JPMorgan Chase & Co. (NYSE:JPM) Sets New 52-Week High After Analyst Upgrade

Shares of JPMorgan Chase & Co. (NYSE:JPM) hit a new 52-week high on Wednesday 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 $242.30 and last traded at $241.73, with a volume of 1648536 shares trading hands. The stock had previously closed at $221.49.

JPM has been the subject of a number of other reports. StockNews.com raised shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research report on Saturday, July 13th. Royal Bank of Canada raised their target price on shares of JPMorgan Chase & Co. from $211.00 to $230.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Morgan Stanley lowered JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and lifted their price objective for the company from $220.00 to $224.00 in a research note on Monday, September 30th. Citigroup boosted their price objective on JPMorgan Chase & Co. from $205.00 to $215.00 and gave the company a “neutral” rating in a report on Monday, July 15th. Finally, Evercore ISI raised their target price on JPMorgan Chase & Co. from $217.00 to $230.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $224.31.

Hedge Funds Weigh In On JPMorgan Chase & Co.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Henrickson Nauta Wealth Advisors Inc. increased its stake in JPMorgan Chase & Co. by 1.3% during the 3rd quarter. Henrickson Nauta Wealth Advisors Inc. now owns 3,436 shares of the financial services provider’s stock worth $725,000 after buying an additional 45 shares in the last quarter. Sunburst Financial Group LLC increased its position in shares of JPMorgan Chase & Co. by 0.8% during the third quarter. Sunburst Financial Group LLC now owns 5,696 shares of the financial services provider’s stock worth $1,201,000 after purchasing an additional 45 shares in the last quarter. West Wealth Group LLC raised its stake in JPMorgan Chase & Co. by 3.6% in the 3rd quarter. West Wealth Group LLC now owns 1,327 shares of the financial services provider’s stock valued at $280,000 after purchasing an additional 46 shares during the last quarter. Delta Financial Advisors LLC boosted its stake in JPMorgan Chase & Co. by 0.3% during the 3rd quarter. Delta Financial Advisors LLC now owns 15,519 shares of the financial services provider’s stock worth $3,272,000 after purchasing an additional 46 shares during the last quarter. Finally, Instrumental Wealth LLC grew its holdings in shares of JPMorgan Chase & Co. by 4.5% during the second quarter. Instrumental Wealth LLC now owns 1,101 shares of the financial services provider’s stock worth $230,000 after buying an additional 47 shares in the last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Price Performance

The firm has a market capitalization of $665.43 billion, a price-to-earnings ratio of 13.15, a PEG ratio of 3.21 and a beta of 1.10. The stock’s 50-day moving average price is $216.71 and its 200 day moving average price is $207.71. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.27.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share for the quarter, topping analysts’ consensus estimates of $4.02 by $0.35. The business had revenue of $43.32 billion for the quarter, compared to analyst estimates of $41.43 billion. JPMorgan Chase & Co. had a net margin of 19.64% and a return on equity of 16.71%. The business’s revenue was up 6.5% on a year-over-year basis. During the same period last year, the company posted $4.33 EPS. Equities research analysts expect that JPMorgan Chase & Co. will post 17.52 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 4th were paid a dividend of $1.25 per share. The ex-dividend date was Friday, October 4th. This represents a $5.00 dividend on an annualized basis and a yield of 2.12%. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s payout ratio is 27.82%.

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.