JPMorgan Chase & Co. (NYSE:JPM) Sets New 12-Month High – Still a Buy?

JPMorgan Chase & Co. (NYSE:JPM)’s stock price reached a new 52-week high during trading on Monday . The company traded as high as $251.00 and last traded at $251.00, with a volume of 14157 shares changing hands. The stock had previously closed at $248.55.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $235.00 price objective on shares of JPMorgan Chase & Co. in a research note on Tuesday, September 3rd. Barclays raised their target price on JPMorgan Chase & Co. from $217.00 to $257.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Oppenheimer downgraded JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 20th. Robert W. Baird downgraded shares of 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. Finally, Baird R W lowered JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 7th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $229.31.

JPMorgan Chase & Co. Stock Up 0.6 %

The company has a market cap of $704.29 billion, a price-to-earnings ratio of 13.83, a price-to-earnings-growth ratio of 3.61 and a beta of 1.10. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.89 and a current ratio of 0.89. The business has a 50-day simple moving average of $223.14 and a 200-day simple moving average of $212.01.

JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results on Friday, October 11th. The financial services provider reported $4.37 EPS for the quarter, topping analysts’ consensus estimates of $4.02 by $0.35. JPMorgan Chase & Co. had a return on equity of 16.71% and a net margin of 19.64%. The business had revenue of $43.32 billion for the quarter, compared to analysts’ expectations of $41.43 billion. During the same quarter in the previous year, the firm earned $4.33 earnings per share. The business’s revenue was up 6.5% compared to the same quarter last year. On average, equities analysts anticipate that JPMorgan Chase & Co. will post 17.62 earnings per share 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. Stockholders of record on Friday, October 4th were given a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date was Friday, October 4th. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s payout ratio is currently 27.82%.

Hedge Funds Weigh In On JPMorgan Chase & Co.

Several institutional investors and hedge funds have recently bought and sold shares of JPM. Mizuho Securities Co. Ltd. purchased a new position in JPMorgan Chase & Co. in the third quarter valued at about $25,000. Catalyst Capital Advisors LLC acquired a new stake in JPMorgan Chase & Co. during the 3rd quarter valued at approximately $27,000. Fairway Wealth LLC purchased a new stake in JPMorgan Chase & Co. during the 2nd quarter worth approximately $32,000. Anfield Capital Management LLC acquired a new position in shares of JPMorgan Chase & Co. in the 2nd quarter valued at approximately $34,000. Finally, West Financial Advisors LLC purchased a new position in shares of JPMorgan Chase & Co. during the 3rd quarter valued at approximately $37,000. Institutional investors and hedge funds own 71.55% of the company’s stock.

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.