JPMorgan Chase & Co. (NYSE:JPM) Forecasted to Post Q2 2024 Earnings of $4.21 Per Share

JPMorgan Chase & Co. (NYSE:JPM) – Equities researchers at Seaport Res Ptn boosted their Q2 2024 earnings per share (EPS) estimates for JPMorgan Chase & Co. in a report issued on Tuesday, July 2nd. Seaport Res Ptn analyst J. Mitchell now forecasts that the financial services provider will post earnings per share of $4.21 for the quarter, up from their previous forecast of $4.01. The consensus estimate for JPMorgan Chase & Co.’s current full-year earnings is $16.45 per share. Seaport Res Ptn also issued estimates for JPMorgan Chase & Co.’s Q3 2024 earnings at $3.97 EPS, Q4 2024 earnings at $3.78 EPS and Q2 2025 earnings at $4.19 EPS.

JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results on Friday, April 12th. The financial services provider reported $4.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.18 by $0.45. JPMorgan Chase & Co. had a net margin of 20.05% and a return on equity of 17.79%. The business had revenue of $41.93 billion for the quarter, compared to analysts’ expectations of $40.90 billion.

A number of other equities research analysts have also weighed in on JPM. Piper Sandler boosted their target price on shares of JPMorgan Chase & Co. from $215.00 to $220.00 and gave the company an “overweight” rating in a research note on Tuesday, May 21st. Royal Bank of Canada reissued an “outperform” rating and issued a $211.00 target price on shares of JPMorgan Chase & Co. in a report on Tuesday, May 21st. Morgan Stanley reduced their price target on shares of JPMorgan Chase & Co. from $216.00 to $214.00 and set an “overweight” rating for the company in a research report on Tuesday, May 21st. Robert W. Baird upped their target price on shares of JPMorgan Chase & Co. from $175.00 to $185.00 and gave the company a “neutral” rating in a report on Tuesday, May 21st. Finally, Oppenheimer cut their price objective on shares of JPMorgan Chase & Co. from $219.00 to $217.00 and set an “outperform” rating for the company in a research report on Monday, April 15th. Nine research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, JPMorgan Chase & Co. currently has a consensus rating of “Moderate Buy” and a consensus target price of $194.65.

JPMorgan Chase & Co. Stock Down 0.1 %

Shares of JPMorgan Chase & Co. stock opened at $208.69 on Thursday. JPMorgan Chase & Co. has a twelve month low of $135.19 and a twelve month high of $210.38. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.29. The company’s 50 day moving average is $197.87 and its 200 day moving average is $187.03. The company has a market cap of $599.29 billion, a price-to-earnings ratio of 12.60, a price-to-earnings-growth ratio of 2.80 and a beta of 1.12.

Institutional Trading of JPMorgan Chase & Co.

Institutional investors have recently added to or reduced their stakes in the company. Norges Bank bought a new position in JPMorgan Chase & Co. in the 4th quarter valued at $6,016,878,000. International Assets Investment Management LLC bought a new position in shares of JPMorgan Chase & Co. in the fourth quarter worth about $1,017,893,000. Wellington Management Group LLP increased its stake in JPMorgan Chase & Co. by 12.2% in the 3rd quarter. Wellington Management Group LLP now owns 42,421,711 shares of the financial services provider’s stock worth $6,151,997,000 after buying an additional 4,603,090 shares during the period. Swedbank AB bought a new stake in JPMorgan Chase & Co. during the 1st quarter valued at about $800,130,000. Finally, Capital Research Global Investors boosted its position in JPMorgan Chase & Co. by 23.3% in the 1st 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. Institutional investors own 71.55% of the company’s stock.

Insider Activity

In related news, General Counsel Stacey Friedman sold 4,415 shares of the business’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $200.65, for a total value of $885,869.75. Following the sale, the general counsel now owns 42,124 shares in the company, valued at $8,452,180.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 4,415 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $200.65, for a total transaction of $885,869.75. Following the sale, the general counsel now directly owns 42,124 shares of the company’s stock, valued at $8,452,180.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ashley Bacon sold 5,086 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $199.54, for a total value of $1,014,860.44. Following the sale, the insider now owns 212,265 shares in the company, valued at $42,355,358.10. The disclosure for this sale can be found here. In the last ninety days, insiders sold 250,565 shares of company stock worth $46,962,717. 0.79% of the stock is currently owned by insiders.

JPMorgan Chase & Co. Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, July 5th will be issued a dividend of $1.15 per share. The ex-dividend date of this dividend is Friday, July 5th. This represents a $4.60 annualized dividend and a dividend yield of 2.20%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 27.78%.

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.