JPMorgan Chase & Co. (NYSE:JPM) Stock Price Up 1.3% – Here’s Why

JPMorgan Chase & Co. (NYSE:JPM) traded up 1.3% during mid-day trading on Tuesday . The company traded as high as $241.48 and last traded at $241.42. 1,278,544 shares traded hands during trading, a decline of 86% from the average session volume of 9,070,980 shares. The stock had previously closed at $238.39.

Wall Street Analysts Forecast Growth

JPM has been the topic of a number of analyst reports. Wells Fargo & Company lifted their price target on JPMorgan Chase & Co. from $240.00 to $270.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Keefe, Bruyette & Woods boosted their target price on shares of JPMorgan Chase & Co. from $216.00 to $254.00 and gave the stock a “market perform” rating in a report on Tuesday, December 3rd. Evercore ISI raised their price target on shares of JPMorgan Chase & Co. from $217.00 to $230.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $235.00 price objective on shares of JPMorgan Chase & Co. in a research note on Tuesday, September 3rd. Finally, Daiwa Capital Markets decreased their target price on shares of JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating for the company in a research report on Thursday, October 10th. Two 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. According to data from MarketBeat.com, JPMorgan Chase & Co. has a consensus rating of “Hold” and a consensus target price of $234.81.

JPMorgan Chase & Co. Stock Performance

The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.27. The stock has a market capitalization of $682.19 billion, a PE ratio of 13.48, a PEG ratio of 3.54 and a beta of 1.11. The firm has a 50 day moving average price of $236.60 and a 200-day moving average price of $218.45.

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

JPMorgan Chase & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, January 6th will be given a dividend of $1.25 per share. The ex-dividend date of this dividend is Monday, January 6th. This represents a $5.00 dividend on an annualized basis and a yield of 2.06%. JPMorgan Chase & Co.’s dividend payout ratio is presently 27.82%.

Institutional Trading of JPMorgan Chase & Co.

Hedge funds have recently modified their holdings of the stock. Mizuho Securities Co. Ltd. purchased a new stake in JPMorgan Chase & Co. in the 3rd quarter worth approximately $25,000. Catalyst Capital Advisors LLC purchased a new stake in JPMorgan Chase & Co. during the third quarter worth $27,000. Fairway Wealth LLC acquired a new stake in JPMorgan Chase & Co. during the second quarter valued at $32,000. Anfield Capital Management LLC purchased a new position in JPMorgan Chase & Co. in the second quarter valued at $34,000. Finally, West Financial Advisors LLC acquired a new position in shares of JPMorgan Chase & Co. in the third quarter worth about $37,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

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.