JPMorgan Chase & Co. (NYSE:JPM) Coverage Initiated by Analysts at Truist Financial

Truist Financial began coverage on shares of JPMorgan Chase & Co. (NYSE:JPM) in a report published on Tuesday morning,Benzinga reports. The firm issued a hold rating and a $260.00 target price on the financial services provider’s stock.

Several other research firms have also recently weighed in on JPM. Royal Bank of Canada boosted their price target on JPMorgan Chase & Co. from $211.00 to $230.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Robert W. Baird lowered shares of JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 price target for the company. in a research note on Thursday, November 7th. Daiwa Capital Markets decreased their target price on shares of JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating for the company in a research note on Thursday, October 10th. Evercore ISI lifted their price objective on JPMorgan Chase & Co. from $217.00 to $230.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Finally, Keefe, Bruyette & Woods upped their price target on shares of JPMorgan Chase & Co. from $216.00 to $254.00 and gave the company a “market perform” rating in a research report on Tuesday, December 3rd. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, JPMorgan Chase & Co. currently has a consensus rating of “Hold” and an average price target of $245.83.

JPMorgan Chase & Co. Stock Up 1.0 %

NYSE:JPM opened at $243.16 on Tuesday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.89 and a current ratio of 0.89. The firm has a market cap of $684.58 billion, a P/E ratio of 13.53, a P/E/G ratio of 3.54 and a beta of 1.11. JPMorgan Chase & Co. has a fifty-two week low of $164.30 and a fifty-two week high of $254.31. The firm has a 50-day simple moving average of $240.46 and a two-hundred day simple moving average of $221.95.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $43.32 billion during the quarter, compared to the consensus estimate of $41.43 billion. During the same quarter last year, the firm earned $4.33 earnings per share. The firm’s quarterly revenue was up 6.5% compared to the same quarter last year. Analysts predict that JPMorgan Chase & Co. will post 17.62 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, January 6th will be paid a $1.25 dividend. The ex-dividend date is Monday, January 6th. This represents a $5.00 annualized dividend and a yield of 2.06%. JPMorgan Chase & Co.’s payout ratio is 27.82%.

Institutional Investors Weigh In On JPMorgan Chase & Co.

Several institutional investors and hedge funds have recently modified their holdings of JPM. International Assets Investment Management LLC purchased a new position in JPMorgan Chase & Co. during the third quarter valued at $1,888,088,000. Fisher Asset Management LLC grew its position in shares of JPMorgan Chase & Co. by 31.7% during the third quarter. Fisher Asset Management LLC now owns 16,784,272 shares of the financial services provider’s stock valued at $3,539,132,000 after purchasing an additional 4,043,841 shares in the last quarter. Wulff Hansen & CO. increased its holdings in shares of JPMorgan Chase & Co. by 19,920.7% in the second quarter. Wulff Hansen & CO. now owns 2,801,503 shares of the financial services provider’s stock worth $566,632,000 after purchasing an additional 2,787,510 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of JPMorgan Chase & Co. by 137.8% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,376,176 shares of the financial services provider’s stock worth $922,760,000 after buying an additional 2,535,590 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec boosted its stake in JPMorgan Chase & Co. by 93.6% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,692,159 shares of the financial services provider’s stock valued at $567,669,000 after buying an additional 1,301,764 shares during the last quarter. Institutional investors own 71.55% of the company’s stock.

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.