Investors who owned stocks since 2016 generally experienced some big gains. In fact, the SPDR S&P 500 (NYSE: SPY) total return in the past five years is 121.6%. But there’s no question some big-name stocks didn’t keep pace along the way.
JPMorgan’s Big Run: One market leader of the past five years was JPMorgan Chase & Co. (NYSE: JPM).
Big banks were crushed during the worst of the financial crisis in 2008 and 2009. JPMorgan did its part in helping mitigate the economic fallout by buying up the assets of failed financial institutions Bear Stearns and Washington Mutual in 2008.
JPMorgan started 2016 trading at around $64. Within months, the stock hit its low point of the past five years, dropping down to $52.50 following a bout of early-2016 volatility related to concerns over an economic slowdown in China.
JPMorgan made it back above $60 by mid-year and was once again trading at all-time highs before the calendar turned to 2017. The stock made it to $119 by early 2018 before stalling out for roughly a year and a half.
JPMorgan In 2021, Beyond: JPMorgan shares broke out to the upside again in the closing months of 2019, surging to a new all-time high of $141.10 before the COVID-19 sell-off pushed the stock back down to $76.91 in early 2020.
Since then, JPMorgan shares have regained all of their lost ground, recently hitting a fresh all-time high of $142.71.
JPMorgan investors who held on through a volatile few years were rewarded for their patience, and $1,000 worth of JPMorgan bought in 2016 would be worth about $2,818 today, assuming reinvested dividends.
Looking ahead, analysts expect JPMorgan to take a breather in the next 12 months. The average price target among the 25 analysts covering the stock is $140, suggesting 1.5% downside from current levels.
JPMorgan Chase CEO Jamie Dimon. Photo by Dustin Blitchok.
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