NEW YORK (Reuters) - Jamie Dimon, chief executive officer of JPMorgan Chase & Co <JPM.N>, recently bought 500,000 shares of the company's stock worth more than $25 million, according to a person familiar with the matter.

JPMorgan shares closed at $53.07 on Thursday. The stock has fallen nearly 20 percent this year, in line with the decline of the KBW Bank Stock index <.BKX>.

JPMorgan shares have fallen as the outlook for bank profits has dimmed with expectations of continued low interest rates, higher costs for bad loans, particularly related to energy, and a slow economy.

JPMorgan said last month that its tangible book value, which is its net worth, was $48.13 per share at the end of December.

Dimon's share purchase was earlier reported by The Wall Street Journal.

(Reporting by David Henry in New York; Editing by Matthew Lewis and Leslie Adler)