JPMorgan Chase & Co. (NYSE:JPM) Declares Quarterly Dividend of $1.25

JPMorgan Chase & Co. (NYSE:JPM) announced a quarterly dividend on Wednesday, September 18th, Wall Street Journal reports. Shareholders of record on Friday, October 4th will be given a dividend of 1.25 per share by the financial services provider on Thursday, October 31st. This represents a $5.00 annualized dividend and a yield of 2.41%. The ex-dividend date is Friday, October 4th. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15.

JPMorgan Chase & Co. has raised its dividend payment by an average of 4.0% per year over the last three years and has raised its dividend every year for the last 14 years. JPMorgan Chase & Co. has a payout ratio of 26.9% indicating that its dividend is sufficiently covered by earnings. Analysts expect JPMorgan Chase & Co. to earn $16.89 per share next year, which means the company should continue to be able to cover its $4.60 annual dividend with an expected future payout ratio of 27.2%.

JPMorgan Chase & Co. Price Performance

NYSE JPM traded down $1.72 on Wednesday, hitting $207.53. 8,217,234 shares of the company’s stock were exchanged, compared to its average volume of 9,138,975. The stock has a 50-day moving average of $211.43 and a 200-day moving average of $201.36. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 1.24. JPMorgan Chase & Co. has a 52 week low of $135.19 and a 52 week high of $225.48. The stock has a market cap of $595.96 billion, a price-to-earnings ratio of 11.65, a P/E/G ratio of 2.33 and a beta of 1.12.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Friday, July 12th. The financial services provider reported $6.12 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $50.80 billion during the quarter, compared to analysts’ expectations of $42.23 billion. During the same period in the prior year, the company earned $4.37 EPS. Analysts expect that JPMorgan Chase & Co. will post 16.78 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages recently issued reports on JPM. Wolfe Research lowered JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a research report on Monday, July 8th. Morgan Stanley lowered their target price on JPMorgan Chase & Co. from $226.00 to $220.00 and set an “overweight” rating for the company in a research report on Thursday, September 12th. Citigroup raised their target price on JPMorgan Chase & Co. from $205.00 to $215.00 and gave the stock a “neutral” rating in a research report on Monday, July 15th. Oppenheimer raised their target price on JPMorgan Chase & Co. from $215.00 to $221.00 and gave the stock an “outperform” rating in a research report on Monday, July 15th. Finally, Keefe, Bruyette & Woods increased their price target 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. Eight 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 currently has an average rating of “Moderate Buy” and a consensus target price of $211.06.

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.