JPMorgan Chase & Co. (NYSE:JPM) Now Covered by Truist Financial

Truist Financial initiated coverage on shares of JPMorgan Chase & Co. (NYSE:JPM) in a research report report published on Tuesday,Benzinga reports. The brokerage issued a hold rating and a $260.00 price objective on the financial services provider’s stock.

Several other research analysts have also recently weighed in on the stock. Daiwa Capital Markets lowered their target price on shares of JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating on the stock in a research note on Thursday, October 10th. Morgan Stanley cut shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and raised their price objective for the company from $220.00 to $224.00 in a research report on Monday, September 30th. Barclays upped their target price on shares of JPMorgan Chase & Co. from $257.00 to $304.00 and gave the stock an “overweight” rating in a research report on Monday. Citigroup raised their price target on 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, Wolfe Research upgraded JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 price objective for the company in a report on Friday, January 3rd. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $245.83.

JPMorgan Chase & Co. Stock Up 1.0 %

JPM opened at $243.16 on Tuesday. The firm has a market capitalization of $684.58 billion, a P/E ratio of 13.53, a price-to-earnings-growth ratio of 3.54 and a beta of 1.11. JPMorgan Chase & Co. has a one year low of $164.30 and a one year high of $254.31. The company has a fifty day moving average price of $240.46 and a 200-day moving average price of $221.95. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.89 and a quick ratio of 0.89.

JPMorgan Chase & Co. (NYSE:JPM) last posted 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 business had revenue of $43.32 billion during 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 revenue was up 6.5% on a year-over-year basis. During the same period in the previous year, the business earned $4.33 earnings per share. Equities research analysts expect that JPMorgan Chase & Co. will post 17.62 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders 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 is Monday, January 6th. JPMorgan Chase & Co.’s payout ratio is 27.82%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC bought a new stake in JPMorgan Chase & Co. during the 3rd quarter valued at approximately $1,888,088,000. Fisher Asset Management LLC boosted its position in shares of JPMorgan Chase & Co. by 31.7% during the third quarter. Fisher Asset Management LLC now owns 16,784,272 shares of the financial services provider’s stock valued at $3,539,132,000 after purchasing an additional 4,043,841 shares in the last quarter. Wulff Hansen & CO. grew its stake in JPMorgan Chase & Co. by 19,920.7% in the second quarter. Wulff Hansen & CO. now owns 2,801,503 shares of the financial services provider’s stock worth $566,632,000 after purchasing an additional 2,787,510 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in JPMorgan Chase & Co. by 137.8% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,376,176 shares of the financial services provider’s stock worth $922,760,000 after purchasing an additional 2,535,590 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec lifted its position in JPMorgan Chase & Co. by 93.6% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,692,159 shares of the financial services provider’s stock valued at $567,669,000 after buying an additional 1,301,764 shares during the period. 71.55% of the stock is owned by hedge funds and other institutional investors.

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.