JPMorgan Chase & Co. (NYSE:JPM) Upgraded at Wolfe Research

Wolfe Research upgraded shares of JPMorgan Chase & Co. (NYSE:JPM) from a peer perform rating to an outperform rating in a research report released on Friday morning, Marketbeat Ratings reports. They currently have $269.00 target price on the financial services provider’s stock.

Several other research analysts also recently commented on JPM. Evercore ISI raised their price objective on JPMorgan Chase & Co. from $217.00 to $230.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Keefe, Bruyette & Woods raised 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 research note on Tuesday, December 3rd. Piper Sandler upped their price target on shares of JPMorgan Chase & Co. from $240.00 to $275.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 3rd. Morgan Stanley cut shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and increased their price objective for the stock from $220.00 to $224.00 in a research note on Monday, September 30th. Finally, Barclays lifted 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 note on Monday, October 14th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $239.88.

JPMorgan Chase & Co. Stock Up 1.4 %

JPM stock opened at $243.28 on Friday. The firm has a market cap of $684.92 billion, a PE ratio of 13.54, a price-to-earnings-growth ratio of 3.54 and a beta of 1.11. The business has a 50 day moving average of $239.74 and a 200 day moving average of $221.33. JPMorgan Chase & Co. has a twelve month low of $164.30 and a twelve month high of $254.31. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.27.

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

JPMorgan Chase & Co. Announces Dividend

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Mizuho Securities Co. Ltd. purchased a new position in shares of JPMorgan Chase & Co. in the 3rd quarter worth $25,000. Catalyst Capital Advisors LLC bought a new position in shares of JPMorgan Chase & Co. in the 3rd quarter valued at about $27,000. Fairway Wealth LLC purchased a new position in JPMorgan Chase & Co. in the second quarter worth about $32,000. West Financial Advisors LLC bought a new stake in JPMorgan Chase & Co. during the third quarter worth approximately $37,000. Finally, New England Capital Financial Advisors LLC raised its position in JPMorgan Chase & Co. by 38.5% during the third quarter. New England Capital Financial Advisors LLC now owns 180 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 50 shares during the period. 71.55% of the stock is currently owned by institutional investors.

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.