JPMorgan Chase & Co. (NYSE:JPM) Sets New 12-Month High – Should You Buy?

Shares of JPMorgan Chase & Co. (NYSE:JPM) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $225.60 and last traded at $224.49, with a volume of 693783 shares traded. The stock had previously closed at $223.64.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on JPM. Wolfe Research cut shares of JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a research report on Monday, July 8th. Morgan Stanley cut shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and increased their price objective for the stock from $220.00 to $224.00 in a research report on Monday, September 30th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $235.00 price target on shares of JPMorgan Chase & Co. in a research report on Tuesday, September 3rd. Oppenheimer decreased their price objective on JPMorgan Chase & Co. from $234.00 to $232.00 and set an “outperform” rating for the company in a report on Monday. Finally, BMO Capital Markets increased their price objective on JPMorgan Chase & Co. from $195.00 to $205.00 and gave the stock a “market perform” rating in a research note on Thursday, July 11th. Nine investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $217.94.

JPMorgan Chase & Co. Trading Up 1.0 %

The firm has a fifty day simple moving average of $213.22 and a two-hundred day simple moving average of $204.17. The firm has a market capitalization of $648.37 billion, a P/E ratio of 12.57, a price-to-earnings-growth ratio of 3.28 and a beta of 1.11. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.91 and a quick ratio of 0.91.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data on Friday, October 11th. The financial services provider reported $4.37 earnings per share for the quarter, beating the consensus estimate of $4.02 by $0.35. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. The business had revenue of $43.32 billion during the quarter, compared to analyst estimates of $41.43 billion. During the same period in the prior year, the company earned $4.33 earnings per share. JPMorgan Chase & Co.’s revenue was up 6.5% compared to the same quarter last year. On average, equities research analysts anticipate that JPMorgan Chase & Co. will post 16.75 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 4th will be issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 2.21%. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date is Friday, October 4th. JPMorgan Chase & Co.’s dividend payout ratio is 27.89%.

Hedge Funds Weigh In On JPMorgan Chase & Co.

Several institutional investors and hedge funds have recently bought and sold shares of JPM. Henrickson Nauta Wealth Advisors Inc. boosted its holdings in shares of JPMorgan Chase & Co. by 1.3% in the third quarter. Henrickson Nauta Wealth Advisors Inc. now owns 3,436 shares of the financial services provider’s stock worth $725,000 after acquiring an additional 45 shares during the period. Instrumental Wealth LLC boosted its holdings in shares of JPMorgan Chase & Co. by 4.5% in the second quarter. Instrumental Wealth LLC now owns 1,101 shares of the financial services provider’s stock worth $230,000 after acquiring an additional 47 shares during the period. Gemmer Asset Management LLC boosted its holdings in shares of JPMorgan Chase & Co. by 1.6% in the second quarter. Gemmer Asset Management LLC now owns 3,135 shares of the financial services provider’s stock worth $634,000 after acquiring an additional 48 shares during the period. Great Point Wealth Advisors LLC boosted its holdings in shares of JPMorgan Chase & Co. by 0.9% in the second quarter. Great Point Wealth Advisors LLC now owns 5,690 shares of the financial services provider’s stock worth $1,151,000 after acquiring an additional 48 shares during the period. Finally, Braun Bostich & Associates Inc. boosted its holdings in shares of JPMorgan Chase & Co. by 1.4% in the third quarter. Braun Bostich & Associates Inc. now owns 3,530 shares of the financial services provider’s stock worth $744,000 after acquiring an additional 48 shares during the period. 71.55% of the stock is owned by institutional investors.

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.