Investors who owned stocks in the 2010s generally experienced some big gains. In fact, the SPDR S&P 500 (NYSE: SPY) total return for the decade was 250.5%. But there’s no question some big-name stocks didn’t keep pace along the way.
JPMorgan’s Big Decade
One market leader of the past decade was big bank JPMorgan Chase & Co. (NYSE: JPM).
JPMorgan and other U.S. banks were hit hard during the financial crisis in 2008 and 2009. But JPMorgan was actually part of the solution during the crisis, buying up the assets of Bear Stearns and Washington Mutual in 2008.
JPMorgan started the 2010s trading at around $42.85. The early years of the decade were difficult for bank stocks. JPMorgan shares hit their low point of the 2010s during the Eurozone debt crisis in 2011, dropping as low as $27.85.
By early 2013, JPMorgan was back above $50 and making new all-time highs. The rally continued mostly interrupted until the big bank hit $119.33 in early 2018.
JPMorgan In 2020 And Beyond
After two years of trading in a range between $90 and $120, JPMorgan shares broke out to the upside in the closing months of 2019, surging to a new all-time high of $141 to close out the year.
JPMorgan investors that held on through a volatile decade were rewarded for their patience, and $100 worth of JPMorgan stock bought in 2010 would be worth about $391 today, assuming reinvested dividends.
Looking ahead, analysts expect additional upside for JPMorgan may be hard to come by in 2020. The average price target among the 23 analysts covering the stock is $140, suggesting 2.9% upside from current levels.
Those gains could start as soon as Tuesday when JPMorgan reports fourth-quarter earnings before the market open.
JPMorgan Chase CEO Jamie Dimon speaks at the Charles H. Wright Museum of African American History in Detroit. Benzinga file photo by Dustin Blitchok.