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Big Banks Led by JPMorgan Set to Return $80 Billion to Investors

  • Fed’s stress tests will determine size of buybacks, dividends
  • Covid halted buybacks in 2020, inflating last year’s capital
The office of JPMorgan Chase & Co. in London.

The office of JPMorgan Chase & Co. in London.

Photographer: Chris Ratcliffe/Bloomberg

US banking giants are poised to return $80 billion to shareholders after this year’s Federal Reserve stress tests, less than last year’s elevated level that followed a pandemic-driven buyback pause. 

JPMorgan Chase & Co. is set to lead the group with $18.9 billion in combined dividends and share buybacks, even as the biggest US lender spends more this year to build out offerings and fend off competition. Bank of America Corp. and Wells Fargo & Co. are expected to return $15.5 billion and $15.3 billion, respectively, according to data compiled by Bloomberg based on estimates provided by analysts at Barclays Plc.