JPMorgan drops to 49th in Whalen Global Advisors bank rankings

Whalen Global Advisors’ Q4 2026 model put JPMorgan Chase at 49th among 102 banks, with smaller lenders dominating the top of the list. The ranking underscores investor concern about rates, consumer credit and exposure to AI- and private-credit-related risk even as large banks post solid earnings.

Why it matters: - Whalen Global Advisors’ ranking suggests large U.S. banks may look healthier on earnings than on broader balance-sheet and market signals. - The results point to a market split: smaller depositories are outperforming on the model while the biggest banks lag. - The findings also raise fresh questions about credit risk, interest rates and where capital may rotate next.

What happened: - JPMorgan Chase fell to 49th in Whalen Global Advisors’ Q4 2026 ranking of 102 banks. - Toronto Dominion took the No. 1 spot, followed by Bank of Montreal, Flagstar and State Street. - None of the largest U.S. banks landed in the top 10. - The average stock in the 102-bank test group declined 0.56% over the past 200 days. - The ranking was published by Whalen Global Advisors in Estero, Florida.

The details: - Whalen Global Advisors uses a proprietary five-factor model that combines fundamental financial and market measures. - The model is designed to identify strengths and weaknesses that earnings or share-price gains may miss. - JPMorgan had ranked among WGA’s top 10 banks in 2025. - JPMorgan shares have gained about 14% over the past year. - Citigroup gained about 21% over the past year but ranked 81st. - Wells Fargo ranked 27th. - Bank of America ranked 73rd. - Toronto-Dominion gained more than 50% over the past year and trades at about 2.5 times book value. - Whalen Global Advisors said higher rates and bank exposure to AI-related credit and private lending are weighing on the sector.

Between the lines: - The rankings suggest strong quarterly profits may not be enough to offset broader concerns about asset quality and funding conditions. - JPMorgan’s slide to 49th shows that size and share-price performance do not necessarily translate into strength across a wider risk model. - Analyst David Jensen said about 3.7 million ounces of eligible gold inventory were withdrawn in September from JPMorgan’s New York COMEX vaults. - The withdrawals reduced stored inventory and were not a trading loss for JPMorgan. - Jamie Dimon defended the security of gold stored in the U.S. during October remarks at the Economic Club of Chicago. - Whalen said the AI selloff has raised questions about where institutional capital will move next. - Whalen also said energy, consumer staples, real estate and utilities are among the few sectors currently up. - Whalen said the firm exited several large-cap positions in Q3 and has since taken short positions in some consumer lenders.

What's next: - Investors will be watching whether credit conditions tighten enough to expose weakness beneath headline earnings. - Whalen Global Advisors’ full Q4 2026 analysis of 102 banks is available through The Institutional Risk Analyst premium service. - Media can request a courtesy copy of the WGA Bank Top 50 at info@rcwhalen.com. - Whalen Global Advisors continues to publish The Institutional Risk Analyst, The IRA Bank Book, the WGA Bank Top 50 and the WGA Precious Metals Top 25. - Whalen Global Advisors is a Florida-based consulting, publishing and financial analytics firm.