JPMorgan Chase & Co. (NYSE:JPM) Stock Price Up 0.3% After Dividend Announcement

JPMorgan Chase & Co. (NYSE:JPM)’s share price was up 0.3% on Tuesday following a dividend announcement from the company. The stock traded as high as $209.13 and last traded at $208.54. Approximately 1,720,028 shares traded hands during trading, a decline of 81% from the average daily volume of 9,109,649 shares. The stock had previously closed at $207.86.

The newly announced dividend which will be paid on Thursday, October 31st. Investors of record on Friday, October 4th will be paid a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date is Friday, October 4th. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 25.66%.

Analysts Set New Price Targets

JPM has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods lifted their target price on JPMorgan Chase & Co. from $209.00 to $211.00 and gave the stock a “market perform” rating in a report on Tuesday, July 9th. BMO Capital Markets lifted their price objective on shares of JPMorgan Chase & Co. from $195.00 to $205.00 and gave the company a “market perform” rating in a research note on Thursday, July 11th. Wolfe Research lowered shares of JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a research note on Monday, July 8th. Barclays raised their price target on shares of JPMorgan Chase & Co. from $212.00 to $217.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. Finally, Jefferies Financial Group upped their price objective on shares of JPMorgan Chase & Co. from $230.00 to $239.00 and gave the company a “buy” rating in a report on Wednesday, July 3rd. Eight analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $211.06.

JPMorgan Chase & Co. Stock Performance

The company has a market cap of $604.43 billion, a PE ratio of 11.72, a PEG ratio of 2.33 and a beta of 1.12. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 1.24. The company has a 50-day moving average of $211.43 and a 200-day moving average of $201.40.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings data on Friday, July 12th. The financial services provider reported $6.12 earnings per share for the quarter, beating the consensus estimate of $4.19 by $1.93. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. The business had revenue of $50.80 billion for the quarter, compared to analysts’ expectations of $42.23 billion. During the same period last year, the business earned $4.37 EPS. As a group, analysts anticipate that JPMorgan Chase & Co. will post 16.78 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Retirement Group LLC increased its position in shares of 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 during the last quarter. Fairway Wealth LLC bought a new stake in shares of JPMorgan Chase & Co. during the 2nd quarter worth $32,000. Richardson Capital Management LLC purchased a new position in shares of JPMorgan Chase & Co. in the 1st quarter worth about $34,000. Anfield Capital Management LLC bought a new position in JPMorgan Chase & Co. during the second quarter valued at about $34,000. Finally, Davidson Capital Management Inc. purchased a new stake in JPMorgan Chase & Co. during the first quarter worth about $37,000. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

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.