JPMorgan Chase & Co. (NYSE:JPM) Sees Unusually-High Trading Volume Following Strong Earnings

JPMorgan Chase & Co. (NYSE:JPM) saw unusually-high trading volume on Friday following a better than expected earnings announcement. Approximately 3,436,436 shares changed hands during trading, a decline of 62% from the previous session’s volume of 9,073,871 shares.The stock last traded at $220.08 and had previously closed at $212.84.

The financial services provider reported $4.37 EPS for the quarter, topping analysts’ consensus estimates of $4.02 by $0.35. The business had revenue of $43.32 billion for the quarter, compared to analysts’ expectations of $41.43 billion. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.26%. The business’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period in the previous year, the company posted $4.33 earnings per share.

JPMorgan Chase & Co. Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, October 4th will be issued a $1.25 dividend. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. This represents a $5.00 annualized dividend and a yield of 2.25%. The ex-dividend date is Friday, October 4th. JPMorgan Chase & Co.’s payout ratio is currently 27.89%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on JPM shares. Evercore ISI upped their target price on JPMorgan Chase & Co. from $210.00 to $211.00 and gave the company an “outperform” rating in a report on Monday, July 15th. Jefferies Financial Group upped their target price on JPMorgan Chase & Co. from $230.00 to $239.00 and gave the company a “buy” rating in a report on Wednesday, July 3rd. Morgan Stanley lowered JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and upped their target price for the company from $220.00 to $224.00 in a report on Monday, September 30th. Piper Sandler upped their target price on JPMorgan Chase & Co. from $220.00 to $230.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $235.00 price objective on shares of JPMorgan Chase & Co. in a research report on Tuesday, September 3rd. Nine analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, JPMorgan Chase & Co. has a consensus rating of “Moderate Buy” and an average price target of $213.47.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Capital International Investors boosted its position in shares of JPMorgan Chase & Co. by 1.9% during the 1st quarter. Capital International Investors now owns 42,294,992 shares of the financial services provider’s stock worth $8,471,687,000 after acquiring an additional 778,297 shares in the last quarter. Capital World Investors boosted its position in shares of JPMorgan Chase & Co. by 0.4% during the 1st quarter. Capital World Investors now owns 34,422,011 shares of the financial services provider’s stock worth $6,894,729,000 after acquiring an additional 150,812 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of JPMorgan Chase & Co. by 4.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 22,696,963 shares of the financial services provider’s stock worth $4,590,412,000 after acquiring an additional 1,040,594 shares in the last quarter. Capital Research Global Investors boosted its position in shares of JPMorgan Chase & Co. by 23.3% during the 1st quarter. Capital Research Global Investors now owns 17,200,124 shares of the financial services provider’s stock worth $3,445,185,000 after acquiring an additional 3,252,451 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its position in shares of JPMorgan Chase & Co. by 4.0% during the 4th quarter. Fisher Asset Management LLC now owns 11,836,898 shares of the financial services provider’s stock worth $2,013,457,000 after acquiring an additional 450,098 shares in the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

JPMorgan Chase & Co. Price Performance

The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 1.24. The firm has a market cap of $632.45 billion, a price-to-earnings ratio of 12.40, a price-to-earnings-growth ratio of 3.28 and a beta of 1.11. The company’s 50-day moving average is $211.79 and its 200-day moving average is $203.70.

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.