This Underperforming Stock Raised Its Guidance -- Is It a Buy Now?

Amid high levels of inflation, rising interest rates, growing concerns of a recession, and Russia's invasion of Ukraine, the S&P 500 has fallen more than 16% this year, returning a lot of the gains it made in 2021. JPMorgan Chase (NYSE: JPM), the largest bank by assets in the U.S., has fared worse, with its stock down roughly 18.5% this year. Most banks are able to realize more NII when the Federal Reserve raises rates because the yields on more of their assets reprice higher than those of their liabilities such as deposits, widening their margins.