JPMorgan Chase & Co. (NYSE:JPM) Price Target Lowered to $232.00 at Oppenheimer

JPMorgan Chase & Co. (NYSE:JPM) had its price objective cut by Oppenheimer from $234.00 to $232.00 in a report published on Monday, Benzinga reports. They currently have an outperform rating on the financial services provider’s stock.

Several other equities analysts also recently commented on the company. Piper Sandler boosted their price objective on JPMorgan Chase & Co. from $220.00 to $230.00 and gave the company an overweight rating in a research report on Monday, July 15th. Daiwa Capital Markets lowered their price objective on 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. Deutsche Bank Aktiengesellschaft restated a hold rating and issued a $235.00 price objective on shares of JPMorgan Chase & Co. in a research report on Tuesday, September 3rd. BMO Capital Markets boosted their price objective on JPMorgan Chase & Co. from $195.00 to $205.00 and gave the company a market perform rating in a research report on Thursday, July 11th. Finally, Wolfe Research downgraded JPMorgan Chase & Co. from an outperform rating to a peer perform rating in a research report on Monday, July 8th. Nine equities research 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. currently has a consensus rating of Moderate Buy and a consensus price target of $217.94.

JPMorgan Chase & Co. Stock Performance

NYSE:JPM opened at $221.48 on Monday. The stock has a 50-day simple moving average of $212.32 and a two-hundred day simple moving average of $203.88. JPMorgan Chase & Co. has a 52-week low of $135.19 and a 52-week high of $225.48. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.91 and a current ratio of 0.91. The firm has a market capitalization of $636.02 billion, a PE ratio of 12.35, a P/E/G ratio of 3.28 and a beta of 1.11.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly 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 17.26% and a net margin of 20.32%. 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 company posted $4.33 earnings per share. JPMorgan Chase & Co.’s revenue for the quarter was up 6.5% on a year-over-year basis. Analysts forecast that JPMorgan Chase & Co. will post 16.75 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 4th will be given a dividend of $1.25 per share. The ex-dividend date is Friday, October 4th. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. This represents a $5.00 dividend on an annualized basis and a yield of 2.26%. JPMorgan Chase & Co.’s dividend payout ratio is 27.89%.

Institutional Investors Weigh In On JPMorgan Chase & Co.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Henrickson Nauta Wealth Advisors Inc. raised its position in JPMorgan Chase & Co. by 1.3% during the third quarter. Henrickson Nauta Wealth Advisors Inc. now owns 3,436 shares of the financial services provider’s stock valued at $725,000 after purchasing an additional 45 shares during the period. Instrumental Wealth LLC grew its stake in shares of JPMorgan Chase & Co. by 4.5% during the second quarter. Instrumental Wealth LLC now owns 1,101 shares of the financial services provider’s stock valued at $230,000 after buying an additional 47 shares during the last quarter. Gemmer Asset Management LLC grew its stake in shares of JPMorgan Chase & Co. by 1.6% during the second quarter. Gemmer Asset Management LLC now owns 3,135 shares of the financial services provider’s stock valued at $634,000 after buying an additional 48 shares during the last quarter. Great Point Wealth Advisors LLC grew its stake in shares of JPMorgan Chase & Co. by 0.9% during the second quarter. Great Point Wealth Advisors LLC now owns 5,690 shares of the financial services provider’s stock valued at $1,151,000 after buying an additional 48 shares during the last quarter. Finally, Waller Financial Planning Group Inc. grew its stake in shares of JPMorgan Chase & Co. by 1.7% during the third quarter. Waller Financial Planning Group Inc. now owns 2,899 shares of the financial services provider’s stock valued at $611,000 after buying an additional 49 shares during the last quarter. 71.55% of the stock is currently 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.