JPMorgan Chase & Co. (NYSE:JPM) Stock Price Up 1% – Here’s What Happened

by · The Markets Daily

JPMorgan Chase & Co. (NYSE:JPM)’s share price rose 1% during mid-day trading on Tuesday . The company traded as high as $262.15 and last traded at $261.66. Approximately 2,763,220 shares changed hands during trading, a decline of 75% from the average daily volume of 11,040,291 shares. The stock had previously closed at $259.16.

Analysts Set New Price Targets

Several research firms have recently commented on JPM. Wolfe Research upgraded shares of JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 price objective for the company in a research note on Friday, January 3rd. UBS Group increased their price objective on JPMorgan Chase & Co. from $276.00 to $287.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Evercore ISI lifted their target price on JPMorgan Chase & Co. from $217.00 to $230.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Truist Financial increased their price target on shares of JPMorgan Chase & Co. from $260.00 to $268.00 and gave the stock a “hold” rating in a report on Thursday, January 16th. Finally, Oppenheimer lowered shares of JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 20th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $251.78.

Get Our Latest Research Report on JPM

JPMorgan Chase & Co. Trading Up 1.5 %

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 firm has a market cap of $740.52 billion, a PE ratio of 13.31, a price-to-earnings-growth ratio of 2.81 and a beta of 1.11. The company’s 50 day moving average price is $243.90 and its 200 day moving average price is $224.88.

JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last announced its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $4.81 EPS for the quarter, topping analysts’ consensus estimates of $4.03 by $0.78. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. The business had revenue of $42.77 billion during the quarter, compared to the consensus estimate of $41.90 billion. During the same period in the previous year, the company posted $3.04 earnings per share. The business’s revenue for the quarter was up 10.9% on a year-over-year basis. As a group, analysts forecast that JPMorgan Chase & Co. will post 17.65 EPS for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, January 6th will be issued a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 1.90%. The ex-dividend date is Monday, January 6th. JPMorgan Chase & Co.’s payout ratio is 25.33%.

Insider Activity at JPMorgan Chase & Co.

In related news, General Counsel Stacey Friedman sold 3,303 shares of the business’s stock in a transaction dated 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 owns 47,620 shares in the company, valued at $12,092,622.80. The trade was a 6.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.79% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On JPMorgan Chase & Co.

A number of hedge funds have recently added to or reduced their stakes in the company. Mizuho Securities Co. Ltd. acquired a new position in shares of JPMorgan Chase & Co. during the 3rd quarter worth approximately $25,000. Catalyst Capital Advisors LLC purchased a new position in JPMorgan Chase & Co. during the third quarter worth $27,000. West Financial Advisors LLC acquired a new position in shares of JPMorgan Chase & Co. in the third quarter worth $37,000. New England Capital Financial Advisors LLC raised its holdings in shares of JPMorgan Chase & Co. by 38.5% in the third 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. Finally, Carolina Wealth Advisors LLC lifted its position in shares of JPMorgan Chase & Co. by 36.0% in the third quarter. Carolina Wealth Advisors LLC now owns 189 shares of the financial services provider’s stock valued at $40,000 after acquiring an additional 50 shares in the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

JPMorgan Chase & Co. Company Profile

(Get Free Report)

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.

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