By David Henry

NEW YORK (Reuters) – Concerned that JPMorgan Chase & Co (NYSE:) might be starting to lose its profit advantage over competitors, analysts and investors are lining up questions for long-time CEO Jamie Dimon and other executives appearing at the bank’s first investor conference in two years on Monday.

After JPMorgan shocked investors with its January revelation that 2022 cost increases would be $6 billion or 8% respectively, the meeting was set up. However, JPMorgan did not forecast revenue growth or convincing arguments about how new business investment will pay off.

Investors were again shocked by the amount of excess capital that the bank had lost during the first quarter due to market risks and unrealized losses in its bond portfolio. The bank also anticipated increased capital requirements from regulators.

JPMorgan stock has fallen 24% since Wednesday. This compares to a 20% decline in bank stocks during the same period.

Analysts worry that JPMorgan has become complacent as the largest lender in the country.

“To what extent has JPM restrained on its laurels?” Wells Fargo Mike Mayo, analyst at NYSE: asked for this question in a letter.

Mayo noted that JPMorgan still remains the “best-in class”. The bank is a leader in capital markets and investment banking. It has also been able to produce superior growth, operational efficiency, and returns ever since the financial crisis. Its shares are still valued at premium to those of other banks.

Monday’s New York meeting starts at 6 am EDT. Slides that accompany executive presentations will be released. It will take place between 8 and 2:30 pm EDT.

Analysts will immediately search for any change in the outlook of the bank for net interest, fee income, expenses and profit, which is shown by return-on-tangible common equity.

According to Jason Goldberg, analyst of BMO Capital Markets, its shares outperformed all other bank stocks in the month that followed the 15 previous investor meetings. Barclays (LON:).

Goldberg stated that the bank can increase its net interest income outlook, show it can achieve its profitability target faster, or demonstrate that new spending is going to pay off. This could help boost its shares.

The themes of Dimon’s April Investor Letter and recent public appearances by Dimon are likely to be reflected in the presentations of executives.

Dimon stated that JPMorgan would not cut spending on business investment to please investors in the short term. According to Dimon, it must also spend in order to compete with giant fintech companies and other financial businesses.

Dimon might discuss the capital issue. What he stated in his April letter was a dilemma in managing capital for JPMorgan’s large and complex bank. Dimon will debate whether to limit its growth to maintain a higher return or to accept a lower return to allow it to grow.

Dimon is also expected to be pushed by investors on inflation and recession risk, market volatility and loan growth, and defaults of borrower.