Wells Fargo & Company Forecasts Strong Price Appreciation for JPMorgan Chase & Co. (NYSE:JPM) Stock

JPMorgan Chase & Co. (NYSE:JPM) had its target price increased by Wells Fargo & Company from $240.00 to $270.00 in a research report sent to investors on Friday,Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

A number of other research firms have also issued reports on JPM. Oppenheimer lifted their target price on JPMorgan Chase & Co. from $232.00 to $241.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. Royal Bank of Canada raised their target price on shares of JPMorgan Chase & Co. from $211.00 to $230.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $235.00 price target on shares of JPMorgan Chase & Co. in a report on Tuesday, September 3rd. Evercore ISI raised their price objective on JPMorgan Chase & Co. from $217.00 to $230.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Finally, Baird R W lowered JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 7th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $227.13.

JPMorgan Chase & Co. Stock Performance

JPM stock opened at $245.18 on Friday. JPMorgan Chase & Co. has a fifty-two week low of $151.92 and a fifty-two week high of $248.00. The company has a market capitalization of $690.27 billion, a P/E ratio of 13.64, a PEG ratio of 3.56 and a beta of 1.10. The company has a 50-day simple moving average of $220.06 and a 200 day simple moving average of $210.55. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.27.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Friday, October 11th. The financial services provider reported $4.37 EPS for the quarter, topping the consensus estimate of $4.02 by $0.35. The firm had revenue of $43.32 billion for the quarter, compared to analysts’ expectations of $41.43 billion. JPMorgan Chase & Co. had a return on equity of 16.71% and a net margin of 19.64%. The firm’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.33 earnings per share. Sell-side analysts predict that JPMorgan Chase & Co. will post 17.62 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 4th were issued a dividend of $1.25 per share. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. This represents a $5.00 annualized dividend and a yield of 2.04%. The ex-dividend date of this dividend was Friday, October 4th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 27.82%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Mizuho Securities Co. Ltd. acquired a new position in shares of JPMorgan Chase & Co. during the third quarter worth approximately $25,000. Catalyst Capital Advisors LLC acquired a new stake in JPMorgan Chase & Co. during the 3rd quarter valued at $27,000. Fairway Wealth LLC bought a new position in JPMorgan Chase & Co. in the 2nd quarter valued at $32,000. Anfield Capital Management LLC acquired a new position in JPMorgan Chase & Co. in the second quarter worth $34,000. Finally, West Financial Advisors LLC bought a new position in JPMorgan Chase & Co. in the 3rd quarter worth approximately $37,000. Institutional investors and hedge funds own 71.55% of the company’s stock.

About JPMorgan Chase & Co.

JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit, investment and lending products, cash management, and payments and services; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.