JPMorgan Chase & Co. (NYSE:JPM) Shares Up 4.5% After Earnings Beat

JPMorgan Chase & Co. (NYSE:JPM)’s stock price shot up 4.5% during mid-day trading on Friday following a better than expected earnings announcement. The company traded as high as $223.87 and last traded at $222.40. 6,867,133 shares were traded during trading, a decline of 24% from the average session volume of 9,091,286 shares. The stock had previously closed at $212.84.

The financial services provider reported $4.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.06 by $0.31. The firm had revenue of $43.32 billion for the quarter, compared to analyst estimates of $41.43 billion. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. The firm’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period last year, the company earned $4.33 EPS.

JPMorgan Chase & Co. Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 4th will be paid a dividend of $1.25 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $5.00 dividend on an annualized basis and a yield of 2.25%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 27.89%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on JPM shares. Wells Fargo & Company upped their price objective on JPMorgan Chase & Co. from $220.00 to $225.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. Oppenheimer upped their price target on JPMorgan Chase & Co. from $221.00 to $234.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 2nd. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $235.00 price target on shares of JPMorgan Chase & Co. in a research report on Tuesday, September 3rd. Evercore ISI raised their target price on JPMorgan Chase & Co. from $210.00 to $211.00 and gave the company an “outperform” rating in a report on Monday, July 15th. Finally, Jefferies Financial Group increased their price objective on shares of JPMorgan Chase & Co. from $230.00 to $239.00 and gave the company a “buy” rating in a research report on Wednesday, July 3rd. Nine analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, JPMorgan Chase & Co. currently has a consensus rating of “Moderate Buy” and a consensus price target of $213.47.

Read Our Latest Report on JPM

Institutional Investors Weigh In On JPMorgan Chase & Co.

A number of institutional investors have recently modified their holdings of JPM. Retirement Group LLC increased its position in JPMorgan Chase & Co. by 227.1% in the first quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock worth $31,000 after buying an additional 109 shares during the period. Fairway Wealth LLC acquired a new position in JPMorgan Chase & Co. during the 2nd quarter valued at about $32,000. Richardson Capital Management LLC bought a new position in shares of JPMorgan Chase & Co. in the first quarter worth $34,000. Anfield Capital Management LLC acquired a new stake in JPMorgan Chase & Co. in the second quarter worth about $34,000. Finally, West Financial Advisors LLC bought a new position in JPMorgan Chase & Co. in the 3rd quarter valued at about $37,000. Institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

The stock has a market cap of $632.42 billion, a price-to-earnings ratio of 12.40, a PEG ratio of 3.28 and a beta of 1.11. The company’s 50 day simple moving average is $211.32 and its 200 day simple moving average is $203.46. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.91 and a current ratio of 0.91.

JPMorgan Chase & Co. Company Profile

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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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