JPMorgan Chase & Co. (NYSE:JPM) Sets New 1-Year High Following Analyst Upgrade

JPMorgan Chase & Co. (NYSE:JPM)’s share price hit a new 52-week high 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 $242.30 and last traded at $241.73, with a volume of 1648536 shares changing hands. The stock had previously closed at $221.49.

A number of other analysts have also recently commented on the stock. Evercore ISI upped their price target on shares of JPMorgan Chase & Co. from $217.00 to $230.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Keefe, Bruyette & Woods increased their target price on JPMorgan Chase & Co. from $209.00 to $211.00 and gave the stock a “market perform” rating in a research report on Tuesday, July 9th. Royal Bank of Canada lifted their price target on JPMorgan Chase & Co. from $211.00 to $230.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Wells Fargo & Company increased 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. Finally, Piper Sandler lifted their target price on JPMorgan Chase & Co. from $220.00 to $230.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Eight analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, JPMorgan Chase & Co. currently has an average rating of “Moderate Buy” and an average price target of $223.38.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of JPM. Mechanics Financial Corp lifted its position in JPMorgan Chase & Co. by 0.3% in the third quarter. Mechanics Financial Corp now owns 24,123 shares of the financial services provider’s stock valued at $5,087,000 after purchasing an additional 75 shares during the last quarter. Accent Capital Management LLC increased its stake in shares of JPMorgan Chase & Co. by 84.4% in the third quarter. Accent Capital Management LLC now owns 14,861 shares of the financial services provider’s stock worth $3,134,000 after buying an additional 6,802 shares during the period. Adero Partners LLC raised its holdings in JPMorgan Chase & Co. by 2.2% during the 3rd quarter. Adero Partners LLC now owns 18,806 shares of the financial services provider’s stock valued at $3,965,000 after buying an additional 402 shares during the last quarter. Atlanta Consulting Group Advisors LLC raised its holdings in JPMorgan Chase & Co. by 1.3% during the 3rd quarter. Atlanta Consulting Group Advisors LLC now owns 51,779 shares of the financial services provider’s stock valued at $10,918,000 after buying an additional 649 shares during the last quarter. Finally, GoalVest Advisory LLC boosted its position in JPMorgan Chase & Co. by 4.1% during the 3rd quarter. GoalVest Advisory LLC now owns 14,207 shares of the financial services provider’s stock valued at $2,996,000 after buying an additional 554 shares during the period. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

The business’s fifty day simple moving average is $216.71 and its 200-day simple moving average is $207.71. The firm has a market cap of $695.56 billion, a P/E ratio of 13.75, a price-to-earnings-growth ratio of 3.25 and a beta of 1.10. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.27.

JPMorgan Chase & Co. (NYSE:JPM) last posted its 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 return on equity of 16.71% and a net margin of 19.64%. The company had revenue of $43.32 billion for the quarter, compared to analysts’ expectations of $41.43 billion. During the same period last year, the firm earned $4.33 earnings per share. JPMorgan Chase & Co.’s quarterly revenue was up 6.5% on a year-over-year basis. As a group, sell-side analysts expect that JPMorgan Chase & Co. will post 17.52 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 4th were issued a $1.25 dividend. The ex-dividend date was 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 yield of 2.02%. JPMorgan Chase & Co.’s dividend payout ratio is 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.