JPMorgan Chase & Co. (NYSE:JPM) Trading Up 0.6% – What’s Next?

JPMorgan Chase & Co. (NYSE:JPM)’s stock price shot up 0.6% during mid-day trading on Tuesday . The stock traded as high as $269.84 and last traded at $268.30. 1,189,036 shares were traded during mid-day trading, a decline of 88% from the average session volume of 9,956,921 shares. The stock had previously closed at $266.81.

Analysts Set New Price Targets

A number of research firms have recently issued reports on JPM. Bank of America upped their price objective on JPMorgan Chase & Co. from $260.00 to $280.00 and gave the stock a “buy” rating in a report on Tuesday, January 7th. Royal Bank of Canada increased their price target on shares of JPMorgan Chase & Co. from $211.00 to $230.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Wells Fargo & Company lifted their price target on shares of JPMorgan Chase & Co. from $240.00 to $270.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Baird R W cut shares of JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 7th. Finally, Wolfe Research upgraded shares of JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 target price on the stock in a research report on Friday, January 3rd. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, JPMorgan Chase & Co. currently has a consensus rating of “Hold” and an average target price of $251.78.

JPMorgan Chase & Co. Trading Up 0.3 %

The company has a debt-to-equity ratio of 1.24, a current ratio of 0.88 and a quick ratio of 0.89. The stock’s 50 day moving average is $248.25 and its 200-day moving average is $228.90. The company has a market capitalization of $753.55 billion, a P/E ratio of 13.56, a P/E/G ratio of 2.87 and a beta of 1.12.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $42.77 billion during the quarter, compared to analysts’ expectations of $41.90 billion. During the same period last year, the company posted $3.04 EPS. JPMorgan Chase & Co.’s revenue was up 10.9% on a year-over-year basis. As a group, equities research analysts anticipate that JPMorgan Chase & Co. will post 17.82 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Monday, January 6th were issued a dividend of $1.25 per share. The ex-dividend date of this dividend was Monday, January 6th. This represents a $5.00 annualized dividend and a dividend yield of 1.87%. JPMorgan Chase & Co.’s payout ratio is presently 25.33%.

Insider Buying and Selling

In related news, General Counsel Stacey Friedman sold 3,303 shares of the company’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $253.94, for a total value of $838,763.82. Following the transaction, the general counsel now directly owns 47,620 shares of the company’s stock, valued at approximately $12,092,622.80. This represents a 6.49 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.79% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On JPMorgan Chase & Co.

Hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC grew its stake in shares of JPMorgan Chase & Co. by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 58,344,186 shares of the financial services provider’s stock valued at $12,258,346,000 after purchasing an additional 505,830 shares during the period. Fisher Asset Management LLC grew its position in JPMorgan Chase & Co. by 31.7% during the third quarter. Fisher Asset Management LLC now owns 16,784,272 shares of the financial services provider’s stock valued at $3,539,132,000 after buying an additional 4,043,841 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in JPMorgan Chase & Co. by 2.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 15,084,919 shares of the financial services provider’s stock valued at $3,180,806,000 after buying an additional 302,592 shares during the last quarter. Franklin Resources Inc. raised its position in JPMorgan Chase & Co. by 7.2% in the third quarter. Franklin Resources Inc. now owns 15,073,193 shares of the financial services provider’s stock worth $3,338,955,000 after acquiring an additional 1,016,289 shares during the period. Finally, International Assets Investment Management LLC purchased a new position in shares of JPMorgan Chase & Co. during the 3rd quarter worth $1,888,088,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. The firm offers a range of investment banking products and services in all capital markets, including advising on corporate strategy and structure, capital raising in equity and debt markets, risk management, market making in cash securities and derivative instruments, and brokerage and research.