JPMorgan Chase & Co. (NYSE:JPM) Stock Price Up 1% – Here’s What Happened

JPMorgan Chase & Co. (NYSE:JPM)’s share price traded up 1% during mid-day trading on Thursday . The stock traded as high as $243.80 and last traded at $243.17. 1,679,462 shares changed hands during mid-day trading, a decline of 81% from the average session volume of 9,067,334 shares. The stock had previously closed at $240.78.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on JPM shares. Daiwa Capital Markets lowered their price objective on JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating for the company 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 stock a “neutral” rating in a report on Tuesday. Evercore ISI raised their price objective on JPMorgan Chase & Co. from $217.00 to $230.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Wells Fargo & Company increased their target price on shares of JPMorgan Chase & Co. from $240.00 to $270.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $235.00 price target on shares of JPMorgan Chase & Co. in a research report on Tuesday, September 3rd. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $229.31.

JPMorgan Chase & Co. Stock Performance

The business has a 50 day simple moving average of $221.48 and a 200 day simple moving average of $211.13. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.27. The company has a market capitalization of $689.76 billion, a PE ratio of 13.58, a PEG ratio of 3.53 and a beta of 1.10.

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 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 company’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period last year, the business posted $4.33 earnings per share. Equities research analysts predict that JPMorgan Chase & Co. will post 17.62 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 4th were paid a $1.25 dividend. This is an increase 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 is currently 27.82%.

Institutional Investors Weigh In On JPMorgan Chase & Co.

A number of large investors have recently made changes to their positions in JPM. Accredited Investors Inc. raised its holdings in JPMorgan Chase & Co. by 4.9% in the 2nd quarter. Accredited Investors Inc. now owns 14,174 shares of the financial services provider’s stock valued at $2,867,000 after buying an additional 667 shares during the period. Sunburst Financial Group LLC grew its stake in shares of JPMorgan Chase & Co. by 5.0% in the second quarter. Sunburst Financial Group LLC now owns 5,651 shares of the financial services provider’s stock worth $1,143,000 after acquiring an additional 268 shares in the last quarter. Sageworth Trust Co increased its position in shares of JPMorgan Chase & Co. by 37.9% during the third quarter. Sageworth Trust Co now owns 2,860 shares of the financial services provider’s stock worth $603,000 after acquiring an additional 786 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of JPMorgan Chase & Co. by 16.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 692,809 shares of the financial services provider’s stock valued at $143,594,000 after acquiring an additional 95,461 shares in the last quarter. Finally, Czech National Bank boosted its holdings in JPMorgan Chase & Co. by 7.6% in the second quarter. Czech National Bank now owns 547,224 shares of the financial services provider’s stock valued at $110,682,000 after purchasing an additional 38,548 shares during the period. 71.55% of the stock is currently 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.