JPMorgan Chase & Co. (NYSE:JPM) Shares Up 0.6% – Here’s Why

JPMorgan Chase & Co. (NYSE:JPM)’s share price traded up 0.6% during trading on Friday . The company traded as high as $244.88 and last traded at $241.36. 2,128,591 shares were traded during trading, a decline of 62% from the average session volume of 5,540,587 shares. The stock had previously closed at $240.00.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Wells Fargo & Company increased their price target on shares of JPMorgan Chase & Co. from $240.00 to $270.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Barclays boosted their target price on shares of JPMorgan Chase & Co. from $217.00 to $257.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Keefe, Bruyette & Woods increased their price target on JPMorgan Chase & Co. from $216.00 to $254.00 and gave the stock a “market perform” rating in a research report on Tuesday, December 3rd. Piper Sandler boosted their price objective on JPMorgan Chase & Co. from $240.00 to $275.00 and gave the company an “overweight” rating in a report on Tuesday, December 3rd. Finally, Baird R W lowered JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a report on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, JPMorgan Chase & Co. currently has an average rating of “Hold” and a consensus price target of $236.82.

JPMorgan Chase & Co. Stock Performance

The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.27. The stock’s fifty day simple moving average is $239.32 and its 200 day simple moving average is $220.65. The company has a market cap of $680.24 billion, a price-to-earnings ratio of 13.45, a P/E/G ratio of 3.54 and a beta of 1.11.

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

JPMorgan Chase & Co. Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, January 6th will be given a dividend of $1.25 per share. The ex-dividend date is Monday, January 6th. This represents a $5.00 annualized dividend and a dividend yield of 2.07%. JPMorgan Chase & Co.’s payout ratio is 27.82%.

Institutional Investors Weigh In On JPMorgan Chase & Co.

Hedge funds and other institutional investors have recently bought and sold shares of the company. First Citizens Financial Corp increased its holdings in shares of JPMorgan Chase & Co. by 3.4% during the 4th quarter. First Citizens Financial Corp now owns 10,851 shares of the financial services provider’s stock worth $2,601,000 after buying an additional 360 shares during the last quarter. Modus Advisors LLC grew its position in JPMorgan Chase & Co. by 0.7% in the fourth quarter. Modus Advisors LLC now owns 26,662 shares of the financial services provider’s stock worth $6,391,000 after acquiring an additional 194 shares during the period. GAMMA Investing LLC increased its stake in JPMorgan Chase & Co. by 11.0% during the fourth quarter. GAMMA Investing LLC now owns 90,733 shares of the financial services provider’s stock worth $21,750,000 after acquiring an additional 9,008 shares during the last quarter. Versant Capital Management Inc raised its position in JPMorgan Chase & Co. by 37.1% in the fourth quarter. Versant Capital Management Inc now owns 3,797 shares of the financial services provider’s stock valued at $910,000 after purchasing an additional 1,028 shares during the period. Finally, Global Wealth Strategies & Associates lifted its stake in shares of JPMorgan Chase & Co. by 74.5% in the 4th quarter. Global Wealth Strategies & Associates now owns 1,136 shares of the financial services provider’s stock valued at $272,000 after purchasing an additional 485 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.