JPMorgan Chase & Co. (NYSE:JPM) Trading Up 0.8% – Here’s Why

Shares of JPMorgan Chase & Co. (NYSE:JPM) shot up 0.8% during trading on Friday . The stock traded as high as $239.34 and last traded at $238.16. 2,807,133 shares traded hands during mid-day trading, a decline of 69% from the average session volume of 9,064,246 shares. The stock had previously closed at $236.38.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on JPM. Citigroup boosted their price objective on JPMorgan Chase & Co. from $205.00 to $215.00 and gave the company a “neutral” rating in a research note on Monday, July 15th. Morgan Stanley lowered JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and upped their target price for the stock from $220.00 to $224.00 in a research report on Monday, September 30th. Daiwa Capital Markets lowered their price objective on shares of JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating on the stock in a report on Thursday, October 10th. Oppenheimer raised their price target on shares of JPMorgan Chase & Co. from $232.00 to $241.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. Finally, Baird R W downgraded JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a report on Thursday. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $224.31.

JPMorgan Chase & Co. Price Performance

The company has a debt-to-equity ratio of 1.27, a current ratio of 0.89 and a quick ratio of 0.89. The stock has a market cap of $667.18 billion, a PE ratio of 13.19, a PEG ratio of 3.61 and a beta of 1.10. The firm has a 50-day moving average of $217.24 and a 200-day moving average of $208.24.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data on Friday, October 11th. The financial services provider reported $4.37 earnings per share for the quarter, topping analysts’ consensus estimates of $4.02 by $0.35. JPMorgan Chase & Co. had a net margin of 19.64% and a return on equity of 16.71%. 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 company posted $4.33 EPS. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. Research analysts predict that JPMorgan Chase & Co. will post 17.52 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 4th were given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 2.11%. The ex-dividend date was Friday, October 4th. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s payout ratio is currently 27.82%.

Institutional Trading of JPMorgan Chase & Co.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. International Assets Investment Management LLC acquired a new stake in JPMorgan Chase & Co. in the 3rd quarter worth about $1,888,088,000. Swedbank AB acquired a new position in JPMorgan Chase & Co. in the 1st quarter valued at about $800,130,000. Capital Research Global Investors increased its position in shares of JPMorgan Chase & Co. by 23.3% during the first quarter. Capital Research Global Investors now owns 17,200,124 shares of the financial services provider’s stock worth $3,445,185,000 after acquiring an additional 3,252,451 shares during the period. Wulff Hansen & CO. lifted its stake in JPMorgan Chase & Co. by 19,920.7% in the second quarter. Wulff Hansen & CO. now owns 2,801,503 shares of the financial services provider’s stock worth $566,632,000 after acquiring an additional 2,787,510 shares during the last quarter. Finally, Granite Bay Wealth Management LLC boosted its position in shares of JPMorgan Chase & Co. by 6,239.1% during the 2nd quarter. Granite Bay Wealth Management LLC now owns 1,418,572 shares of the financial services provider’s stock worth $277,456,000 after acquiring an additional 1,396,194 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.