JPMorgan Chase & Co. (NYSE:JPM) Given New $280.00 Price Target at Bank of America

JPMorgan Chase & Co. (NYSE:JPM) had its price target raised by Bank of America from $260.00 to $280.00 in a research note published on Tuesday,Benzinga reports. Bank of America currently has a buy rating on the financial services provider’s stock.

Several other research firms also recently weighed in on JPM. Citigroup raised their price target on shares of JPMorgan Chase & Co. from $215.00 to $250.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. Wells Fargo & Company raised their price target on JPMorgan Chase & Co. from $240.00 to $270.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Truist Financial assumed coverage on JPMorgan Chase & Co. in a research note on Tuesday. They set a “hold” rating and a $260.00 target price for the company. Piper Sandler lifted their price objective on shares of JPMorgan Chase & Co. from $240.00 to $275.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 3rd. Finally, Royal Bank of Canada increased their target price 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, October 14th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, JPMorgan Chase & Co. presently has an average rating of “Hold” and a consensus target price of $245.83.

JPMorgan Chase & Co. Trading Up 1.0 %

Shares of NYSE:JPM opened at $243.16 on Tuesday. The business’s 50-day moving average is $240.46 and its 200 day moving average is $221.95. The firm has a market capitalization of $684.58 billion, a P/E ratio of 13.53, a P/E/G ratio of 3.54 and a beta of 1.11. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.89 and a quick ratio of 0.89. JPMorgan Chase & Co. has a 1 year low of $164.30 and a 1 year high of $254.31.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings data 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 16.71% and a net margin of 19.64%. The business had revenue of $43.32 billion during the quarter, compared to analysts’ expectations of $41.43 billion. During the same quarter in the previous year, the firm posted $4.33 EPS. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. On average, research analysts predict that JPMorgan Chase & Co. will post 17.62 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, January 6th will be paid a $1.25 dividend. The ex-dividend date is Monday, January 6th. This represents a $5.00 dividend on an annualized basis and a yield of 2.06%. JPMorgan Chase & Co.’s payout ratio is 27.82%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Mizuho Securities Co. Ltd. bought a new stake in shares of JPMorgan Chase & Co. during the 3rd quarter worth about $25,000. Catalyst Capital Advisors LLC bought a new position in shares of JPMorgan Chase & Co. in the third quarter worth $27,000. Fairway Wealth LLC acquired a new position in JPMorgan Chase & Co. during the second quarter valued at approximately $32,000. West Financial Advisors LLC bought a new stake in shares of JPMorgan Chase & Co. during the 3rd quarter worth $37,000. Finally, New England Capital Financial Advisors LLC boosted its stake in shares of JPMorgan Chase & Co. by 38.5% in the 3rd quarter. New England Capital Financial Advisors LLC now owns 180 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 50 shares in the last quarter. Institutional investors own 71.55% of the company’s stock.

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.