JPMorgan Chase & Co. (NYSE:JPM) Trading 0.6% Higher Following Better-Than-Expected Earnings

JPMorgan Chase & Co. (NYSE:JPM)’s share price traded up 0.6% on Thursday following a better than expected earnings announcement. The stock traded as high as $257.04 and last traded at $253.78. 6,079,785 shares changed hands during trading, a decline of 41% from the average session volume of 10,279,314 shares. The stock had previously closed at $252.35.

The financial services provider reported $4.81 EPS for the quarter, beating the consensus estimate of $4.03 by $0.78. The company had revenue of $42.77 billion for the quarter, compared to analysts’ expectations of $41.90 billion. JPMorgan Chase & Co. had a return on equity of 16.71% and a net margin of 19.64%. JPMorgan Chase & Co.’s revenue was up 10.9% compared to the same quarter last year. During the same period last year, the firm posted $3.04 earnings per share.

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 paid a $1.25 dividend. The ex-dividend date of this dividend is Monday, January 6th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.97%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 27.82%.

Analysts Set New Price Targets

JPM has been the subject of several research reports. Baird R W lowered shares of JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 7th. Wells Fargo & Company raised their target price on JPMorgan Chase & Co. from $240.00 to $270.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Evercore ISI boosted their price objective on JPMorgan Chase & Co. from $217.00 to $230.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. 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 research note on Tuesday, December 3rd. Finally, Keefe, Bruyette & Woods upped their price target on shares of 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. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $246.28.

Institutional Investors Weigh In On JPMorgan Chase & Co.

Several institutional investors have recently made changes to their positions in JPM. Mizuho Securities Co. Ltd. bought a new stake in shares of JPMorgan Chase & Co. in the 3rd quarter worth about $25,000. Catalyst Capital Advisors LLC bought a new stake in JPMorgan Chase & Co. in the third quarter worth about $27,000. Fairway Wealth LLC bought a new stake in JPMorgan Chase & Co. in the second quarter worth about $32,000. West Financial Advisors LLC bought a new stake in JPMorgan Chase & Co. in the third quarter worth about $37,000. Finally, New England Capital Financial Advisors LLC lifted its stake in shares of JPMorgan Chase & Co. by 38.5% during the 3rd quarter. New England Capital Financial Advisors LLC now owns 180 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 50 shares during the last quarter. Institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Price 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 has a market capitalization of $713.58 billion, a P/E ratio of 14.10, a price-to-earnings-growth ratio of 3.16 and a beta of 1.11. The stock has a 50 day moving average of $242.60 and a 200-day moving average of $223.51.

JPMorgan Chase & Co. Company Profile

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.