JPMorgan Chase & Co. (NYSE:JPM) Trading Up 0.4% on Analyst Upgrade

JPMorgan Chase & Co. (NYSE:JPM)’s stock price traded up 0.4% during trading on Wednesday after Oppenheimer raised their price target on the stock from $221.00 to $234.00. Oppenheimer currently has an outperform rating on the stock. JPMorgan Chase & Co. traded as high as $208.95 and last traded at $207.88. 1,503,914 shares were traded during trading, a decline of 84% from the average session volume of 9,128,670 shares. The stock had previously closed at $207.04.

JPM has been the topic of several other research reports. Morgan Stanley cut JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and raised their price objective for the stock from $220.00 to $224.00 in a report on Monday. BMO Capital Markets raised their price objective on JPMorgan Chase & Co. from $195.00 to $205.00 and gave the stock a “market perform” rating in a report on Thursday, July 11th. Wells Fargo & Company raised their price objective on JPMorgan Chase & Co. from $220.00 to $225.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. Keefe, Bruyette & Woods raised their price objective 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. Finally, Piper Sandler raised their price objective on JPMorgan Chase & Co. from $220.00 to $230.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. Nine equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, JPMorgan Chase & Co. currently has a consensus rating of “Moderate Buy” and an average target price of $212.13.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Capital International Ltd. CA increased its position in shares of JPMorgan Chase & Co. by 1.8% during the fourth quarter. Capital International Ltd. CA now owns 164,182 shares of the financial services provider’s stock worth $27,927,000 after acquiring an additional 2,907 shares during the last quarter. Capital International Sarl grew its stake in JPMorgan Chase & Co. by 10.4% in the fourth quarter. Capital International Sarl now owns 236,374 shares of the financial services provider’s stock worth $40,207,000 after purchasing an additional 22,287 shares in the last quarter. Amussen Hunsaker Associates LLC grew its stake in JPMorgan Chase & Co. by 9.0% in the fourth quarter. Amussen Hunsaker Associates LLC now owns 3,108 shares of the financial services provider’s stock worth $529,000 after purchasing an additional 257 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in JPMorgan Chase & Co. by 162.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 430,833 shares of the financial services provider’s stock worth $73,285,000 after purchasing an additional 266,492 shares in the last quarter. Finally, Morningstar Investment Management LLC acquired a new position in JPMorgan Chase & Co. in the fourth quarter worth about $3,053,000. 71.55% of the stock is owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Stock Up 0.4 %

The firm has a market capitalization of $596.96 billion, a price-to-earnings ratio of 11.59, a P/E/G ratio of 2.39 and a beta of 1.12. The stock has a 50 day moving average of $211.42 and a 200 day moving average of $202.85. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 1.24.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results on Friday, July 12th. The financial services provider reported $6.12 EPS for the quarter, topping analysts’ consensus estimates of $4.19 by $1.93. The business had revenue of $50.80 billion during 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 period last year, the firm earned $4.37 earnings per share. As a group, analysts expect that JPMorgan Chase & Co. will post 16.72 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, October 4th will be paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 2.41%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date is Friday, October 4th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 27.89%.

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.