JPMorgan Chase & Co. (NYSE:JPM) Reaches New 52-Week High on Earnings Beat

JPMorgan Chase & Co. (NYSE:JPM)’s share price hit a new 52-week high on Thursday following a better than expected earnings announcement. The stock traded as high as $256.83 and last traded at $255.03, with a volume of 2020981 shares changing hands. The stock had previously closed at $252.35.

The financial services provider reported $4.81 EPS for the quarter, beating the consensus estimate of $4.03 by $0.78. JPMorgan Chase & Co. had a net margin of 19.64% and a return on equity of 16.71%. The business had revenue of $42.77 billion for the quarter, compared to analysts’ expectations of $41.90 billion. During the same period in the previous year, the company posted $3.04 EPS. JPMorgan Chase & Co.’s revenue was up 10.9% on a year-over-year basis.

JPMorgan Chase & Co. Announces Dividend

The firm also recently announced 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 annualized dividend and a yield of 1.95%. The ex-dividend date of this dividend is Monday, January 6th. JPMorgan Chase & Co.’s payout ratio is 27.82%.

Wall Street Analysts Forecast Growth

JPM has been the subject of a number of analyst reports. Bank of America boosted their price target on JPMorgan Chase & Co. from $260.00 to $280.00 and gave the stock a “buy” rating in a research report on Tuesday, January 7th. Robert W. Baird lowered JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 target price for the company. in a report on Thursday, November 7th. Royal Bank of Canada increased their price target on JPMorgan Chase & Co. from $211.00 to $230.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Morgan Stanley lowered shares of 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 report on Monday, September 30th. Finally, Citigroup upped their price objective on shares of JPMorgan Chase & Co. from $215.00 to $250.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $246.28.

Institutional Trading of JPMorgan Chase & Co.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in JPM. Mizuho Securities Co. Ltd. acquired a new position in shares of JPMorgan Chase & Co. in the 3rd quarter worth approximately $25,000. Catalyst Capital Advisors LLC bought a new stake in JPMorgan Chase & Co. in the third quarter valued at $27,000. Fairway Wealth LLC bought a new stake in JPMorgan Chase & Co. in the second quarter valued at $32,000. West Financial Advisors LLC acquired a new position in JPMorgan Chase & Co. during the third quarter worth $37,000. Finally, New England Capital Financial Advisors LLC lifted its holdings in shares of JPMorgan Chase & Co. by 38.5% during the third quarter. New England Capital Financial Advisors LLC now owns 180 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 50 shares during the period. Institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Price Performance

The company’s 50 day moving average price is $242.60 and its 200 day moving average price is $223.51. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.89 and a current ratio of 0.89. The company has a market cap of $720.25 billion, a price-to-earnings ratio of 14.24, a P/E/G ratio of 3.16 and a beta of 1.11.

JPMorgan Chase & Co. Company Profile

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.