JPMorgan Chase & Co. (NYSE:JPM) Trading Up 1.6% – Here’s Why

JPMorgan Chase & Co. (NYSE:JPM) shares were up 1.6% during mid-day trading on Wednesday . The company traded as high as $242.49 and last traded at $242.31. Approximately 3,729,092 shares were traded during trading, a decline of 59% from the average daily volume of 9,081,782 shares. The stock had previously closed at $238.39.

Analysts Set New Price Targets

A number of analysts have recently commented on JPM shares. Keefe, Bruyette & Woods upped their price target on JPMorgan Chase & Co. from $216.00 to $254.00 and gave the company a “market perform” rating in a research note on Tuesday, December 3rd. Oppenheimer downgraded shares of JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 20th. Daiwa Capital Markets reduced their price target on shares of JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating on the stock in a research report on Thursday, October 10th. Citigroup upped their price objective on shares of JPMorgan Chase & Co. from $215.00 to $250.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $235.00 target price on shares of JPMorgan Chase & Co. in a report on Tuesday, September 3rd. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $234.81.

JPMorgan Chase & Co. Trading Up 0.3 %

The firm has a market cap of $684.52 billion, a price-to-earnings ratio of 13.53, a P/E/G ratio of 3.54 and a beta of 1.11. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.89 and a quick ratio of 0.89. The business has a 50-day moving average of $237.75 and a 200-day moving average of $219.08.

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

JPMorgan Chase & Co. Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, January 6th will be given a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date of this dividend is Monday, January 6th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 27.82%.

Institutional Investors Weigh In On JPMorgan Chase & Co.

Several hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its holdings in shares of JPMorgan Chase & Co. by 7.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,450,775 shares of the financial services provider’s stock worth $938,491,000 after buying an additional 319,730 shares during the period. Independent Solutions Wealth Management LLC lifted its holdings in shares of JPMorgan Chase & Co. by 3.2% during the third quarter. Independent Solutions Wealth Management LLC now owns 8,862 shares of the financial services provider’s stock worth $1,869,000 after buying an additional 275 shares in the last quarter. SMART Wealth LLC boosted its position in shares of JPMorgan Chase & Co. by 171.2% in the third quarter. SMART Wealth LLC now owns 3,938 shares of the financial services provider’s stock valued at $830,000 after acquiring an additional 2,486 shares during the period. Legacy Wealth Management LLC MS increased its position in JPMorgan Chase & Co. by 3.9% during the third quarter. Legacy Wealth Management LLC MS now owns 13,168 shares of the financial services provider’s stock worth $2,777,000 after acquiring an additional 500 shares during the period. Finally, DGS Capital Management LLC acquired a new stake in JPMorgan Chase & Co. in the 3rd quarter worth about $208,000. 71.55% of the stock is currently owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Company Profile

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.