JPMorgan Chase & Co. (NYSE:JPM) Sets New 12-Month High – Here’s What Happened

Shares of JPMorgan Chase & Co. (NYSE:JPM) hit a new 52-week high on Tuesday . The company traded as high as $226.75 and last traded at $225.66, with a volume of 210799 shares trading hands. The stock had previously closed at $225.50.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Royal Bank of Canada upped their target price on shares of JPMorgan Chase & Co. from $211.00 to $230.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Daiwa Capital Markets reduced their price objective on JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating on the stock in a research note on Thursday, October 10th. Piper Sandler lifted their target price on JPMorgan Chase & Co. from $220.00 to $230.00 and gave the company 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 report on Saturday, July 13th. Finally, Jefferies Financial Group lifted their price objective on JPMorgan Chase & Co. from $230.00 to $239.00 and gave the company a “buy” rating in a research note on Wednesday, July 3rd. Nine investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $217.94.

JPMorgan Chase & Co. Price Performance

The stock has a market capitalization of $638.48 billion, a price-to-earnings ratio of 12.49, a price-to-earnings-growth ratio of 3.28 and a beta of 1.11. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 1.24. The company’s 50 day moving average is $215.96 and its 200 day moving average is $206.15.

JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results on Friday, October 11th. The financial services provider reported $4.37 EPS for the quarter, topping analysts’ consensus estimates of $4.02 by $0.35. The business had revenue of $43.32 billion for the quarter, compared to analysts’ expectations of $41.43 billion. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. The business’s revenue was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.33 earnings per share. Research analysts anticipate that JPMorgan Chase & Co. will post 16.75 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 4th will be paid a $1.25 dividend. The ex-dividend date is Friday, October 4th. This represents a $5.00 dividend on an annualized basis and a yield of 2.23%. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s payout ratio is currently 27.82%.

Hedge Funds Weigh In On JPMorgan Chase & Co.

A number of hedge funds have recently modified their holdings of JPM. Catalyst Capital Advisors LLC acquired a new position in JPMorgan Chase & Co. in the third quarter valued at $27,000. Retirement Group LLC grew its holdings in shares of JPMorgan Chase & Co. by 227.1% during the first quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock worth $31,000 after buying an additional 109 shares during the last quarter. Fairway Wealth LLC acquired a new position in JPMorgan Chase & Co. in the 2nd quarter valued at about $32,000. Richardson Capital Management LLC purchased a new stake in JPMorgan Chase & Co. during the 1st quarter valued at approximately $34,000. Finally, Anfield Capital Management LLC acquired a new stake in JPMorgan Chase & Co. during the 2nd quarter worth approximately $34,000. 71.55% of the stock is currently owned by hedge funds and other 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.