JPMorgan Chase & Co. (NYSE:JPM) Shares Up 0.8% – Here’s Why

Shares of JPMorgan Chase & Co. (NYSE:JPM) rose 0.8% during trading on Thursday . The company traded as high as $225.80 and last traded at $225.33. Approximately 1,784,344 shares changed hands during trading, a decline of 80% from the average daily volume of 9,096,279 shares. The stock had previously closed at $223.64.

Analysts Set New Price Targets

Several brokerages have recently weighed in on JPM. Royal Bank of Canada increased their price objective 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. Piper Sandler boosted their price objective on JPMorgan Chase & Co. from $220.00 to $230.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. StockNews.com upgraded JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research note on Saturday, July 13th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $235.00 price target on shares of JPMorgan Chase & Co. in a research note on Tuesday, September 3rd. Finally, Keefe, Bruyette & Woods increased their price objective on JPMorgan Chase & Co. from $209.00 to $211.00 and gave the stock a “market perform” rating in a research report on Tuesday, July 9th. Nine research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $217.94.

JPMorgan Chase & Co. Price Performance

The firm has a market capitalization of $644.98 billion, a P/E ratio of 12.53, a PEG ratio of 3.28 and a beta of 1.11. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 1.24. The business’s 50 day moving average is $213.22 and its 200-day moving average is $204.17.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.02 by $0.35. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. The company had revenue of $43.32 billion for the quarter, compared to analyst estimates of $41.43 billion. During the same quarter last year, the company posted $4.33 EPS. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. As a group, sell-side analysts predict that JPMorgan Chase & Co. will post 16.75 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 4th will be paid a dividend of $1.25 per share. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date of this dividend is Friday, October 4th. This represents a $5.00 annualized dividend and a yield of 2.23%. JPMorgan Chase & Co.’s payout ratio is presently 27.89%.

Institutional Investors Weigh In On JPMorgan Chase & Co.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Cooper Financial Group increased its holdings in shares of JPMorgan Chase & Co. by 12.8% during the first quarter. Cooper Financial Group now owns 8,693 shares of the financial services provider’s stock worth $1,741,000 after buying an additional 984 shares in the last quarter. jvl associates llc increased its holdings in JPMorgan Chase & Co. by 59.8% in the 1st quarter. jvl associates llc now owns 1,911 shares of the financial services provider’s stock worth $383,000 after purchasing an additional 715 shares in the last quarter. Rowlandmiller & PARTNERS.ADV raised its position in JPMorgan Chase & Co. by 1.3% in the first quarter. Rowlandmiller & PARTNERS.ADV now owns 25,963 shares of the financial services provider’s stock valued at $5,201,000 after purchasing an additional 330 shares during the last quarter. Aspiriant LLC grew its holdings in shares of JPMorgan Chase & Co. by 1.1% during the first quarter. Aspiriant LLC now owns 29,728 shares of the financial services provider’s stock worth $5,955,000 after purchasing an additional 320 shares during the last quarter. Finally, BCGM Wealth Management LLC grew its holdings in shares of JPMorgan Chase & Co. by 2.8% during the first quarter. BCGM Wealth Management LLC now owns 19,061 shares of the financial services provider’s stock worth $3,818,000 after purchasing an additional 516 shares during the last quarter. 71.55% of the stock is owned by institutional investors.

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.