JPMorgan Chase & Co. (NYSE:JPM) Shares Up 1.5% Following Better-Than-Expected Earnings

JPMorgan Chase & Co. (NYSE:JPM) was up 1.5% during mid-day trading on Monday following a better than expected earnings announcement. The company traded as high as $210.57 and last traded at $208.00. Approximately 2,655,010 shares were traded during mid-day trading, a decline of 71% from the average daily volume of 9,214,552 shares. The stock had previously closed at $204.94.

The financial services provider reported $6.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.19 by $1.93. The company had revenue of $50.80 billion during the quarter, compared to analysts’ expectations of $42.23 billion. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.52%. During the same quarter in the previous year, the business posted $4.37 earnings per share.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, July 5th will be given a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date is Friday, July 5th. JPMorgan Chase & Co.’s payout ratio is currently 25.66%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on JPM shares. Citigroup lifted their target price on shares of JPMorgan Chase & Co. from $205.00 to $215.00 and gave the stock a “neutral” rating in a research report on Monday. Keefe, Bruyette & Woods lifted their price target on shares of JPMorgan Chase & Co. from $209.00 to $211.00 and gave the stock a “market perform” rating in a report on Tuesday, July 9th. StockNews.com upgraded shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a report on Saturday. Robert W. Baird lifted their price target on shares of JPMorgan Chase & Co. from $175.00 to $185.00 and gave the stock a “neutral” rating in a report on Tuesday, May 21st. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $211.00 price target on shares of JPMorgan Chase & Co. in a report on Tuesday, May 21st. Nine investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $201.16.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, insider Elena A. Korablina sold 21,829 shares of the business’s stock in a transaction that occurred 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 in the company, valued at $1,237,860.44. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider Elena A. Korablina sold 21,829 shares of the business’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 transaction, the insider now directly owns 6,484 shares of the company’s stock, valued at $1,237,860.44. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Mary E. Erdoes sold 15,895 shares of the business’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $193.66, for a total transaction of $3,078,225.70. Following the transaction, the chief executive officer now directly owns 585,898 shares in the company, valued at $113,465,006.68. The disclosure for this sale can be found here. Insiders sold a total of 72,343 shares of company stock worth $14,137,789 over the last ninety days. 0.79% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Stone House Investment Management LLC boosted its stake in JPMorgan Chase & Co. by 132.8% during the 4th quarter. Stone House Investment Management LLC now owns 156 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 89 shares during the last quarter. Retirement Group LLC boosted its stake in JPMorgan Chase & Co. by 227.1% during the 1st quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 109 shares during the last quarter. Richardson Capital Management LLC bought a new position in JPMorgan Chase & Co. during the 1st quarter valued at $34,000. Davidson Capital Management Inc. bought a new position in shares of JPMorgan Chase & Co. in the 1st quarter worth about $37,000. Finally, Kathleen S. Wright Associates Inc. bought a new position in shares of JPMorgan Chase & Co. in the 1st quarter worth about $40,000. 71.55% of the stock is owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Stock Performance

The stock’s 50-day moving average price is $199.88 and its 200-day moving average price is $189.09. 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 market capitalization of $602.39 billion, a P/E ratio of 11.68, a P/E/G ratio of 2.31 and a beta of 1.12.

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.