JPMorgan Chase & Co. (NYSE:JPM) Trading Up 0.9% on Analyst Upgrade

JPMorgan Chase & Co. (NYSE:JPM)’s stock price shot up 0.9% during mid-day trading on Tuesday after Oppenheimer raised their price target on the stock from $232.00 to $241.00. Oppenheimer currently has an outperform rating on the stock. JPMorgan Chase & Co. traded as high as $221.78 and last traded at $221.69. 1,118,253 shares were traded during trading, a decline of 88% from the average session volume of 8,968,286 shares. The stock had previously closed at $219.78.

JPM has been the topic of several other research reports. 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 note on Tuesday, July 9th. BMO Capital Markets upped their target price on shares of JPMorgan Chase & Co. from $195.00 to $205.00 and gave the company a “market perform” rating in a research report on Thursday, July 11th. Morgan Stanley cut shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and lifted their price target for the stock from $220.00 to $224.00 in a research report on Monday, September 30th. Wolfe Research lowered shares of JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a report on Monday, July 8th. Finally, Piper Sandler lifted their target price on shares of JPMorgan Chase & Co. from $220.00 to $230.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. Eight investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, JPMorgan Chase & Co. has a consensus rating of “Moderate Buy” and an average target price of $223.38.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Mizuho Securities Co. Ltd. bought a new position in shares of JPMorgan Chase & Co. during the 3rd quarter valued at about $25,000. Catalyst Capital Advisors LLC acquired a new stake in JPMorgan Chase & Co. during the 3rd quarter worth approximately $27,000. Retirement Group LLC lifted its stake in JPMorgan Chase & Co. by 227.1% in the first quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock valued at $31,000 after buying an additional 109 shares in the last quarter. Fairway Wealth LLC acquired a new position in shares of JPMorgan Chase & Co. in the second quarter valued at approximately $32,000. Finally, Anfield Capital Management LLC bought a new stake in shares of JPMorgan Chase & Co. during the second quarter worth $34,000. 71.55% of the stock is currently owned by institutional investors.

JPMorgan Chase & Co. Price Performance

The company has a market cap of $695.56 billion, a P/E ratio of 13.75, a P/E/G ratio of 3.25 and a beta of 1.10. The company’s 50-day moving average price is $216.71 and its 200-day moving average price is $207.71. 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. (NYSE:JPM) last released its quarterly earnings results 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. The firm had revenue of $43.32 billion for the quarter, compared to the consensus estimate of $41.43 billion. JPMorgan Chase & Co. had a return on equity of 16.71% and a net margin of 19.64%. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter last year, the business posted $4.33 EPS. As a group, sell-side analysts predict that JPMorgan Chase & Co. will post 17.52 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 4th were paid a $1.25 dividend. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date of this dividend was Friday, October 4th. This represents a $5.00 annualized dividend and a yield of 2.02%. JPMorgan Chase & Co.’s payout ratio is presently 27.82%.

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.