JPMorgan Chase & Co. (NYSE:JPM) Stock Price Up 1.3% Following Strong Earnings

JPMorgan Chase & Co. (NYSE:JPM)’s stock price traded up 1.3% during mid-day trading on Wednesday following a stronger than expected earnings report. The company traded as high as $252.08 and last traded at $250.59. 7,063,310 shares were traded during trading, a decline of 25% from the average session volume of 9,457,206 shares. The stock had previously closed at $247.47.

The financial services provider reported $4.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.03 by $0.78. JPMorgan Chase & Co. had a net margin of 19.64% and a return on equity of 16.71%. The company had revenue of $42.77 billion during the quarter, compared to analysts’ expectations of $41.90 billion. During the same quarter in the previous year, the company posted $3.04 earnings per share. JPMorgan Chase & Co.’s quarterly revenue was up 10.9% compared to the same quarter last year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders 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 dividend yield of 2.00%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 27.82%.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Royal Bank of Canada increased their price objective on shares of JPMorgan Chase & Co. from $211.00 to $230.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Bank of America increased their price target on shares of JPMorgan Chase & Co. from $260.00 to $280.00 and gave the company a “buy” rating in a research note on Tuesday, January 7th. Daiwa Capital Markets dropped their price objective on shares of JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating for the company in a research report on Thursday, October 10th. Piper Sandler increased their price objective on JPMorgan Chase & Co. from $240.00 to $275.00 and gave the company an “overweight” rating in a research report on Tuesday, December 3rd. Finally, Wells Fargo & Company lifted their target price on JPMorgan Chase & Co. from $240.00 to $270.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $245.83.

Institutional Trading of JPMorgan Chase & Co.

Large investors have recently made changes to their positions in the company. JPMorgan Chase & Co. raised its stake in shares of JPMorgan Chase & Co. by 7.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,450,775 shares of the financial services provider’s stock valued at $938,491,000 after purchasing an additional 319,730 shares during the period. Sageworth Trust Co grew its stake in shares of JPMorgan Chase & Co. by 37.9% during the 3rd quarter. Sageworth Trust Co now owns 2,860 shares of the financial services provider’s stock worth $603,000 after acquiring an additional 786 shares in the last quarter. Kingsview Wealth Management LLC raised its holdings in shares of JPMorgan Chase & Co. by 2.5% in the third quarter. Kingsview Wealth Management LLC now owns 118,095 shares of the financial services provider’s stock valued at $24,902,000 after purchasing an additional 2,839 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of JPMorgan Chase & Co. by 16.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 692,809 shares of the financial services provider’s stock worth $143,594,000 after purchasing an additional 95,461 shares in the last quarter. Finally, Zions Bancorporation N.A. boosted its holdings in JPMorgan Chase & Co. by 2.5% during the third quarter. Zions Bancorporation N.A. now owns 11,157 shares of the financial services provider’s stock worth $2,353,000 after purchasing an additional 267 shares during the last quarter. Institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Up 1.2 %

The firm’s 50 day simple moving average is $242.60 and its 200-day simple moving average is $223.51. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.27. The stock has a market capitalization of $705.21 billion, a price-to-earnings ratio of 13.94, a price-to-earnings-growth ratio of 3.54 and a beta of 1.11.

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.