JPMorgan Chase & Co. (NYSE:JPM) Issues Quarterly Earnings Results, Beats Expectations By $0.31 EPS

JPMorgan Chase & Co. (NYSE:JPM) released its earnings results on Friday. The financial services provider reported $4.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.06 by $0.31, RTT News reports. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.26%. The company had revenue of $43.32 billion for the quarter, compared to analyst estimates of $41.43 billion. During the same period in the prior year, the business earned $4.33 EPS. The firm’s quarterly revenue was up 6.5% on a year-over-year basis.

JPMorgan Chase & Co. Trading Down 0.3 %

NYSE JPM opened at $212.84 on Friday. JPMorgan Chase & Co. has a one year low of $135.19 and a one year high of $225.48. The firm has a market cap of $605.57 billion, a PE ratio of 11.87, a P/E/G ratio of 3.28 and a beta of 1.11. The firm’s fifty day moving average is $211.32 and its two-hundred day moving average is $203.46. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.91 and a current ratio of 0.91.

JPMorgan Chase & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, October 4th will be paid a dividend of $1.25 per share. The ex-dividend date is Friday, October 4th. This represents a $5.00 dividend on an annualized basis and a yield of 2.35%. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s dividend payout ratio is currently 27.89%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on JPM. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $235.00 price objective on shares of JPMorgan Chase & Co. in a research note on Tuesday, September 3rd. Wells Fargo & Company increased their price target on JPMorgan Chase & Co. from $220.00 to $225.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. Daiwa Capital Markets lowered their price objective on JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating for the company in a research report on Thursday. Oppenheimer raised their target price on shares of JPMorgan Chase & Co. from $221.00 to $234.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. Finally, Wolfe Research cut shares of JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a report on Monday, July 8th. Nine research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $213.47.

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.