JPMorgan Chase & Co. (NYSE:JPM) Plans Dividend Increase – $1.25 Per Share

JPMorgan Chase & Co. (NYSE:JPM) announced a quarterly dividend on Tuesday, September 17th, Wall Street Journal reports. Stockholders of record on Friday, October 4th will be given a dividend of 1.25 per share by the financial services provider on Thursday, October 31st. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date of this dividend is Friday, October 4th. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15.

JPMorgan Chase & Co. has increased its dividend payment by an average of 4.0% annually over the last three years and has raised its dividend annually for the last 14 consecutive years. JPMorgan Chase & Co. has a dividend payout ratio of 29.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect JPMorgan Chase & Co. to earn $16.84 per share next year, which means the company should continue to be able to cover its $5.00 annual dividend with an expected future payout ratio of 29.7%.

JPMorgan Chase & Co. Trading Up 0.1 %

JPMorgan Chase & Co. stock opened at $207.24 on Thursday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.91 and a current ratio of 0.91. The stock has a market cap of $595.12 billion, a PE ratio of 11.56, a price-to-earnings-growth ratio of 2.39 and a beta of 1.12. The stock has a 50-day moving average of $211.39 and a two-hundred day moving average of $202.88. JPMorgan Chase & Co. has a one year low of $135.19 and a one year high of $225.48.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data on Friday, July 12th. The financial services provider reported $6.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.19 by $1.93. The firm had revenue of $50.80 billion for the quarter, compared to the consensus estimate of $42.23 billion. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.26%. During the same quarter in the prior year, the company posted $4.37 earnings per share. On average, research analysts anticipate that JPMorgan Chase & Co. will post 16.72 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently commented on JPM. Jefferies Financial Group lifted their price objective on shares of JPMorgan Chase & Co. from $230.00 to $239.00 and gave the stock a “buy” rating in a research note on Wednesday, July 3rd. Morgan Stanley cut JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and lifted their price target for the stock from $220.00 to $224.00 in a research report on Monday. Evercore ISI increased their price objective on JPMorgan Chase & Co. from $210.00 to $211.00 and gave the company an “outperform” rating in a report on Monday, July 15th. Wolfe Research downgraded JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a report on Monday, July 8th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $235.00 price target on shares of JPMorgan Chase & Co. in a report on Tuesday, September 3rd. Nine equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $212.13.

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.