Analysts Issue Forecasts for JPMorgan Chase & Co.’s Q2 2024 Earnings (NYSE:JPM)

JPMorgan Chase & Co. (NYSE:JPM) – Equities research analysts at Seaport Res Ptn upped their Q2 2024 earnings estimates for shares of JPMorgan Chase & Co. in a research note issued on Tuesday, July 2nd. Seaport Res Ptn analyst J. Mitchell now expects that the financial services provider will earn $4.21 per share for the quarter, up from their prior estimate of $4.01. The consensus estimate for JPMorgan Chase & Co.’s current full-year earnings is $16.45 per share. Seaport Res Ptn also issued estimates for JPMorgan Chase & Co.’s Q3 2024 earnings at $3.97 EPS, Q4 2024 earnings at $3.78 EPS and Q2 2025 earnings at $4.19 EPS.

Several other research firms have also recently issued reports on JPM. StockNews.com raised shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research note on Wednesday. Piper Sandler raised their price target on shares of JPMorgan Chase & Co. from $215.00 to $220.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 21st. UBS Group raised their price target on shares of JPMorgan Chase & Co. from $219.00 to $224.00 and gave the stock a “buy” rating in a research note on Tuesday, May 21st. Evercore ISI reiterated an “outperform” rating and set a $210.00 price objective on shares of JPMorgan Chase & Co. in a report on Wednesday. Finally, Wells Fargo & Company increased their price objective on shares of JPMorgan Chase & Co. from $200.00 to $220.00 and gave the stock an “overweight” rating in a report on Wednesday, March 20th. Nine analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $194.65.

JPMorgan Chase & Co. Price Performance

JPMorgan Chase & Co. stock opened at $208.29 on Thursday. JPMorgan Chase & Co. has a 12-month low of $135.19 and a 12-month high of $210.38. The stock has a market capitalization of $598.14 billion, a P/E ratio of 12.58, a P/E/G ratio of 2.72 and a beta of 1.12. The firm’s 50-day moving average is $197.57 and its two-hundred day moving average is $186.88. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.92 and a quick ratio of 0.92.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings data on Friday, April 12th. The financial services provider reported $4.63 EPS for the quarter, beating analysts’ consensus estimates of $4.18 by $0.45. JPMorgan Chase & Co. had a net margin of 20.05% and a return on equity of 17.79%. The firm had revenue of $41.93 billion for the quarter, compared to analysts’ expectations of $40.90 billion.

JPMorgan Chase & Co. Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, July 5th will be given a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date is Friday, July 5th. JPMorgan Chase & Co.’s payout ratio is currently 27.78%.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, insider Elena A. Korablina sold 21,829 shares of JPMorgan Chase & Co. stock in a transaction on Monday, May 6th. The shares were sold at an average price of $190.91, for a total value of $4,167,374.39. Following the completion of the transaction, the insider now owns 6,484 shares of the company’s stock, valued at $1,237,860.44. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other JPMorgan Chase & Co. news, insider Elena A. Korablina sold 21,829 shares of JPMorgan Chase & Co. stock in a transaction on Monday, May 6th. The shares were sold at an average price of $190.91, for a total value of $4,167,374.39. Following the completion of the transaction, the insider now owns 6,484 shares of the company’s stock, valued at $1,237,860.44. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, General Counsel Stacey Friedman sold 4,415 shares of JPMorgan Chase & Co. stock in a transaction on Monday, May 20th. The stock was sold at an average price of $200.65, for a total transaction of $885,869.75. Following the completion of the transaction, the general counsel now directly owns 42,124 shares of the company’s stock, valued at approximately $8,452,180.60. The disclosure for this sale can be found here. Insiders sold a total of 250,565 shares of company stock valued at $46,962,717 over the last 90 days. 0.79% of the stock is owned by company insiders.

Hedge Funds Weigh In On JPMorgan Chase & Co.

Hedge funds and other institutional investors have recently modified their holdings of the company. Stone House Investment Management LLC boosted its holdings in shares of JPMorgan Chase & Co. by 132.8% during the fourth quarter. Stone House Investment Management LLC now owns 156 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 89 shares during the period. Retirement Group LLC boosted its holdings 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 period. Richardson Capital Management LLC acquired a new position in shares of JPMorgan Chase & Co. during the first quarter valued at $34,000. Bare Financial Services Inc acquired a new position in shares of JPMorgan Chase & Co. during the fourth quarter valued at $35,000. Finally, Partnership Wealth Management LLC acquired a new position in shares of JPMorgan Chase & Co. during the fourth quarter valued at $36,000. Institutional investors and hedge funds 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.