JPMorgan Chase & Co. (NYSE:JPM) Posts Earnings Results, Beats Expectations By $1.93 EPS

JPMorgan Chase & Co. (NYSE:JPM) released its quarterly earnings results on Friday. The financial services provider reported $6.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.19 by $1.93, Briefing.com reports. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.52%. The business had revenue of $50.80 billion for the quarter, compared to analyst estimates of $42.23 billion. During the same quarter in the previous year, the business earned $4.37 earnings per share.

JPMorgan Chase & Co. Price Performance

NYSE JPM opened at $204.94 on Monday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.29. The company has a fifty day simple moving average of $199.88 and a 200 day simple moving average of $189.09. The company has a market cap of $588.52 billion, a P/E ratio of 11.43, a P/E/G ratio of 2.31 and a beta of 1.12. JPMorgan Chase & Co. has a 1 year low of $135.19 and a 1 year high of $210.38.

JPMorgan Chase & Co. Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, July 5th will be issued a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 2.24%. The ex-dividend date of this dividend is Friday, July 5th. JPMorgan Chase & Co.’s dividend payout ratio is currently 25.66%.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Wolfe Research downgraded shares of JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a research report on Monday, July 8th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $211.00 price objective on shares of JPMorgan Chase & Co. in a research report on Tuesday, May 21st. Evercore ISI reaffirmed an “outperform” rating and set a $210.00 price objective on shares of JPMorgan Chase & Co. in a research report on Wednesday, July 3rd. Piper Sandler boosted their price objective on shares of JPMorgan Chase & Co. from $215.00 to $220.00 and gave the company an “overweight” rating in a research report on Tuesday, May 21st. Finally, Morgan Stanley lowered their price objective on shares of JPMorgan Chase & Co. from $216.00 to $214.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 21st. Eight investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, JPMorgan Chase & Co. has an average rating of “Moderate Buy” and an average target price of $198.61.

Insider Buying and Selling

In related news, insider Elena A. Korablina sold 21,829 shares of the company’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $190.91, for a total transaction of $4,167,374.39. Following the completion of the sale, the insider now directly owns 6,484 shares of the company’s stock, valued at approximately $1,237,860.44. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, insider Elena A. Korablina sold 21,829 shares of the company’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $190.91, for a total transaction of $4,167,374.39. Following the completion of the transaction, the insider now directly owns 6,484 shares in the company, valued at approximately $1,237,860.44. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Ashley Bacon sold 5,086 shares of the company’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $193.64, for a total transaction of $984,853.04. Following the transaction, the insider now owns 217,351 shares of the company’s stock, valued at $42,087,847.64. The disclosure for this sale can be found here. In the last three months, insiders sold 72,343 shares of company stock valued at $14,137,789. Company insiders own 0.79% of the company’s stock.

Hedge Funds Weigh In On JPMorgan Chase & Co.

Large investors have recently bought and sold shares of the stock. Capital International Investors raised its stake in shares of JPMorgan Chase & Co. by 1.9% in the 1st quarter. Capital International Investors now owns 42,294,992 shares of the financial services provider’s stock valued at $8,471,687,000 after buying an additional 778,297 shares in the last quarter. Norges Bank acquired a new position in shares of JPMorgan Chase & Co. in the 4th quarter valued at $6,016,878,000. Capital World Investors raised its stake in shares of JPMorgan Chase & Co. by 0.4% in the 1st quarter. Capital World Investors now owns 34,422,011 shares of the financial services provider’s stock valued at $6,894,729,000 after buying an additional 150,812 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of JPMorgan Chase & Co. by 3.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 21,338,704 shares of the financial services provider’s stock valued at $3,629,757,000 after buying an additional 695,502 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of JPMorgan Chase & Co. by 0.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 20,170,399 shares of the financial services provider’s stock valued at $3,389,329,000 after buying an additional 154,426 shares in the last quarter. 71.55% of the stock is currently 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.