JPM - DD And JJ: Two Preferred Stocks Available From JPMorgan Chase

2024-03-13 10:00:00 ET

Summary

• JPMorgan Chase is the largest bank in the US, with over $3.4 trillion in assets and a global market cap ranking of #1.
• The bank's preferred stocks offer non-cumulative payments, but the Tangible Book Value and balance sheet of JPMorgan Chase support the safety of preferred stock investments.
• When compared against other banks and financial issuers, the JPM yields do not treat investors as well. Both only rate a Hold.

Introduction

JPMorgan Chase ( JPM ) is the largest bank in the country, holding over $3.4 trillion in assets. Globally, they rank #1 based on market-cap by a large margin. That should give comfort to preferred stockholders that their investments are safe from default on principal payments. The fact that common stock dividends have to stop if any of the many preferred stocks offered by JPM skips a payment, in my opinion, offsets the fact that payments are non-cumulative. While those are great pluses, investors can do better owning preferreds from other safe banks and financial issuers. ...

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