JPMorgan Chase & Co. (NYSE:JPM) Shares Up 0.3% Following Dividend Announcement

JPMorgan Chase & Co. (NYSE:JPM) shot up 0.3% during trading on Tuesday following a dividend announcement from the company. The stock traded as high as $209.13 and last traded at $208.54. 1,720,028 shares traded hands during trading, a decline of 81% from the average session volume of 9,109,649 shares. The stock had previously closed at $207.86.

The newly announced dividend which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 4th will be issued a $1.25 dividend. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date is Friday, October 4th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.38%. JPMorgan Chase & Co.’s payout ratio is 25.66%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on JPM shares. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $235.00 target price on shares of JPMorgan Chase & Co. in a research note on Tuesday, September 3rd. Oppenheimer raised their price objective on shares of JPMorgan Chase & Co. from $215.00 to $221.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. Wolfe Research cut JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a research note on Monday, July 8th. Wells Fargo & Company raised their price target on JPMorgan Chase & Co. from $220.00 to $225.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th. Finally, Piper Sandler boosted their price objective on JPMorgan Chase & Co. from $220.00 to $230.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Eight research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, JPMorgan Chase & Co. presently has a consensus rating of “Moderate Buy” and an average target price of $211.06.

JPMorgan Chase & Co. Stock Up 1.4 %

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 firm has a market cap of $604.43 billion, a PE ratio of 11.72, a P/E/G ratio of 2.33 and a beta of 1.12. The business’s 50-day simple moving average is $211.43 and its 200 day simple moving average is $201.40.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings data on Friday, July 12th. The financial services provider reported $6.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.19 by $1.93. The company had revenue of $50.80 billion for the quarter, compared to analyst estimates of $42.23 billion. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.26%. During the same period last year, the company posted $4.37 earnings per share. As a group, equities research analysts expect that JPMorgan Chase & Co. will post 16.78 earnings per share for the current year.

Institutional Investors Weigh In On JPMorgan Chase & Co.

A number of institutional investors have recently added to or reduced their stakes in JPM. Instrumental Wealth LLC grew its position in shares of JPMorgan Chase & Co. by 4.5% in the 2nd quarter. Instrumental Wealth LLC now owns 1,101 shares of the financial services provider’s stock worth $230,000 after buying an additional 47 shares during the last quarter. Gemmer Asset Management LLC increased its position in shares of JPMorgan Chase & Co. by 1.6% during the second quarter. Gemmer Asset Management LLC now owns 3,135 shares of the financial services provider’s stock worth $634,000 after purchasing an additional 48 shares in the last quarter. Great Point Wealth Advisors LLC lifted its holdings in shares of JPMorgan Chase & Co. by 0.9% during the 2nd quarter. Great Point Wealth Advisors LLC now owns 5,690 shares of the financial services provider’s stock valued at $1,151,000 after purchasing an additional 48 shares during the last quarter. Northside Capital Management LLC boosted its position in shares of JPMorgan Chase & Co. by 0.7% in the 2nd quarter. Northside Capital Management LLC now owns 6,750 shares of the financial services provider’s stock worth $1,365,000 after purchasing an additional 50 shares in the last quarter. Finally, Highland Financial Advisors LLC grew its stake in JPMorgan Chase & Co. by 0.7% during the 2nd quarter. Highland Financial Advisors LLC now owns 7,056 shares of the financial services provider’s stock worth $1,427,000 after buying an additional 50 shares during the last quarter. Institutional investors own 71.55% of the company’s stock.

About JPMorgan Chase & Co.

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.