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JPMorgan Chase & Co. (JPM): A Quick Rundown

J.P. Morgan Chase: a whale of a bankBig bank JPMorgan Chase & Co. (NYSE:JPM) is on the rise once again this morning, with a 0.9% rise just after trading began. Not to mention the bank’s stock is up 1.99% so far this week. JPM has been enjoying some much needed gains in the market despite more than one piece of negative news for its operations in the past week.

Quick rundown
Just to highlight the headwinds that JPMorgan Chase & Co. (NYSE:JPM) faces, here are the latest headlines that may have investors concerned:

Another top executive left the bank last week, bringing the total to eight over the past few years. This gives rise to questions about succession plans and “deep benches.”

Energy rigging in California and Michigan — not something you would normally think of for a bank’s operations, but at least one executive has been called out as lying while under oath about the matter.

Oversight. After the London Whale debacle, many investors cried out for more oversight (as did some regulators), and now they have their chance to demand it once again. Later this month a non-binding vote at the annual shareholders meeting will allow investors to speak up on whether Jamie Dimon’s dual role as CEO and Chairman should be split up.

So with more and more pressure building on Dimon and the bank, how can it be making such a huge run this week?

Outside influences
Half of a week has already gone by and the market is still basking in the afterglow of the Berkshire Hathaway Inc. (NYSE:BRK.A) shareholder-palooza. While generally this would lead to boosts in other bank stocks, JPMorgan Chase & Co. (NYSE:JPM) and more specifically Jamie Dimon, got a big plug from the Great One himself. When asked about the upcoming vote to split Dimon’s role, Buffett gave the CEO his total support, saying that the bank will be run better with Dimon in both roles. He also said that he couldn’t think of a better Chairman and that splitting the two posts would allow the CEO to be replaced much more easily, something that might not be a good thing for the bank.

Elsewhere in the banking sphere, competitor Bank of America Corp (NYSE:BAC)‘s settlement with MBIA Inc. (NYSE:MBI) may also have something to do with JPMorgan Chase & Co. (NYSE:JPM)’s continued rise.Since most of the banks continue to be plagued by lawsuits stemming from the financial crisis, when one is able to settle or dismiss a case, the others are looked at favorably as well. In the case of B of A, the bank made a big offer to the insurer MBIA Inc. (NYSE:MBI) and ducked some much larger payouts than it may have been forced to make had the case gone to trial.