JPMorgan Chase & Co. (NYSE:JPM) Stock Price Up 0.1% on Analyst Upgrade

JPMorgan Chase & Co. (NYSE:JPM) shares shot up 0.1% on Monday 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 $245.01 and last traded at $242.23. 2,601,485 shares traded hands during trading, a decline of 63% from the average session volume of 6,990,800 shares. The stock had previously closed at $242.03.

JPM has been the subject of a number of other research reports. Morgan Stanley lowered shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and lifted their target price for the stock from $220.00 to $224.00 in a report on Monday, September 30th. Robert W. Baird downgraded JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 price objective for the company. in a report on Thursday, November 7th. Keefe, Bruyette & Woods raised their target price on JPMorgan Chase & Co. from $216.00 to $254.00 and gave the stock a “market perform” rating in a report on Tuesday, December 3rd. Truist Financial assumed coverage on JPMorgan Chase & Co. in a research note on Tuesday. They issued a “hold” rating and a $260.00 price target for the company. Finally, Royal Bank of Canada increased their price target on shares of JPMorgan Chase & Co. from $211.00 to $230.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $245.83.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Mizuho Securities Co. Ltd. acquired a new stake in shares of JPMorgan Chase & Co. in the third quarter valued at approximately $25,000. Catalyst Capital Advisors LLC bought a new position in JPMorgan Chase & Co. in the third quarter valued at $27,000. Fairway Wealth LLC acquired a new stake in JPMorgan Chase & Co. in the 2nd quarter valued at $32,000. West Financial Advisors LLC bought a new stake in JPMorgan Chase & Co. during the 3rd quarter worth about $37,000. Finally, New England Capital Financial Advisors LLC lifted its position in JPMorgan Chase & Co. by 38.5% during the 3rd quarter. New England Capital Financial Advisors LLC now owns 180 shares of the financial services provider’s stock worth $38,000 after buying an additional 50 shares in the last quarter. 71.55% of the stock is currently owned by institutional investors.

JPMorgan Chase & Co. Stock Performance

The company has a market capitalization of $684.58 billion, a price-to-earnings ratio of 13.53, a P/E/G ratio of 3.54 and a beta of 1.11. The stock’s 50 day moving average price is $240.46 and its 200 day moving average price is $221.95. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.27.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings results on Friday, October 11th. The financial services provider reported $4.37 EPS for the quarter, beating the consensus estimate of $4.02 by $0.35. The firm 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 business’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.33 earnings per share. Analysts expect that JPMorgan Chase & Co. will post 17.62 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

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

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.