due to geopolitical and macroeconomic uncertainties.

RBC raised its price target on JPMorgan stock to $285 from $255 and maintained its outperform rating.

JPMorgan shares rose 0.5% in recent trading Tuesday.

Price: 266.07, Change: +1.19, Percent Change: +0.45

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