JPMorgan Chase & Co. (NYSE:JPM) Downgraded by Morgan Stanley to “Equal Weight”

Morgan Stanley cut shares of JPMorgan Chase & Co. (NYSE:JPM) from an overweight rating to an equal weight rating in a research note issued to investors on Monday morning, MarketBeat reports. They currently have $224.00 target price on the financial services provider’s stock, up from their previous target price of $220.00.

Other analysts have also issued reports about the company. Citigroup lifted their price target on JPMorgan Chase & Co. from $205.00 to $215.00 and gave the company a neutral rating in a research note on Monday, July 15th. Wells Fargo & Company increased their price objective on JPMorgan Chase & Co. from $220.00 to $225.00 and gave the company an overweight rating in a report on Monday, July 15th. Keefe, Bruyette & Woods upped their price target on JPMorgan Chase & Co. from $209.00 to $211.00 and gave the company a market perform rating in a research report on Tuesday, July 9th. Wolfe Research lowered JPMorgan Chase & Co. from an outperform rating to a peer perform rating in a research note on Monday, July 8th. Finally, Deutsche Bank Aktiengesellschaft restated a hold rating and set a $235.00 price target on shares of JPMorgan Chase & Co. in a report on Tuesday, September 3rd. Nine analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus target price of $211.31.

JPMorgan Chase & Co. Trading Up 0.1 %

Shares of JPMorgan Chase & Co. stock opened at $210.79 on Monday. The firm’s 50 day moving average is $211.48 and its 200 day moving average is $202.73. The firm has a market capitalization of $605.32 billion, a PE ratio of 11.76, a price-to-earnings-growth ratio of 2.39 and a beta of 1.12. JPMorgan Chase & Co. has a 1 year low of $135.19 and a 1 year high of $225.48. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 1.24.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Friday, July 12th. The financial services provider reported $6.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.19 by $1.93. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.26%. The company had revenue of $50.80 billion during the quarter, compared to the consensus estimate of $42.23 billion. During the same period in the prior year, the business earned $4.37 earnings per share. Equities research analysts forecast that JPMorgan Chase & Co. will post 16.72 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 4th will be paid a $1.25 dividend. The ex-dividend date of this dividend is Friday, October 4th. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. This represents a $5.00 annualized dividend and a dividend yield of 2.37%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 27.89%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Mattson Financial Services LLC acquired a new stake in JPMorgan Chase & Co. in the second quarter valued at approximately $3,740,000. Ashburton Jersey Ltd bought a new position in shares of JPMorgan Chase & Co. in the 2nd quarter worth $18,230,000. Greater Midwest Financial Group LLC lifted its holdings in shares of JPMorgan Chase & Co. by 6.6% in the 2nd quarter. Greater Midwest Financial Group LLC now owns 10,413 shares of the financial services provider’s stock worth $2,189,000 after purchasing an additional 641 shares in the last quarter. Centaurus Financial Inc. grew its position in JPMorgan Chase & Co. by 17.8% in the 2nd quarter. Centaurus Financial Inc. now owns 38,968 shares of the financial services provider’s stock valued at $7,882,000 after purchasing an additional 5,900 shares during the period. Finally, Anchor Investment Management LLC increased its stake in JPMorgan Chase & Co. by 3.1% during the 2nd quarter. Anchor Investment Management LLC now owns 39,993 shares of the financial services provider’s stock valued at $8,089,000 after purchasing an additional 1,195 shares in the last quarter. 71.55% of the stock is owned by institutional investors and hedge funds.

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.