JPMorgan Chase & Co. (NYSE:JPM) Trading Up 1.4% on Analyst Upgrade

JPMorgan Chase & Co. (NYSE:JPM) shares shot up 1.4% during trading on Tuesday after Bank of America raised their price target on the stock from $260.00 to $280.00. Bank of America currently has a buy rating on the stock. JPMorgan Chase & Co. traded as high as $244.25 and last traded at $244.19. 2,321,961 shares were traded during trading, a decline of 70% from the average session volume of 7,626,502 shares. The stock had previously closed at $240.85.

Several other equities analysts also recently weighed in on JPM. Wolfe Research raised JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 target price for the company in a research report on Friday, January 3rd. Baird R W downgraded shares of JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 7th. Evercore ISI increased their target price on shares of JPMorgan Chase & Co. from $217.00 to $230.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Citigroup upped their price objective on JPMorgan Chase & Co. from $215.00 to $250.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th. Finally, Barclays upped their price target on JPMorgan Chase & Co. from $257.00 to $304.00 and gave the stock an “overweight” rating in a report on Monday. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $245.83.

Institutional Investors Weigh In On JPMorgan Chase & Co.

A number of institutional investors and hedge funds have recently made changes to their positions in JPM. Financial Avengers Inc. raised its stake in shares of JPMorgan Chase & Co. by 5.2% during the third quarter. Financial Avengers Inc. now owns 868 shares of the financial services provider’s stock worth $183,000 after purchasing an additional 43 shares during the last quarter. One Charles Private Wealth Services LLC raised its holdings in JPMorgan Chase & Co. by 0.4% during the third quarter. One Charles Private Wealth Services LLC now owns 12,179 shares of the financial services provider’s stock worth $2,568,000 after purchasing an additional 44 shares in the last quarter. Henrickson Nauta Wealth Advisors Inc. boosted its holdings in JPMorgan Chase & Co. by 1.3% in the 3rd quarter. Henrickson Nauta Wealth Advisors Inc. now owns 3,436 shares of the financial services provider’s stock valued at $725,000 after purchasing an additional 45 shares in the last quarter. Sunburst Financial Group LLC increased its position in JPMorgan Chase & Co. by 0.8% during the 3rd quarter. Sunburst Financial Group LLC now owns 5,696 shares of the financial services provider’s stock worth $1,201,000 after purchasing an additional 45 shares during the period. Finally, West Wealth Group LLC lifted its holdings in shares of JPMorgan Chase & Co. by 3.6% in the 3rd quarter. West Wealth Group LLC now owns 1,327 shares of the financial services provider’s stock valued at $280,000 after buying an additional 46 shares during the period. 71.55% of the stock is owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Stock Performance

The stock has a 50 day moving average of $240.46 and a two-hundred day moving average of $221.95. The stock has a market capitalization of $684.58 billion, a PE 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.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.02 by $0.35. The business had revenue of $43.32 billion during the quarter, compared to the consensus estimate of $41.43 billion. JPMorgan Chase & Co. had a net margin of 19.64% and a return on equity of 16.71%. The business’s revenue was up 6.5% compared to the same quarter last year. During the same quarter last year, the firm posted $4.33 EPS. Research analysts expect that JPMorgan Chase & Co. will post 17.62 EPS 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. Investors of record on Monday, January 6th will be paid a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 2.06%. The ex-dividend date of this dividend is Monday, January 6th. JPMorgan Chase & Co.’s payout ratio is currently 27.82%.

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.