JPMorgan Chase & Co. (NYSE:JPM) Trading 1.4% Higher on Analyst Upgrade

Shares of JPMorgan Chase & Co. (NYSE:JPM) rose 1.4% during trading on Friday after Wells Fargo & Company raised their price target on the stock from $240.00 to $270.00. Wells Fargo & Company currently has an overweight rating on the stock. JPMorgan Chase & Co. traded as high as $245.62 and last traded at $245.33. Approximately 2,817,263 shares were traded during mid-day trading, a decline of 69% from the average daily volume of 9,071,965 shares. The stock had previously closed at $241.87.

A number of other equities analysts have also commented on the stock. Royal Bank of Canada boosted their price target on shares of JPMorgan Chase & Co. from $211.00 to $230.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Oppenheimer raised their target price on shares of JPMorgan Chase & Co. from $232.00 to $241.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. Baird R W cut JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 7th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $235.00 target price on shares of JPMorgan Chase & Co. in a research note on Tuesday, September 3rd. Finally, Evercore ISI raised their price target on JPMorgan Chase & Co. from $217.00 to $230.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $227.13.

Institutional Trading of JPMorgan Chase & Co.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Mizuho Securities Co. Ltd. bought a new stake in shares of JPMorgan Chase & Co. in the 3rd quarter valued at about $25,000. Catalyst Capital Advisors LLC acquired a new position in JPMorgan Chase & Co. during the third quarter worth approximately $27,000. Fairway Wealth LLC acquired a new position in JPMorgan Chase & Co. during the second quarter worth approximately $32,000. Anfield Capital Management LLC bought a new stake in JPMorgan Chase & Co. in the second quarter valued at approximately $34,000. Finally, West Financial Advisors LLC acquired a new stake in shares of JPMorgan Chase & Co. in the third quarter valued at approximately $37,000. 71.55% of the stock is owned by institutional investors.

JPMorgan Chase & Co. Price Performance

The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.27. The company has a market capitalization of $690.86 billion, a P/E ratio of 13.62, a P/E/G ratio of 3.50 and a beta of 1.10. The company has a 50 day moving average price of $218.84 and a 200 day moving average price of $209.56.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings data on Friday, October 11th. The financial services provider reported $4.37 EPS for the quarter, topping analysts’ consensus estimates of $4.02 by $0.35. JPMorgan Chase & Co. had a net margin of 19.64% and a return on equity of 16.71%. The firm had revenue of $43.32 billion during the quarter, compared to analysts’ expectations of $41.43 billion. During the same period in the previous year, the business posted $4.33 earnings per share. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. On average, equities analysts predict that JPMorgan Chase & Co. will post 17.62 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 4th were paid a $1.25 dividend. The ex-dividend date of this dividend was Friday, October 4th. This represents a $5.00 dividend on an annualized basis and a yield of 2.04%. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s dividend payout ratio is 27.82%.

JPMorgan Chase & Co. Company Profile

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.