JPMorgan Chase & Co. (NYSE:JPM) Trading 0.6% Higher – Here’s Why

JPMorgan Chase & Co. (NYSE:JPM) shares shot up 0.6% during mid-day trading on Friday . The company traded as high as $244.88 and last traded at $241.36. 2,128,591 shares were traded during trading, a decline of 62% from the average session volume of 5,540,587 shares. The stock had previously closed at $240.00.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Daiwa Capital Markets reduced their price objective on shares of JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating on the stock in a research report on Thursday, October 10th. Oppenheimer cut shares of JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 20th. Morgan Stanley lowered JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and raised their price objective for the company from $220.00 to $224.00 in a research report on Monday, September 30th. Baird R W downgraded JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 7th. Finally, Keefe, Bruyette & Woods lifted their price objective on JPMorgan Chase & Co. from $216.00 to $254.00 and gave the stock a “market perform” rating in a research note on Tuesday, December 3rd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $239.88.

JPMorgan Chase & Co. Price Performance

The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.89 and a current ratio of 0.89. The company has a market capitalization of $684.92 billion, a P/E ratio of 13.54, a P/E/G ratio of 3.54 and a beta of 1.11. The firm’s fifty day moving average is $239.74 and its 200 day moving average is $221.16.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.02 by $0.35. JPMorgan Chase & Co. had a return on equity of 16.71% and a net margin of 19.64%. The business had revenue of $43.32 billion during the quarter, compared to analyst estimates of $41.43 billion. During the same quarter in the previous year, the business earned $4.33 earnings per share. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. As a group, analysts predict that JPMorgan Chase & Co. will post 17.62 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, January 6th will be paid a $1.25 dividend. The ex-dividend date of this dividend is Monday, January 6th. This represents a $5.00 dividend on an annualized basis and a yield of 2.06%. JPMorgan Chase & Co.’s payout ratio is 27.82%.

Institutional Trading of JPMorgan Chase & Co.

Large investors have recently made changes to their positions in the stock. Mizuho Securities Co. Ltd. bought a new stake in JPMorgan Chase & Co. during the 3rd quarter valued at about $25,000. Catalyst Capital Advisors LLC purchased a new position in shares of JPMorgan Chase & Co. during the third quarter worth approximately $27,000. Fairway Wealth LLC bought a new stake in shares of JPMorgan Chase & Co. during the second quarter valued at approximately $32,000. West Financial Advisors LLC purchased a new stake in shares of JPMorgan Chase & Co. in the third quarter valued at approximately $37,000. Finally, New England Capital Financial Advisors LLC boosted its holdings in shares of JPMorgan Chase & Co. by 38.5% in the third quarter. New England Capital Financial Advisors LLC now owns 180 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 50 shares during the period. 71.55% of the stock is owned by hedge funds and other institutional investors.

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.