JPMorgan Chase & Co. (NYSE:JPM) Posts Earnings Results, Beats Estimates By $0.44 EPS

JPMorgan Chase & Co. (NYSE:JPM) announced its quarterly earnings results on Friday. The financial services provider reported $5.07 EPS for the quarter, beating analysts’ consensus estimates of $4.63 by $0.44, Zacks reports. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The firm had revenue of $45.30 billion during the quarter, compared to the consensus estimate of $43.62 billion. During the same quarter last year, the firm earned $4.44 EPS. The firm’s revenue for the quarter was up 8.0% compared to the same quarter last year.

JPMorgan Chase & Co. Stock Up 4.0 %

NYSE JPM traded up $9.15 during midday trading on Friday, hitting $236.26. 17,451,171 shares of the company traded hands, compared to its average volume of 9,731,999. JPMorgan Chase & Co. has a 52 week low of $179.20 and a 52 week high of $280.25. The company’s 50-day simple moving average is $249.53 and its 200-day simple moving average is $241.85. The company has a market cap of $660.60 billion, a PE ratio of 11.97, a price-to-earnings-growth ratio of 2.83 and a beta of 1.01. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.88 and a quick ratio of 0.89.

JPMorgan Chase & Co. Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Friday, April 4th will be paid a $1.40 dividend. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. The ex-dividend date is Friday, April 4th. This represents a $5.60 dividend on an annualized basis and a yield of 2.37%. JPMorgan Chase & Co.’s payout ratio is 28.37%.

Insider Buying and Selling

In other JPMorgan Chase & Co. news, insider Robin Leopold sold 1,250 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $270.09, for a total transaction of $337,612.50. Following the completion of the sale, the insider now directly owns 50,377 shares of the company’s stock, valued at approximately $13,606,323.93. This represents a 2.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Troy L. Rohrbaugh sold 37,500 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $269.84, for a total transaction of $10,119,000.00. Following the completion of the transaction, the chief executive officer now directly owns 158,381 shares in the company, valued at approximately $42,737,529.04. The trade was a 19.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 76,848 shares of company stock worth $19,987,908 in the last three months. 0.79% of the stock is owned by insiders.

Institutional Trading of JPMorgan Chase & Co.

An institutional investor recently raised its position in JPMorgan Chase & Co. stock. Brighton Jones LLC boosted its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 11.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,732 shares of the financial services provider’s stock after buying an additional 4,841 shares during the period. Brighton Jones LLC’s holdings in JPMorgan Chase & Co. were worth $11,682,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds own 71.55% of the company’s stock.

Analyst Upgrades and Downgrades

JPM has been the topic of several recent research reports. Barclays increased their price target on JPMorgan Chase & Co. from $304.00 to $330.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Robert W. Baird raised shares of JPMorgan Chase & Co. from an “underperform” rating to a “neutral” rating and increased their target price for the company from $215.00 to $220.00 in a research note on Friday, March 7th. Keefe, Bruyette & Woods lifted their price target on shares of JPMorgan Chase & Co. from $257.00 to $264.00 and gave the stock a “market perform” rating in a research note on Thursday, January 16th. Truist Financial reduced their price objective on shares of JPMorgan Chase & Co. from $268.00 to $264.00 and set a “hold” rating on the stock in a research report on Friday, April 4th. Finally, Baird R W raised shares of JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a research note on Friday, March 7th. Ten research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $254.83.

About JPMorgan Chase & Co.

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.