JPMORGAN CHASE & (JPM) Company Report

Investors have sued JPMorgan Chase, Barclays and Fifth Third, accusing them of enabling a “Ponzi-like” fraud at Tricolor by financing, underwriting and securitizing over $230 million of asset-backed notes sold between April 2022 and June 2025.
The complaint alleges audits in 2022 and 2024 uncovered inaccurately reported loan receivables and cash-flow irregularities that banks concealed to avoid losses on warehouse lines.
JPMorgan, Barclays and Fifth Third have each reported nine-figure losses tied to Tricolor exposure, and JPMorgan CEO Jamie Dimon called it “not our finest moment”.
Tricolor filed for Chapter 7 liquidation in September, transitioning from reorganization to liquidation under U.S. Bankruptcy Code.
JPMorgan shares closed around $300.30, roughly 13% below a $344.35 consensus analyst target, highlighting investor concern over potential litigation fallout.

1 day ago

Bloomberg

SmartStop Self Storage REIT reports Q4 2025 results

JPM

Earnings

Debt Issuance

SmartStop reported Q4 net income of $2.8 M ($0.05 per share), up $6.5 M ($0.21 per share) y/y; total revenue was $64.8 M, and FFO as adjusted totaled $32.5 M ($0.55 per share), up $20.9 M and $0.13 per share y/y.
Same-store revenue increased 0.4%, expenses rose 2.0%, leading to a 0.3% decline in NOI; occupancy improved to 92.3%, with annualized rent per occupied sq ft at $20.04 (-0.6%).
For FY2025, revenue reached $249.5 M (+$30.5 M y/y) and FFO as adjusted was $95.5 M ($1.87 per share), up $48.7 M and $0.17 per share; same-store revenue grew 1.6% and FFO/share advanced 10.0%.
On October 31, 2025, SmartStop’s Canadian JVs closed a CAD $160 M term loan at 3.87%, maturing in 2030, to refinance prior borrowings.

3 days ago

Press Release

J.P. Morgan extends $100 M credit facility to Archer Meat Snacks

JPM

Debt Issuance

New Projects/Investments

J.P. Morgan provided a roughly $100 million aggregate credit facility to Archer Meat Snacks to support expanded capacity and category-leading growth.
The financing follows Archer’s November opening of a second Los Angeles facility, doubling annual output to 36 million pounds of meat sticks (over 1 billion mini sticks).
Archer grew 35.9% year-over-year, with meat sticks sales up 57.7%, ranking No. 5 in total U.S. jerky and meat snacks, and is on track for $500 million in sales in 2026.
Available in over 30,000 retail locations and leading as the #1 premium better-for-you jerky brand in MULO, Archer emphasizes clean-label, high-protein offerings.

4 days ago

Press Release

JPMorgan CEO warns markets resemble pre-2008 conditions

JPM

At its investor day, Jamie Dimon cautioned that high asset prices, heavy leveraging and aggressive lending mirror 2005–2007 conditions, potentially setting the stage for a future credit cycle or market meltdown.
He highlighted strains in private credit and earlier high-profile failures, naming subprime auto lender Tricolor and parts maker First Brands as warning signs.
Dimon warned rival banks may be stretching risk to boost net interest income and market performance, suggesting competitors could be taking excessive risks.
He noted that technological disruptions, including AI’s threat to software businesses, could serve as an unexpected shock in the next cycle.

5 days ago

Bloomberg

JPMorgan Chase & Co. provides 2026 company update

JPM

Guidance Update

Dividends

Share Buyback

Record 2025 performance: Revenue $186 B and net income $57 B, marking the tenth consecutive year of growth and a 20% ROTCE.
2026 guidance: Net interest income ex-Markets of ~$95 B; firmwide NII of ~$104.5 B; and adjusted noninterest expenses of ~$105 B.
Financial targets and capital strength: Through-the-cycle ROTCE targeting 17% ; forecasted card NCO rate ~3.4% ; Standardized CET1 ratio 14.6% and total deposits $2.6 T.
Capital deployment: Quarterly dividend increased to $1.50 per share in 4Q25 and $4.2 B of net share buybacks in 2025.

