JPMorgan’s Stock Has Taken a Blow. Now Is the Time to Buy.

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Jamie Dimon, CEO and chairman of JPMorgan Chase

Photo Illustration by Barron’s Staff; (Jamie Dimon) Mark Wilson/Getty Images; (reference) Dreamstime (1)

There is a little less swagger than usual at JPMorgan Chase these days, and that’s probably good news for investors.

Shares of the bank, the industry leader in market value and profits, are down 17% this year, to a recent $132, and have trailed those of most peers over the past 12 months. JPMorgan Chase (ticker: JPM) finds itself on the defensive after two consecutive quarterly earnings disappointments that have unsettled investors long used to viewing it as the safest and most dependable big bank.