JPMorgan Chase & Co. (NYSE:JPM) Price Target Cut to $284.00 by Analysts at Bank of America

JPMorgan Chase & Co. (NYSE:JPM) had its target price trimmed by Bank of America from $285.00 to $284.00 in a report released on Wednesday morning,Benzinga reports. They currently have a buy rating on the financial services provider’s stock.

Other research analysts have also recently issued research reports about the company. Truist Financial increased their price objective on JPMorgan Chase & Co. from $260.00 to $268.00 and gave the stock a “hold” rating in a research report on Thursday, January 16th. Keefe, Bruyette & Woods raised their price target on shares of JPMorgan Chase & Co. from $257.00 to $264.00 and gave the stock a “market perform” rating in a research report on Thursday, January 16th. Evercore ISI cut their price objective on shares of JPMorgan Chase & Co. from $273.00 to $265.00 and set an “outperform” rating for the company in a report on Tuesday. Baird R W raised shares of JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a report on Friday, March 7th. Finally, Wolfe Research upgraded JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 price target for the company in a research note on Friday, January 3rd. Ten analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $255.06.

JPMorgan Chase & Co. Stock Performance

Shares of JPM stock opened at $246.10 on Wednesday. JPMorgan Chase & Co. has a 52 week low of $179.20 and a 52 week high of $280.25. The company has a market capitalization of $688.12 billion, a price-to-earnings ratio of 12.47, a PEG ratio of 2.83 and a beta of 1.10. The company has a 50-day simple moving average of $256.54 and a 200 day simple moving average of $241.36. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.89 and a current ratio of 0.88.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $42.77 billion during the quarter, compared to the consensus estimate of $41.90 billion. During the same period last year, the business posted $3.04 earnings per share. The business’s revenue for the quarter was up 10.9% compared to the same quarter last year. On average, sell-side analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Friday, April 4th will be paid a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date of this dividend is Friday, April 4th. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. JPMorgan Chase & Co.’s payout ratio is presently 28.37%.

Insider Transactions at JPMorgan Chase & Co.

In other news, COO Jennifer Piepszak sold 4,273 shares of JPMorgan Chase & Co. stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $269.85, for a total transaction of $1,153,069.05. Following the sale, the chief operating officer now directly owns 54,469 shares of the company’s stock, valued at approximately $14,698,459.65. This trade represents a 7.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, General Counsel Stacey Friedman sold 3,303 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the general counsel now directly owns 47,620 shares of the company’s stock, valued at $12,092,622.80. This represents a 6.49 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 76,848 shares of company stock worth $19,987,908. Corporate insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On JPMorgan Chase & Co.

Institutional investors have recently added to or reduced their stakes in the business. Disciplined Investments LLC bought a new stake in shares of JPMorgan Chase & Co. in the fourth quarter worth $217,000. LGT Group Foundation grew its position in shares of JPMorgan Chase & Co. by 2.8% in the 4th quarter. LGT Group Foundation now owns 525,801 shares of the financial services provider’s stock valued at $126,040,000 after buying an additional 14,300 shares during the last quarter. Kinsale Capital Group Inc. increased its stake in shares of JPMorgan Chase & Co. by 11.1% in the fourth quarter. Kinsale Capital Group Inc. now owns 43,732 shares of the financial services provider’s stock valued at $10,483,000 after buying an additional 4,375 shares during the period. Jag Capital Management LLC raised its position in shares of JPMorgan Chase & Co. by 10.5% during the fourth quarter. Jag Capital Management LLC now owns 1,474 shares of the financial services provider’s stock worth $353,000 after acquiring an additional 140 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in shares of JPMorgan Chase & Co. by 7.7% in the third quarter. JPMorgan Chase & Co. now owns 4,450,775 shares of the financial services provider’s stock worth $938,491,000 after acquiring an additional 319,730 shares during the period. 71.55% of the stock is owned by institutional investors.

JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.