JPMorgan Chase & Co. (NYSE:JPM) Reaches New 12-Month High – Time to Buy?

JPMorgan Chase & Co. (NYSE:JPM)’s stock price reached a new 52-week high on Thursday . The stock traded as high as $272.67 and last traded at $272.45, with a volume of 313939 shares traded. The stock had previously closed at $270.43.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on JPM shares. Truist Financial boosted their target price on shares of JPMorgan Chase & Co. from $260.00 to $268.00 and gave the company a “hold” rating in a research note on Thursday, January 16th. Robert W. Baird downgraded shares of JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 target price on the stock. in a research note on Thursday, November 7th. Piper Sandler raised their target price on shares of JPMorgan Chase & Co. from $240.00 to $275.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 3rd. Royal Bank of Canada boosted their price target on JPMorgan Chase & Co. from $211.00 to $230.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Finally, Oppenheimer downgraded JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 20th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $251.78.

JPMorgan Chase & Co. Price Performance

The firm has a market capitalization of $771.76 billion, a PE ratio of 13.89, a P/E/G ratio of 2.87 and a beta of 1.12. The firm’s fifty day moving average price is $249.03 and its 200 day moving average price is $229.59. The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.24.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.03 by $0.78. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. The company had revenue of $42.77 billion during the quarter, compared to the consensus estimate of $41.90 billion. During the same period in the previous year, the company posted $3.04 earnings per share. JPMorgan Chase & Co.’s revenue for the quarter was up 10.9% on a year-over-year basis. As a group, equities analysts forecast that JPMorgan Chase & Co. will post 17.82 earnings per share for the current year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Monday, January 6th were paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 1.82%. The ex-dividend date of this dividend was Monday, January 6th. JPMorgan Chase & Co.’s payout ratio is 25.33%.

Insider Buying and Selling at JPMorgan Chase & Co.

In related news, General Counsel Stacey Friedman sold 3,303 shares of the company’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $253.94, for a total transaction of $838,763.82. Following the completion of the sale, the general counsel now owns 47,620 shares of the company’s stock, valued at approximately $12,092,622.80. This represents a 6.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.79% of the company’s stock.

Hedge Funds Weigh In On JPMorgan Chase & Co.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in JPM. Charles Schwab Investment Management Inc. grew its stake in shares of JPMorgan Chase & Co. by 0.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 20,103,063 shares of the financial services provider’s stock valued at $4,818,905,000 after buying an additional 71,122 shares during the period. James Reed Financial Services Inc. purchased a new position in JPMorgan Chase & Co. in the fourth quarter worth approximately $324,000. Tacita Capital Inc increased its stake in JPMorgan Chase & Co. by 7.5% during the fourth quarter. Tacita Capital Inc now owns 2,507 shares of the financial services provider’s stock worth $601,000 after acquiring an additional 175 shares during the last quarter. WMG Financial Advisors LLC raised its position in JPMorgan Chase & Co. by 5.4% in the fourth quarter. WMG Financial Advisors LLC now owns 2,834 shares of the financial services provider’s stock valued at $679,000 after purchasing an additional 146 shares during the period. Finally, Steward Partners Investment Advisory LLC lifted its stake in shares of JPMorgan Chase & Co. by 3.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 636,912 shares of the financial services provider’s stock valued at $152,674,000 after purchasing an additional 20,088 shares during the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. The firm offers a range of investment banking products and services in all capital markets, including advising on corporate strategy and structure, capital raising in equity and debt markets, risk management, market making in cash securities and derivative instruments, and brokerage and research.