JPMorgan Chase & Co. (NYSE:JPM) Trading Up 9.7% Following Analyst Upgrade

JPMorgan Chase & Co. (NYSE:JPM)’s stock price traded up 9.7% during mid-day trading on Wednesday after Oppenheimer raised their price target on the stock from $232.00 to $241.00. Oppenheimer currently has an outperform rating on the stock. JPMorgan Chase & Co. traded as high as $243.40 and last traded at $243.06. 9,165,595 shares changed hands during mid-day trading, an increase of 2% from the average session volume of 8,990,052 shares. The stock had previously closed at $221.49.

Several other brokerages have also issued reports on JPM. Morgan Stanley lowered JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and lifted their price target for the company from $220.00 to $224.00 in a research note on Monday, September 30th. Wolfe Research cut JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a research report on Monday, July 8th. Citigroup increased their target price on shares of JPMorgan Chase & Co. from $205.00 to $215.00 and gave the stock a “neutral” rating in a report on Monday, July 15th. Royal Bank of Canada lifted their price target on shares of JPMorgan Chase & Co. from $211.00 to $230.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Finally, Piper Sandler upped their price objective on shares of JPMorgan Chase & Co. from $220.00 to $230.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. Eight research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, JPMorgan Chase & Co. presently has an average rating of “Moderate Buy” and an average target price of $223.38.

Institutional Investors Weigh In On JPMorgan Chase & Co.

Institutional investors and hedge funds have recently made changes to their positions in the stock. WFA Asset Management Corp raised its stake in JPMorgan Chase & Co. by 51.2% during the first quarter. WFA Asset Management Corp now owns 1,216 shares of the financial services provider’s stock worth $244,000 after buying an additional 412 shares during the last quarter. American Institute for Advanced Investment Management LLP raised its position in shares of JPMorgan Chase & Co. by 28.8% in the 1st quarter. American Institute for Advanced Investment Management LLP now owns 1,781 shares of the financial services provider’s stock worth $357,000 after acquiring an additional 398 shares in the last quarter. Ashton Thomas Private Wealth LLC lifted its stake in shares of JPMorgan Chase & Co. by 3.0% in the 1st quarter. Ashton Thomas Private Wealth LLC now owns 76,166 shares of the financial services provider’s stock valued at $15,256,000 after purchasing an additional 2,221 shares during the period. Benchmark Financial Wealth Advisors LLC boosted its position in shares of JPMorgan Chase & Co. by 16.8% during the 1st quarter. Benchmark Financial Wealth Advisors LLC now owns 2,646 shares of the financial services provider’s stock valued at $530,000 after purchasing an additional 380 shares in the last quarter. Finally, Edge Financial Advisors LLC bought a new stake in shares of JPMorgan Chase & Co. during the 1st quarter valued at about $1,521,000. Institutional investors and hedge funds own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Up 11.5 %

The firm has a market cap of $695.56 billion, a price-to-earnings ratio of 13.75, a PEG ratio of 3.25 and a beta of 1.10. The firm has a 50 day moving average of $216.71 and a 200 day moving average of $207.71. 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 EPS for the quarter, topping the consensus estimate of $4.02 by $0.35. JPMorgan Chase & Co. had a net margin of 19.64% and a return on equity of 16.71%. The company had revenue of $43.32 billion during the quarter, compared to the consensus estimate of $41.43 billion. During the same quarter last year, the firm posted $4.33 EPS. The company’s quarterly revenue was up 6.5% on a year-over-year basis. As a group, sell-side analysts predict that JPMorgan Chase & Co. will post 17.52 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 4th were given a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 2.02%. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date was Friday, October 4th. JPMorgan Chase & Co.’s payout ratio is presently 27.82%.

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.