JPMorgan Chase & Co. (NYSE:JPM) Price Target Increased to $230.00 by Analysts at Royal Bank of Canada

JPMorgan Chase & Co. (NYSE:JPM) had its price target hoisted by Royal Bank of Canada from $211.00 to $230.00 in a research note released on Monday morning, Benzinga reports. The firm currently has an outperform rating on the financial services provider’s stock.

Several other analysts have also weighed in on JPM. Oppenheimer raised their price objective on shares of JPMorgan Chase & Co. from $221.00 to $234.00 and gave the stock an outperform rating in a report on Wednesday, October 2nd. 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 note on Thursday, October 10th. Wells Fargo & Company raised their price objective on shares of JPMorgan Chase & Co. from $220.00 to $225.00 and gave the company an overweight rating in a research note on Monday, July 15th. BMO Capital Markets lifted their price target on shares of JPMorgan Chase & Co. from $195.00 to $205.00 and gave the stock a market perform rating in a research report on Thursday, July 11th. Finally, StockNews.com upgraded shares of JPMorgan Chase & Co. from a sell rating to a hold rating in a report on Saturday, July 13th. Nine equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $217.94.

JPMorgan Chase & Co. Stock Down 0.4 %

NYSE JPM opened at $221.48 on Monday. 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 50-day simple moving average of $212.32 and a 200 day simple moving average of $203.88. JPMorgan Chase & Co. has a twelve month low of $135.19 and a twelve month high of $225.48. The stock has a market cap of $636.02 billion, a PE ratio of 12.35, a PEG ratio of 3.28 and a beta of 1.11.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.02 by $0.35. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.26%. The firm had revenue of $43.32 billion during the quarter, compared to analyst estimates of $41.43 billion. During the same quarter in the prior year, the business posted $4.33 earnings per share. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. On average, research analysts forecast that JPMorgan Chase & Co. will post 16.75 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 4th will be issued a $1.25 dividend. The ex-dividend date of this dividend is Friday, October 4th. 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 dividend yield of 2.26%. JPMorgan Chase & Co.’s dividend payout ratio is currently 27.89%.

Hedge Funds Weigh In On JPMorgan Chase & Co.

Institutional investors have recently modified their holdings of the business. Swedbank AB bought a new position in JPMorgan Chase & Co. during the first quarter valued at $800,130,000. Capital Research Global Investors raised its position in shares of JPMorgan Chase & Co. by 23.3% in the first quarter. Capital Research Global Investors now owns 17,200,124 shares of the financial services provider’s stock worth $3,445,185,000 after buying an additional 3,252,451 shares in the last quarter. Wulff Hansen & CO. raised its position in JPMorgan Chase & Co. by 19,920.7% during the second quarter. Wulff Hansen & CO. now owns 2,801,503 shares of the financial services provider’s stock valued at $566,632,000 after purchasing an additional 2,787,510 shares in the last quarter. Granite Bay Wealth Management LLC raised its position in JPMorgan Chase & Co. by 6,239.1% during the second quarter. Granite Bay Wealth Management LLC now owns 1,418,572 shares of the financial services provider’s stock valued at $277,456,000 after purchasing an additional 1,396,194 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in JPMorgan Chase & Co. by 4.8% during the second quarter. Dimensional Fund Advisors LP now owns 22,696,963 shares of the financial services provider’s stock valued at $4,590,412,000 after purchasing an additional 1,040,594 shares in the last quarter. 71.55% of the stock is owned by 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.