JPMorgan Chase & Co. (NYSE:JPM) Stock Price Up 0.3% – Here’s What Happened

JPMorgan Chase & Co. (NYSE:JPM)’s share price rose 0.3% during mid-day trading on Tuesday . The stock traded as high as $267.33 and last traded at $266.67. Approximately 1,680,292 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 10,601,707 shares. The stock had previously closed at $265.85.

Analyst Ratings Changes

JPM has been the subject of several research analyst reports. Truist Financial upped their target price on shares of JPMorgan Chase & Co. from $260.00 to $268.00 and gave the company a “hold” rating in a report on Thursday, January 16th. Bank of America upped their price target on shares of JPMorgan Chase & Co. from $260.00 to $280.00 and gave the company a “buy” rating in a research report on Tuesday, January 7th. Robert W. Baird downgraded shares of JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 price target for the company. in a research report on Thursday, November 7th. Royal Bank of Canada upped their price target on shares of JPMorgan Chase & Co. from $211.00 to $230.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Finally, Baird R W downgraded shares of JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, JPMorgan Chase & Co. presently has a consensus rating of “Hold” and a consensus target price of $251.78.

JPMorgan Chase & Co. Stock Performance

The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.24. The firm has a market capitalization of $751.53 billion, a price-to-earnings ratio of 13.52, a PEG ratio of 2.83 and a beta of 1.11. The stock’s 50 day moving average price is $246.08 and its two-hundred day moving average price is $226.92.

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

JPMorgan Chase & Co. Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, January 6th will be paid a $1.25 dividend. The ex-dividend date of this dividend is Monday, January 6th. This represents a $5.00 dividend on an annualized basis and a yield of 1.87%. JPMorgan Chase & Co.’s payout ratio is 25.33%.

Insider Activity at JPMorgan Chase & Co.

In related news, General Counsel Stacey Friedman sold 3,303 shares of the stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $253.94, for a total value of $838,763.82. Following the sale, the general counsel now directly 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 available at this hyperlink. 0.79% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On JPMorgan Chase & Co.

Several hedge funds have recently modified their holdings of JPM. Fiera Capital Corp boosted its stake in shares of JPMorgan Chase & Co. by 1.7% during the 2nd quarter. Fiera Capital Corp now owns 3,738 shares of the financial services provider’s stock worth $756,000 after purchasing an additional 63 shares during the last quarter. Driehaus Capital Management LLC lifted its holdings in shares of JPMorgan Chase & Co. by 13.1% during the 2nd quarter. Driehaus Capital Management LLC now owns 7,378 shares of the financial services provider’s stock worth $1,492,000 after acquiring an additional 854 shares during the period. Granite FO LLC purchased a new position in shares of JPMorgan Chase & Co. during the 2nd quarter worth about $453,000. Sunbelt Securities Inc. lifted its holdings in shares of JPMorgan Chase & Co. by 1.0% during the 2nd quarter. Sunbelt Securities Inc. now owns 28,821 shares of the financial services provider’s stock worth $5,829,000 after acquiring an additional 292 shares during the period. Finally, William B. Walkup & Associates Inc. purchased a new position in shares of JPMorgan Chase & Co. during the 2nd quarter worth about $6,230,000. 71.55% of the stock is owned by institutional investors and hedge funds.

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.