JPMorgan Chase & Co. (NYSE:JPM) Increases Dividend to $1.25 Per Share

JPMorgan Chase & Co. (NYSE:JPM) announced a quarterly dividend on Tuesday, September 17th, Wall Street Journal reports. Shareholders of record on Friday, October 4th will be given a dividend of 1.25 per share by the financial services provider on Thursday, October 31st. This represents a $5.00 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date of this dividend is Friday, October 4th. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15.

JPMorgan Chase & Co. has increased its dividend payment by an average of 4.0% annually over the last three years and has increased its dividend annually for the last 14 consecutive years. JPMorgan Chase & Co. has a dividend payout ratio of 26.9% indicating that its dividend is sufficiently covered by earnings. Analysts expect JPMorgan Chase & Co. to earn $16.89 per share next year, which means the company should continue to be able to cover its $4.60 annual dividend with an expected future payout ratio of 27.2%.

JPMorgan Chase & Co. Trading Down 0.8 %

NYSE JPM traded down $1.65 during mid-day trading on Wednesday, reaching $207.60. 8,255,743 shares of the stock were exchanged, compared to its average volume of 9,139,158. The stock has a market cap of $596.16 billion, a P/E ratio of 11.65, a P/E/G ratio of 2.33 and a beta of 1.12. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.91 and a quick ratio of 0.91. JPMorgan Chase & Co. has a one year low of $135.19 and a one year high of $225.48. The stock has a 50 day simple moving average of $211.43 and a 200-day simple moving average of $201.36.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Friday, July 12th. The financial services provider reported $6.12 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 analysts’ expectations of $42.23 billion. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. During the same quarter last year, the firm posted $4.37 earnings per share. On average, analysts anticipate that JPMorgan Chase & Co. will post 16.78 EPS for the current year.

Analyst Ratings Changes

Several research firms recently issued reports on JPM. BMO Capital Markets lifted their price target 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. StockNews.com upgraded JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a report on Saturday, July 13th. Wells Fargo & Company upped their price target on JPMorgan Chase & Co. from $220.00 to $225.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $235.00 price objective on shares of JPMorgan Chase & Co. in a research note on Tuesday, September 3rd. Finally, Oppenheimer upped their target price on shares of JPMorgan Chase & Co. from $215.00 to $221.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. Eight analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, JPMorgan Chase & Co. has an average rating of “Moderate Buy” and a consensus price target of $211.06.

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.