If You Invested $1,000 In JPM When Chase Manhattan And J.P. Morgan Merged, Here's How Much You'd Have Now

One of the largest banks in the U.S. got even bigger in 2000 with a huge acquisition. The deal combined two well-known financial names to create the second-largest bank in the U.S. at the time.

The Acquisition: On Sept. 13, 2000, Chase Manhattan announced it would acquire J.P. Morgan & Company. The deal price was around $30.9 billion at the time and took Chase from the third-largest bank in the U.S. to the second position based on assets.

The combined companies had assets of $650 billion at the time, trailing only Citigroup Inc (NYSE: C). The deal closed in December 2000.

Today, the company trades as JPMorgan Chase & Co (NYSE: JPM) and is the largest bank in the U.S. based on assets under management.

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Investing $1,000: A major acquisition or merger such as the one placed between Chase and JPMorgan can serve as a catalyst for future growth.

Investing $1,000 in JPMorgan & Company on Sept. 14, the day after the deal was announced, could have bought 19.23 shares of the company.

The 19.23 shares would be worth $3,130.84 today, based on a current share price of $162.81 for JPM. 

JPM shares have traded between $95.24 and $171.51 over the last 52 weeks.

Investing $1,000 in JPM shares based on the acquisition would have generated a return of 213% over 21 years, for an average of 10.1% annually. The return does not include dividends.

A dividend-adjusted purchase in JPM shares would be worth $5,996.29 today.

Photo: Courtesy JPMorgan Chase