Zacks Research Brokers Raise Earnings Estimates for JPMorgan Chase & Co. (NYSE:JPM)

JPMorgan Chase & Co. (NYSE:JPM) – Equities researchers at Zacks Research upped their Q3 2024 earnings per share (EPS) estimates for JPMorgan Chase & Co. in a note issued to investors on Tuesday, October 8th. Zacks Research analyst R. Department now forecasts that the financial services provider will post earnings of $3.99 per share for the quarter, up from their previous estimate of $3.97. The consensus estimate for JPMorgan Chase & Co.’s current full-year earnings is $16.72 per share. Zacks Research also issued estimates for JPMorgan Chase & Co.’s Q4 2024 earnings at $3.69 EPS, Q1 2025 earnings at $4.05 EPS, Q2 2025 earnings at $4.15 EPS, Q1 2026 earnings at $4.03 EPS, Q2 2026 earnings at $4.26 EPS, Q3 2026 earnings at $4.78 EPS and FY2026 earnings at $17.61 EPS.

JPM has been the subject of a number of other reports. Jefferies Financial Group increased their price objective on shares of JPMorgan Chase & Co. from $230.00 to $239.00 and gave the stock a “buy” rating in a research note on Wednesday, July 3rd. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $235.00 price target on shares of JPMorgan Chase & Co. in a report on Tuesday, September 3rd. StockNews.com raised JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research note on Saturday, July 13th. Keefe, Bruyette & Woods lifted their target price on JPMorgan Chase & Co. from $209.00 to $211.00 and gave the company a “market perform” rating in a research note on Tuesday, July 9th. Finally, Citigroup upped their price target on JPMorgan Chase & Co. from $205.00 to $215.00 and gave the stock a “neutral” rating in a research note on Monday, July 15th. Nine equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $212.13.

JPMorgan Chase & Co. Price Performance

NYSE JPM opened at $213.41 on Wednesday. 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 12 month low of $135.19 and a 12 month high of $225.48. The stock has a market cap of $612.84 billion, a price-to-earnings ratio of 11.90, a PEG ratio of 2.39 and a beta of 1.11. The company’s 50 day moving average is $211.21 and its two-hundred day moving average is $203.32.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data on Friday, July 12th. The financial services provider reported $6.12 EPS for the quarter, topping the consensus estimate of $4.19 by $1.93. The firm had revenue of $50.80 billion for the quarter, compared to the consensus estimate of $42.23 billion. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. During the same quarter last year, the company earned $4.37 earnings per share.

Hedge Funds Weigh In On JPMorgan Chase & Co.

A number of institutional investors and hedge funds have recently modified their holdings of JPM. Wellington Wealth Strategies LLC. bought a new position in JPMorgan Chase & Co. during the fourth quarter valued at $1,145,000. Cooper Financial Group grew its holdings in JPMorgan Chase & Co. by 12.8% during the 1st quarter. Cooper Financial Group now owns 8,693 shares of the financial services provider’s stock valued at $1,741,000 after purchasing an additional 984 shares during the last quarter. Spartan Planning & Wealth Management raised its position in JPMorgan Chase & Co. by 257.3% in the 4th quarter. Spartan Planning & Wealth Management now owns 3,780 shares of the financial services provider’s stock worth $643,000 after purchasing an additional 2,722 shares during the period. jvl associates llc lifted its stake in JPMorgan Chase & Co. by 59.8% in the first quarter. jvl associates llc now owns 1,911 shares of the financial services provider’s stock worth $383,000 after purchasing an additional 715 shares during the last quarter. Finally, Rowlandmiller & PARTNERS.ADV lifted its stake in JPMorgan Chase & Co. by 1.3% in the first quarter. Rowlandmiller & PARTNERS.ADV now owns 25,963 shares of the financial services provider’s stock worth $5,201,000 after purchasing an additional 330 shares during the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 4th will be given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 2.34%. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date of this dividend is Friday, October 4th. JPMorgan Chase & Co.’s dividend payout ratio is currently 27.89%.

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.