Barclays Raises JPMorgan Chase & Co. (NYSE:JPM) Price Target to $257.00

JPMorgan Chase & Co. (NYSE:JPM) had its price target boosted by Barclays from $217.00 to $257.00 in a research report released on Monday, Benzinga reports. The firm currently has an overweight rating on the financial services provider’s stock.

A number of other research analysts have also weighed in on the stock. Daiwa Capital Markets dropped their price objective 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. Oppenheimer raised their price objective on shares of JPMorgan Chase & Co. from $221.00 to $234.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. Piper Sandler raised their price objective on shares of JPMorgan Chase & Co. from $220.00 to $230.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. Royal Bank of Canada raised their price objective on shares of JPMorgan Chase & Co. from $211.00 to $230.00 and gave the company an “outperform” rating in a research note on Monday. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $235.00 price objective on shares of JPMorgan Chase & Co. in a research note on Tuesday, September 3rd. Nine investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, JPMorgan Chase & Co. presently has an average rating of “Moderate Buy” and a consensus target price of $217.94.

JPMorgan Chase & Co. Stock Up 0.6 %

Shares of NYSE JPM opened at $223.64 on Monday. The firm has a market cap of $642.22 billion, a PE ratio of 12.47, a P/E/G ratio of 3.28 and a beta of 1.11. JPMorgan Chase & Co. has a 12-month low of $135.19 and a 12-month high of $225.48. The company’s fifty day simple moving average is $213.22 and its 200 day simple moving average is $204.17. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 1.24.

JPMorgan Chase & Co. (NYSE:JPM) last issued its earnings results 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 business had revenue of $43.32 billion for the quarter, compared to analyst estimates of $41.43 billion. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.26%. JPMorgan Chase & Co.’s revenue was up 6.5% on a year-over-year basis. During the same period in the prior year, the firm earned $4.33 earnings per share. As a group, sell-side analysts forecast that JPMorgan Chase & Co. will post 16.75 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 4th will be paid a $1.25 dividend. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date is Friday, October 4th. This represents a $5.00 annualized dividend and a dividend yield of 2.24%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 27.89%.

Hedge Funds Weigh In On JPMorgan Chase & Co.

Large investors have recently modified their holdings of the business. Retirement Group LLC grew its stake in JPMorgan Chase & Co. by 227.1% during the first quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 109 shares in the last quarter. Fairway Wealth LLC purchased a new position in JPMorgan Chase & Co. during the second quarter valued at approximately $32,000. Richardson Capital Management LLC purchased a new position in JPMorgan Chase & Co. during the first quarter valued at approximately $34,000. Anfield Capital Management LLC purchased a new position in JPMorgan Chase & Co. during the second quarter valued at approximately $34,000. Finally, Davidson Capital Management Inc. purchased a new position in JPMorgan Chase & Co. during the first quarter valued at approximately $37,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

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.