JPMorgan Chase & Co. (NYSE:JPM) Trading 2.2% Higher – Here’s Why

JPMorgan Chase & Co. (NYSE:JPM)’s stock price shot up 2.2% on Monday . The company traded as high as $247.31 and last traded at $246.86. 2,340,650 shares traded hands during mid-day trading, a decline of 74% from the average session volume of 8,841,882 shares. The stock had previously closed at $241.63.

Analyst Ratings Changes

A number of research analysts recently commented on JPM shares. Baird R W upgraded shares of JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a research note on Friday, March 7th. Bank of America increased their target price on shares of JPMorgan Chase & Co. from $260.00 to $280.00 and gave the company a “buy” rating in a research note on Tuesday, January 7th. Truist Financial lifted their price target on shares of 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 increased their price objective on JPMorgan Chase & Co. from $257.00 to $264.00 and gave the company a “market perform” rating in a research report on Thursday, January 16th. Finally, Barclays lifted their target price on JPMorgan Chase & Co. from $304.00 to $330.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Ten research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $252.89.

JPMorgan Chase & Co. Trading Up 1.2 %

The company has a market cap of $701.79 billion, a price-to-earnings ratio of 12.71, a price-to-earnings-growth ratio of 2.83 and a beta of 1.10. The company’s 50 day moving average price is $258.02 and its 200 day moving average price is $239.98. 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 posted its earnings results on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share 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 analyst estimates of $41.90 billion. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. The business’s revenue was up 10.9% compared to the same quarter last year. During the same period last year, the company earned $3.04 earnings per share. Research analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Friday, April 4th will be paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.23%. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. The ex-dividend date of this dividend is Friday, April 4th. JPMorgan Chase & Co.’s payout ratio is presently 28.37%.

Insider Buying and Selling

In other news, insider Robin Leopold sold 1,250 shares of JPMorgan Chase & Co. stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $246.92, for a total value of $308,650.00. Following the transaction, the insider now directly owns 49,127 shares in the company, valued at approximately $12,130,438.84. The trade was a 2.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Troy L. Rohrbaugh sold 25,000 shares of the stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $247.02, for a total value of $6,175,500.00. Following the sale, the chief executive officer now owns 133,381 shares of the company’s stock, valued at approximately $32,947,774.62. The trade was a 15.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 76,848 shares of company stock worth $19,987,908 in the last quarter. 0.79% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On JPMorgan Chase & Co.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Higgins & Schmidt Wealth Strategies LLC bought a new stake in shares of JPMorgan Chase & Co. in the fourth quarter valued at about $217,000. Fire Capital Management LLC bought a new position in JPMorgan Chase & Co. during the fourth quarter worth about $4,823,000. Mascagni Wealth Management Inc. acquired a new stake in JPMorgan Chase & Co. during the fourth quarter valued at approximately $81,000. Prostatis Group LLC raised its holdings in shares of JPMorgan Chase & Co. by 8.9% in the 4th quarter. Prostatis Group LLC now owns 3,682 shares of the financial services provider’s stock worth $883,000 after buying an additional 300 shares in the last quarter. Finally, M1 Capital Management LLC bought a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth approximately $531,000. Institutional investors own 71.55% of the company’s stock.

About JPMorgan Chase & Co.

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.