JPMorgan Chase & Co. (NYSE:JPM) Shares Up 1.4% – Here’s What Happened

JPMorgan Chase & Co. (NYSE:JPM) rose 1.4% during trading on Friday . The company traded as high as $248.24 and last traded at $248.17. Approximately 1,642,431 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 9,064,542 shares. The stock had previously closed at $244.76.

Analysts Set New Price Targets

JPM has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $235.00 target price on shares of JPMorgan Chase & Co. in a report on Tuesday, September 3rd. Robert W. Baird cut shares of JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 price target for the company. in a report on Thursday, November 7th. Citigroup raised 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. Barclays upped their target price on shares of JPMorgan Chase & Co. from $217.00 to $257.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Finally, Royal Bank of Canada lifted their price target on JPMorgan Chase & Co. from $211.00 to $230.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, JPMorgan Chase & Co. currently has a consensus rating of “Hold” and a consensus target price of $229.31.

JPMorgan Chase & Co. Trading Up 1.7 %

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 firm has a fifty day moving average price of $222.25 and a 200 day moving average price of $211.36. The company has a market cap of $700.51 billion, a price-to-earnings ratio of 13.82, a P/E/G ratio of 3.53 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.02 by $0.35. The firm had revenue of $43.32 billion for the quarter, compared to analyst estimates of $41.43 billion. JPMorgan Chase & Co. had a net margin of 19.64% and a return on equity of 16.71%. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.33 earnings per share. As a group, equities analysts predict that JPMorgan Chase & Co. will post 17.62 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, October 4th were paid a dividend of $1.25 per share. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. This represents a $5.00 annualized dividend and a dividend yield of 2.01%. The ex-dividend date was Friday, October 4th. JPMorgan Chase & Co.’s payout ratio is currently 27.82%.

Hedge Funds Weigh In On JPMorgan Chase & Co.

Institutional investors and hedge funds have recently modified their holdings of the stock. Accredited Investors Inc. increased its position in JPMorgan Chase & Co. by 4.9% during the 2nd quarter. Accredited Investors Inc. now owns 14,174 shares of the financial services provider’s stock worth $2,867,000 after buying an additional 667 shares during the period. Sunburst Financial Group LLC increased its position in shares of JPMorgan Chase & Co. by 5.0% in the second quarter. Sunburst Financial Group LLC now owns 5,651 shares of the financial services provider’s stock worth $1,143,000 after purchasing an additional 268 shares during the period. Sageworth Trust Co raised its stake in JPMorgan Chase & Co. by 37.9% in the third quarter. Sageworth Trust Co now owns 2,860 shares of the financial services provider’s stock valued at $603,000 after purchasing an additional 786 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of JPMorgan Chase & Co. by 16.0% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 692,809 shares of the financial services provider’s stock worth $143,594,000 after acquiring an additional 95,461 shares during the period. Finally, Czech National Bank increased its stake in JPMorgan Chase & Co. by 7.6% in the second quarter. Czech National Bank now owns 547,224 shares of the financial services provider’s stock valued at $110,682,000 after acquiring an additional 38,548 shares during the last quarter. 71.55% of the stock is currently 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.