JPMorgan Chase & Co. (NYSE:JPM) Trading 0.1% Higher After Analyst Upgrade

JPMorgan Chase & Co. (NYSE:JPM)’s share price traded up 0.1% on Monday after Barclays raised their price target on the stock from $257.00 to $304.00. Barclays currently has an overweight rating on the stock. JPMorgan Chase & Co. traded as high as $245.01 and last traded at $242.23. 2,601,485 shares traded hands during mid-day trading, a decline of 63% from the average session volume of 6,990,800 shares. The stock had previously closed at $242.03.

Other equities research analysts have also recently issued reports about the company. Citigroup increased their target price on JPMorgan Chase & Co. from $215.00 to $250.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th. Oppenheimer cut shares of JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 20th. Morgan Stanley lowered shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and raised their price target for the stock from $220.00 to $224.00 in a report on Monday, September 30th. Piper Sandler upped their price objective on shares of JPMorgan Chase & Co. from $240.00 to $275.00 and gave the company an “overweight” rating in a research note on Tuesday, December 3rd. Finally, Robert W. Baird cut JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 target price on the stock. in a research note on Thursday, November 7th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, JPMorgan Chase & Co. presently has a consensus rating of “Hold” and a consensus target price of $242.81.

Hedge Funds Weigh In On JPMorgan Chase & Co.

Several institutional investors and hedge funds have recently added to or reduced their stakes in JPM. Eagle Capital Management LLC increased its position in JPMorgan Chase & Co. by 0.4% during the 2nd quarter. Eagle Capital Management LLC now owns 21,867 shares of the financial services provider’s stock valued at $4,423,000 after buying an additional 84 shares in the last quarter. Van ECK Associates Corp bought a new position in shares of JPMorgan Chase & Co. during the second quarter valued at $636,000. Fiera Capital Corp raised its position in shares of JPMorgan Chase & Co. by 1.7% in the 2nd quarter. Fiera Capital Corp now owns 3,738 shares of the financial services provider’s stock worth $756,000 after purchasing an additional 63 shares during the last quarter. Adell Harriman & Carpenter Inc. grew its position in JPMorgan Chase & Co. by 2.5% during the 2nd quarter. Adell Harriman & Carpenter Inc. now owns 115,124 shares of the financial services provider’s stock valued at $23,285,000 after purchasing an additional 2,857 shares during the last quarter. Finally, Evermay Wealth Management LLC increased its stake in JPMorgan Chase & Co. by 1.5% during the 2nd quarter. Evermay Wealth Management LLC now owns 21,225 shares of the financial services provider’s stock valued at $4,293,000 after purchasing an additional 320 shares in the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Price Performance

The firm’s fifty day simple moving average is $240.05 and its 200-day simple moving average is $221.62. The firm has a market capitalization of $678.33 billion, a PE ratio of 13.41, a PEG ratio of 3.54 and a beta of 1.11. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.27.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data on Friday, October 11th. The financial services provider reported $4.37 earnings per share for the quarter, topping analysts’ consensus estimates of $4.02 by $0.35. The company had revenue of $43.32 billion during the quarter, compared to analyst estimates of $41.43 billion. JPMorgan Chase & Co. had a net margin of 19.64% and a return on equity of 16.71%. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period in the previous year, the business earned $4.33 EPS. On average, research analysts forecast 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 declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, January 6th will be issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date of this dividend is Monday, January 6th. JPMorgan Chase & Co.’s payout ratio is currently 27.82%.

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.