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JPMorgan Gets First Republic: This 1 Indicator Says Don't Be Too Quick to Buy

First Republic's safe, profitable customers were very attractive to a lot of banks. But does the deal move the needle enough to make JPMorgan Chase a buy?

By Jason Hall – May 1, 2023 at 12:58PM EST

The FDIC took over First Republic Bank (FRC +0.00%), and sold it to JPMorgan Chase (JPM 0.12%) in a deal that came together over the weekend, giving JPMorgan a lot of wealthy (and profitable) new banking relationships. Does the deal make it worth buying? Not so fast, says Motley Fool contributor Jason Hall. In this video, he breaks down the three things investors should know first, and explains why Bank of America (BAC +0.10%) and Wells Fargo (WFC +0.35%) might be more attractive right now. 

*Stock prices used were from the morning of May 1, 2023. The video was published on May 1, 2023.

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About the Author

Jason Hall
Jason Hall is a contributing Motley Fool stock market analyst with more than a decade of experience writing about dividend stocks and long-term investing. He has been with the company since 2012 and previously spent over 10 years in technical sales in the printing and information services industry. Jason also founded and operated a small food manufacturing business.
TMFVelvetHammer
X@thesmattering

Wells Fargo is an advertising partner of The Ascent, a Motley Fool company. JPMorgan Chase is an advertising partner of The Ascent, a Motley Fool company. Bank of America is an advertising partner of The Ascent, a Motley Fool company. Jason Hall has positions in First Republic Bank. The Motley Fool has positions in and recommends Bank of America and JPMorgan Chase. The Motley Fool has a disclosure policy. Jason Hall is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through their link they will earn some extra money that supports their channel. Their opinions remain their own and are unaffected by The Motley Fool. 

Stocks Mentioned

JPMorgan Chase Stock Quote
JPMorgan Chase
NYSE: JPM
$299.91
(-0.11%)-$0.34
Bank of America Stock Quote
Bank of America
NYSE: BAC
$49.85
(+0.02%)+$0.01
Wells Fargo Stock Quote
Wells Fargo
NYSE: WFC
$73.79
(+0.35%)+$0.26

*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.

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