JPMorgan Chase & Co. (NYSE:JPM) Shares Up 1.2% – Here’s Why

JPMorgan Chase & Co. (NYSE:JPM) shot up 1.2% during trading on Wednesday . The company traded as high as $254.67 and last traded at $254.24. 4,658,877 shares traded hands during mid-day trading, a decline of 47% from the average session volume of 8,839,432 shares. The stock had previously closed at $251.13.

Wall Street Analyst Weigh In

JPM has been the subject of a number of recent research reports. Piper Sandler raised their price target on JPMorgan Chase & Co. from $240.00 to $275.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 3rd. Bank of America raised their price objective on shares of JPMorgan Chase & Co. from $260.00 to $280.00 and gave the company a “buy” rating in a research report on Tuesday, January 7th. Robert W. Baird raised shares of JPMorgan Chase & Co. from an “underperform” rating to a “neutral” rating and boosted their target price for the stock from $215.00 to $220.00 in a research report on Friday, March 7th. Truist Financial raised their price target on shares of JPMorgan Chase & Co. from $260.00 to $268.00 and gave the company a “hold” rating in a report on Thursday, January 16th. Finally, Wolfe Research upgraded shares of JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 price objective for the company in a report on Friday, January 3rd. Ten research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, JPMorgan Chase & Co. has an average rating of “Moderate Buy” and a consensus target price of $252.89.

JPMorgan Chase & Co. Price Performance

The company has a quick ratio of 0.89, a current ratio of 0.88 and a debt-to-equity ratio of 1.24. The stock’s 50-day moving average is $258.02 and its 200-day moving average is $239.98. The firm has a market cap of $705.73 billion, a P/E ratio of 12.76, a price-to-earnings-growth ratio of 2.83 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $4.81 EPS for the quarter, beating analysts’ consensus estimates of $4.03 by $0.78. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The business had revenue of $42.77 billion during the quarter, compared to analyst estimates of $41.90 billion. During the same quarter in the prior year, the business earned $3.04 earnings per share. The firm’s revenue for the quarter was up 10.9% on a year-over-year basis. As a group, equities analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Friday, April 4th will be given a $1.40 dividend. The ex-dividend date is Friday, April 4th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.22%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 28.37%.

Insider Activity

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 3,303 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $253.94, for a total transaction of $838,763.82. Following the sale, the general counsel now directly owns 47,620 shares of the company’s stock, valued at approximately $12,092,622.80. The trade was a 6.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Troy L. Rohrbaugh sold 37,500 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $269.84, for a total value of $10,119,000.00. Following the completion of the transaction, the chief executive officer now directly owns 158,381 shares of the company’s stock, valued at approximately $42,737,529.04. The trade was a 19.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 76,848 shares of company stock worth $19,987,908. Company insiders own 0.79% of the company’s stock.

Institutional Trading of JPMorgan Chase & Co.

Several institutional investors have recently bought and sold shares of the stock. Redwood Park Advisors LLC acquired a new position in JPMorgan Chase & Co. in the fourth quarter worth $29,000. Sellwood Investment Partners LLC bought a new position in shares of JPMorgan Chase & Co. in the fourth quarter valued at about $34,000. Investment Counsel Co. of Nevada acquired a new position in JPMorgan Chase & Co. during the 4th quarter worth about $37,000. Midwest Capital Advisors LLC bought a new stake in JPMorgan Chase & Co. during the 4th quarter worth about $43,000. Finally, Prudent Man Investment Management Inc. bought a new stake in JPMorgan Chase & Co. during the 4th quarter worth about $43,000. Institutional investors and hedge funds own 71.55% of the company’s stock.

About JPMorgan Chase & Co.

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. The firm offers a range of investment banking products and services in all capital markets, including advising on corporate strategy and structure, capital raising in equity and debt markets, risk management, market making in cash securities and derivative instruments, and brokerage and research.