JPMorgan Chase (NYSE:JPM) CEO Jamie Dimon is a widely followed figure in the financial world, so when he talks, people listen. Earlier today, he shared his thoughts on the recent banking crisis that saw several banks collapse or come close to doing so. Investors weren’t exactly thrilled by what they heard and sent the stock lower.
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Dimon believes that “there will be repercussions from it for years to come.” However, he doesn’t seem to think it’s as bad as the 2008 financial crisis because it involves fewer players with fewer issues. Furthermore, Dimon noted that regulations need to be better, but policymakers should “avoid knee-jerk, whack-a-mole or politically motivated responses” that could possibly make things worse in the long run.
Although Dimon doesn’t believe the banking crisis benefitted JPMorgan Chase, analysts do. In fact, JPM stock is rated as Moderate Buy based on 11 Buys and four Holds assigned in the past three months. In addition, Wall Street also expects over 20% upside potential, as indicated by the graphic above.