5 days ago

8-K

JPMorgan Chase outlines 2026 outlook at Investor Day

JPM

Guidance Update

New Projects/Investments

Unchanged guidance for 2026 net interest income ex-Markets of $95 billion; markets NII expected at $9.5 billion.
Retail deposit balances to grow low to mid-single digits in 2026, driven by strong account acquisition and slowing yield-seeking outflows.
Technology investment of $19.8 billion in 2026 (+10% y/y), with $600 million of targeted efficiencies to balance modernization and cost discipline.
Accelerated AI adoption: generative AI use cases in production doubled and internal LLM Suite deployed to improve client service and engineer productivity.
Credit outlook remains stable, with the 2026 card net charge-off rate forecast at 3.4%.

5 days ago

Transcript

JPMorgan Chase presents 2026 company update

JPM

Guidance Update

New Projects/Investments

In 2025, each line delivered strong returns: CCB posted 32% ROE, added 10.4 million new card accounts and ~$1.3 trillion in client investment assets; CIB delivered 18% ROE with 12% revenue growth; AWM achieved 40% ROE and $553 billion of net client flows—company-wide EPS rose 12% and ROTCE was 20%.
For 2026, the firm reiterated guidance for $95 billion of NII ex-markets, $9.5 billion of markets NII, and a card net charge-off rate around 3.4%.
Technology and AI investments will increase by $1.2 billion of major project spend, offset by $600 million of efficiencies, while generative AI use cases in production have doubled on the internal LLM Suite, focusing on customer service and developer productivity.
Excess capital remains broadly flat, deployed via organic lending growth, unique assets like Apple Card, higher dividends and share buybacks, with a significant buffer retained; management also urged reforms to align regulatory liquidity metrics with actual collateral values and expects minimal change from the Basel III endgame.

5 days ago

Transcript

JPMorgan Chase outlines 2025 results and 2026 outlook at Investor Day 2026

JPM

Guidance Update

New Projects/Investments

Delivered 12% EPS growth, 11% tangible book value growth, and 20% ROTCE in 2025, marking continued outperformance over peers.
Maintains 2026 NII ex-markets guidance of $95 billion and expects low to mid-single-digit retail deposit growth, driven by strong checking account acquisition.
Plans to invest $19.8 billion in technology (up 10% YoY), shifting focus from infrastructure modernization to application code, data, and AI capabilities.
Doubled generative AI use cases in production, prioritizing customer service automation, personalized client insights, and developer productivity via the internal LLM Suite.
Expects 2026 card net charge-off rate of 3.4%, with Apple Card’s subprime segment comprising about 15% of its portfolio.

5 days ago

Transcript

JPMorgan Chase outlines 2026 financial and operational outlook

JPM

Guidance Update

Dividends

Share Buyback

In 2025, JPMorgan delivered $186 B in revenue (10th straight year of growth) and $57 B in net income, up 8% YoY with EPS +12% YoY.
For 2026, the firm expects net interest income (ex. Markets) of ~$95 B, Markets NII of ~$9.5 B and firmwide NII of ~$104.5 B.
Adjusted expenses for 2026 are projected at ~$105 B, with CCB $45 B, CIB $41 B, AWM $17 B, and Corp $2 B.
Returns remain strong with a 2025 adjusted overhead ratio of 51%, ROTCE of 20%, and guidance for mid-single-digit retail deposit growth and >6% card loan growth in 2026.
Capital deployment from 2022–25 included $56 B in buybacks and a $33 B increase in excess capital, supporting dividends and share repurchases.

5 days ago

Presentation

JPMorgan Chase plans 160+ U.S. branches in 2026

JPM

New Projects/Investments

JPMorgan Chase will open more than 160 new Chase branches across over 30 U.S. states in 2026 as part of a multibillion-dollar expansion.
The rollout builds on a 2024 pledge to open over 500 branches within three years.
The branch buildout is designed to boost deposits and support a target of capturing 15% of U.S. retail deposits, with Chase already in every state except Hawaii and Alaska.
Analysts view the move as evidence that physical branches remain vital for customer acquisition and trust-building despite strong digital banking trends.