JPMorgan Chase & Co. (NYSE:JPM)’s share price traded up 0.7% on Thursday . The stock traded as high as $266.86 and last traded at $264.74. 2,020,716 shares traded hands during mid-day trading, a decline of 82% from the average session volume of 11,034,813 shares. The stock had previously closed at $262.84.
Analyst Ratings Changes
Several research firms have commented on JPM. Truist Financial upped their price objective on JPMorgan Chase & Co. from $260.00 to $268.00 and gave the company a “hold” rating in a research note on Thursday, January 16th. Morgan Stanley cut JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and upped their price target for the stock from $220.00 to $224.00 in a report on Monday, September 30th. Keefe, Bruyette & Woods upped their price target on JPMorgan Chase & Co. from $257.00 to $264.00 and gave the stock a “market perform” rating in a report on Thursday, January 16th. Wells Fargo & Company increased their target price on JPMorgan Chase & Co. from $240.00 to $270.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Finally, Wolfe Research upgraded JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 target price on the stock in a report on Friday, January 3rd. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, JPMorgan Chase & Co. presently has an average rating of “Hold” and a consensus target price of $251.78.
View Our Latest Stock Report on JPMorgan Chase & Co.
JPMorgan Chase & Co. Price Performance
JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last posted its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.03 by $0.78. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. The company had revenue of $42.77 billion for the quarter, compared to analysts’ expectations of $41.90 billion. During the same quarter in the prior year, the company earned $3.04 earnings per share. The firm’s revenue was up 10.9% on a year-over-year basis. As a group, research analysts predict that JPMorgan Chase & Co. will post 17.82 earnings per share for the current fiscal year.
JPMorgan Chase & Co. Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, January 6th will be paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 1.89%. The ex-dividend date of this dividend is Monday, January 6th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 25.33%.
Insider Buying and Selling at JPMorgan Chase & Co.
In other news, General Counsel Stacey Friedman sold 3,303 shares of the company’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $253.94, for a total value of $838,763.82. Following the transaction, the general counsel now directly owns 47,620 shares of the company’s stock, valued at approximately $12,092,622.80. This represents a 6.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.79% of the company’s stock.
Institutional Investors Weigh In On JPMorgan Chase & Co.
A number of hedge funds have recently bought and sold shares of the company. Mizuho Securities Co. Ltd. acquired a new position in JPMorgan Chase & Co. in the third quarter worth about $25,000. Catalyst Capital Advisors LLC acquired a new position in JPMorgan Chase & Co. in the third quarter worth about $27,000. West Financial Advisors LLC acquired a new stake in shares of JPMorgan Chase & Co. during the third quarter worth approximately $37,000. New England Capital Financial Advisors LLC increased 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 worth $38,000 after buying an additional 50 shares in the last quarter. Finally, Carolina Wealth Advisors LLC increased its holdings in shares of JPMorgan Chase & Co. by 36.0% during the third quarter. Carolina Wealth Advisors LLC now owns 189 shares of the financial services provider’s stock worth $40,000 after buying an additional 50 shares in the last quarter. 71.55% of the stock is currently 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.
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