Oppenheimer Trims JPMorgan Chase & Co. (NYSE:JPM) Target Price to $232.00

JPMorgan Chase & Co. (NYSE:JPM) had its target price decreased by Oppenheimer from $234.00 to $232.00 in a report released on Monday morning, Benzinga reports. Oppenheimer currently has an outperform rating on the financial services provider’s stock.

Other analysts have also issued reports about the company. Evercore ISI raised their target price on JPMorgan Chase & Co. from $217.00 to $230.00 and gave the stock an “outperform” rating in a report on Monday. 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. Keefe, Bruyette & Woods raised their price objective on JPMorgan Chase & Co. from $209.00 to $211.00 and gave the company a “market perform” rating in a report on Tuesday, July 9th. BMO Capital Markets raised their price objective on JPMorgan Chase & Co. from $195.00 to $205.00 and gave the company a “market perform” rating in a report on Thursday, July 11th. Finally, Daiwa Capital Markets dropped their price objective on JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating on the stock in a report on Thursday, October 10th. Nine research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $217.94.

JPMorgan Chase & Co. Stock Up 0.4 %

JPMorgan Chase & Co. stock opened at $224.45 on Monday. The firm has a market cap of $644.55 billion, a price-to-earnings ratio of 12.52, a price-to-earnings-growth ratio of 3.28 and a beta of 1.11. JPMorgan Chase & Co. has a 52 week low of $135.19 and a 52 week high of $225.85. The business’s 50-day moving average price is $213.63 and its 200 day moving average price is $204.31. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 1.24.

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 the consensus estimate of $4.02 by $0.35. The firm had revenue of $43.32 billion for the quarter, compared to analyst estimates of $41.43 billion. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. JPMorgan Chase & Co.’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period last year, the company earned $4.33 earnings per share. As a group, sell-side analysts anticipate that JPMorgan Chase & Co. will post 16.75 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, October 4th will be given a dividend of $1.25 per share. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date is Friday, October 4th. This represents a $5.00 dividend on an annualized basis and a yield of 2.23%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 27.89%.

Hedge Funds Weigh In On JPMorgan Chase & Co.

A number of institutional investors have recently added to or reduced their stakes in the stock. Stratos Wealth Advisors LLC lifted its position in JPMorgan Chase & Co. by 0.8% during the third quarter. Stratos Wealth Advisors LLC now owns 64,049 shares of the financial services provider’s stock worth $13,505,000 after buying an additional 513 shares in the last quarter. Stratos Wealth Partners LTD. lifted its position in JPMorgan Chase & Co. by 13.3% during the third quarter. Stratos Wealth Partners LTD. now owns 249,556 shares of the financial services provider’s stock worth $52,621,000 after buying an additional 29,360 shares in the last quarter. Inspire Advisors LLC lifted its position in JPMorgan Chase & Co. by 2.5% during the third quarter. Inspire Advisors LLC now owns 2,024 shares of the financial services provider’s stock worth $427,000 after buying an additional 50 shares in the last quarter. Aspiriant LLC lifted its position in JPMorgan Chase & Co. by 2.6% during the third quarter. Aspiriant LLC now owns 25,216 shares of the financial services provider’s stock worth $5,317,000 after buying an additional 642 shares in the last quarter. Finally, Trust Point Inc. lifted its position in JPMorgan Chase & Co. by 0.8% during the third quarter. Trust Point Inc. now owns 26,017 shares of the financial services provider’s stock worth $5,486,000 after buying an additional 196 shares in the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

About JPMorgan Chase & Co.

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.