Oppenheimer Boosts JPMorgan Chase & Co. (NYSE:JPM) Price Target to $234.00

JPMorgan Chase & Co. (NYSE:JPM) had its target price raised by Oppenheimer from $221.00 to $234.00 in a report published on Wednesday, Benzinga reports. Oppenheimer currently has an outperform rating on the financial services provider’s stock.

Several other analysts also recently issued reports on JPM. Wolfe Research downgraded shares of JPMorgan Chase & Co. from an outperform rating to a peer perform rating in a research note on Monday, July 8th. Citigroup raised their price objective on shares of JPMorgan Chase & Co. from $205.00 to $215.00 and gave the stock a neutral rating in a research note on Monday, July 15th. BMO Capital Markets raised their price objective on shares of JPMorgan Chase & Co. from $195.00 to $205.00 and gave the stock a market perform rating in a research note on Thursday, July 11th. Piper Sandler raised their price objective on shares of JPMorgan Chase & Co. from $220.00 to $230.00 and gave the stock an overweight rating in a research note on Monday, July 15th. Finally, Evercore ISI raised their price objective on shares of JPMorgan Chase & Co. from $210.00 to $211.00 and gave the stock an outperform rating in a research note on Monday, July 15th. Nine analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, JPMorgan Chase & Co. currently has a consensus rating of Moderate Buy and an average target price of $212.13.

JPMorgan Chase & Co. Stock Up 0.1 %

Shares of NYSE:JPM opened at $207.24 on Wednesday. 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. has a 12 month low of $135.19 and a 12 month high of $225.48. The company has a 50-day moving average price of $211.39 and a 200 day moving average price of $202.88. The company has a market cap of $595.12 billion, a price-to-earnings ratio of 11.56, a PEG ratio of 2.39 and a beta of 1.12.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data 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. The business had revenue of $50.80 billion during the quarter, compared to the consensus estimate 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 quarter last year, the firm earned $4.37 earnings per share. As a group, equities research analysts predict that JPMorgan Chase & Co. will post 16.72 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, October 4th will be issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 2.41%. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date is Friday, October 4th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 27.89%.

Hedge Funds Weigh In On JPMorgan Chase & Co.

Several institutional investors have recently bought and sold shares of JPM. Swedbank AB purchased a new position in JPMorgan Chase & Co. during the first quarter valued at approximately $800,130,000. Capital Research Global Investors increased its holdings in JPMorgan Chase & Co. by 23.3% during the first quarter. Capital Research Global Investors now owns 17,200,124 shares of the financial services provider’s stock valued at $3,445,185,000 after buying an additional 3,252,451 shares during the period. Wulff Hansen & CO. increased its holdings in JPMorgan Chase & Co. by 19,920.7% during the second quarter. Wulff Hansen & CO. now owns 2,801,503 shares of the financial services provider’s stock valued at $566,632,000 after buying an additional 2,787,510 shares during the period. Granite Bay Wealth Management LLC increased its holdings in JPMorgan Chase & Co. by 6,239.1% during the second quarter. Granite Bay Wealth Management LLC now owns 1,418,572 shares of the financial services provider’s stock valued at $277,456,000 after buying an additional 1,396,194 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in shares of JPMorgan Chase & Co. by 4.8% during the second quarter. Dimensional Fund Advisors LP now owns 22,696,963 shares of the financial services provider’s stock worth $4,590,412,000 after purchasing an additional 1,040,594 shares in the last quarter. 71.55% of the stock is 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.