JPMorgan Chase & Co. (NYSE:JPM) Trading Up 0.1% After Analyst Upgrade

JPMorgan Chase & Co. (NYSE:JPM)’s share price rose 0.1% during mid-day trading on Tuesday after Piper Sandler raised their price target on the stock from $240.00 to $275.00. Piper Sandler currently has an overweight rating on the stock. JPMorgan Chase & Co. traded as high as $249.04 and last traded at $246.48. Approximately 1,755,900 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 9,022,476 shares. The stock had previously closed at $246.25.

Several other equities research analysts also recently issued reports on the stock. Evercore ISI raised their price objective on shares of JPMorgan Chase & Co. from $217.00 to $230.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Keefe, Bruyette & Woods raised their price objective on shares of JPMorgan Chase & Co. from $216.00 to $254.00 and gave the stock a “market perform” rating in a research note on Tuesday. Morgan Stanley downgraded shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and raised their price objective for the stock from $220.00 to $224.00 in a research note on Monday, September 30th. Citigroup raised their target price on JPMorgan Chase & Co. from $215.00 to $250.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $235.00 target price on shares of JPMorgan Chase & Co. in a research report on Tuesday, September 3rd. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $234.81.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in JPM. Mizuho Securities Co. Ltd. bought a new position in shares of JPMorgan Chase & Co. in the third quarter valued at about $25,000. Catalyst Capital Advisors LLC bought a new position in shares of JPMorgan Chase & Co. in the third quarter valued at about $27,000. Fairway Wealth LLC bought a new position in shares of JPMorgan Chase & Co. in the second quarter valued at about $32,000. Anfield Capital Management LLC bought a new position in shares of JPMorgan Chase & Co. in the second quarter valued at about $34,000. Finally, West Financial Advisors LLC bought a new position in shares of JPMorgan Chase & Co. in the third quarter valued at about $37,000. 71.55% of the stock is owned by institutional investors.

JPMorgan Chase & Co. Price Performance

The stock has a fifty day moving average of $228.56 and a 200-day moving average of $214.37. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.27. The firm has a market capitalization of $689.25 billion, a P/E ratio of 13.62, a PEG ratio of 3.57 and a beta of 1.11.

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

JPMorgan Chase & Co. Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 4th were given a $1.25 dividend. 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. The ex-dividend date of this dividend was Friday, October 4th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 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.