JPMorgan Chase & Co. (NYSE:JPM) Trading Up 1.3% – Time to Buy?

JPMorgan Chase & Co. (NYSE:JPM) shares were up 1.3% during trading on Monday . The company traded as high as $244.22 and last traded at $242.89. Approximately 3,038,162 shares changed hands during trading, a decline of 64% from the average daily volume of 8,411,582 shares. The stock had previously closed at $239.87.

Wall Street Analysts Forecast Growth

JPM has been the topic of several research analyst reports. Truist Financial initiated coverage on JPMorgan Chase & Co. in a research note on Tuesday, January 7th. They set a “hold” rating and a $260.00 target price on the stock. Evercore ISI raised their target price 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. Bank of America lifted their target price on shares of JPMorgan Chase & Co. from $260.00 to $280.00 and gave the company a “buy” rating in a report on Tuesday, January 7th. Wolfe Research raised JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 price objective for the company in a research report on Friday, January 3rd. Finally, Citigroup lifted their price objective on JPMorgan Chase & Co. from $215.00 to $250.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $245.83.

JPMorgan Chase & Co. Stock Up 1.9 %

The company has a market capitalization of $710.09 billion, a price-to-earnings ratio of 14.04, a price-to-earnings-growth ratio of 3.54 and a beta of 1.11. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.27. The firm’s fifty day simple moving average is $242.60 and its two-hundred day simple moving average is $223.51.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $4.81 EPS for the quarter, beating the consensus estimate of $4.03 by $0.78. The business had revenue of $42.77 billion for the quarter, compared to analyst estimates of $41.90 billion. JPMorgan Chase & Co. had a return on equity of 16.71% and a net margin of 19.64%. The company’s quarterly revenue was up 10.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.04 EPS. Sell-side analysts anticipate that JPMorgan Chase & Co. will post 17.62 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, January 6th will be given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date of this dividend is Monday, January 6th. JPMorgan Chase & Co.’s dividend payout ratio is presently 27.82%.

Institutional Investors Weigh In On JPMorgan Chase & Co.

Institutional investors have recently modified their holdings of the company. Geode Capital Management LLC boosted its stake in shares of JPMorgan Chase & Co. by 0.9% in the third quarter. Geode Capital Management LLC now owns 58,344,186 shares of the financial services provider’s stock valued at $12,258,346,000 after purchasing an additional 505,830 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of JPMorgan Chase & Co. by 4.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 22,696,963 shares of the financial services provider’s stock worth $4,590,412,000 after purchasing an additional 1,040,594 shares during the last quarter. Fisher Asset Management LLC grew its stake in shares of JPMorgan Chase & Co. by 31.7% during the third quarter. Fisher Asset Management LLC now owns 16,784,272 shares of the financial services provider’s stock worth $3,539,132,000 after purchasing an additional 4,043,841 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in JPMorgan Chase & Co. by 2.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 15,084,919 shares of the financial services provider’s stock valued at $3,180,806,000 after buying an additional 302,592 shares during the last quarter. Finally, Franklin Resources Inc. raised its stake in JPMorgan Chase & Co. by 7.2% in the third quarter. Franklin Resources Inc. now owns 15,073,193 shares of the financial services provider’s stock valued at $3,338,955,000 after buying an additional 1,016,289 shares in the last quarter. 71.55% of the stock is owned by institutional investors and hedge funds.

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.