JPMorgan Chase & Co. (NYSE:JPM) Shares Up 1.3% Following Better-Than-Expected Earnings

JPMorgan Chase & Co. (NYSE:JPM) rose 1.3% during trading on Wednesday after the company announced better than expected quarterly earnings. The stock traded as high as $252.08 and last traded at $250.59. Approximately 7,063,310 shares changed hands during mid-day trading, a decline of 25% from the average daily volume of 9,457,206 shares. The stock had previously closed at $247.47.

The financial services provider reported $4.81 EPS for the quarter, beating the consensus estimate of $4.03 by $0.78. JPMorgan Chase & Co. had a net margin of 19.64% and a return on equity of 16.71%. The company had revenue of $42.77 billion during the quarter, compared to analysts’ expectations of $41.90 billion. During the same quarter last year, the company posted $3.04 EPS. The firm’s revenue was up 10.9% compared to the same quarter last year.

JPMorgan Chase & Co. Dividend Announcement

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 given a $1.25 dividend. The ex-dividend date is Monday, January 6th. This represents a $5.00 annualized dividend and a yield of 1.98%. JPMorgan Chase & Co.’s dividend payout ratio is presently 27.82%.

Analyst Upgrades and Downgrades

JPM has been the subject of several recent research reports. Citigroup raised their price target on shares of JPMorgan Chase & Co. from $215.00 to $250.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. Bank of America lifted their price objective on shares of JPMorgan Chase & Co. from $260.00 to $280.00 and gave the stock a “buy” rating in a research report on Tuesday, January 7th. Baird R W cut shares of JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 7th. Robert W. Baird cut shares of JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 price objective for the company. in a research report on Thursday, November 7th. Finally, Barclays lifted their price objective on shares of JPMorgan Chase & Co. from $257.00 to $304.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, JPMorgan Chase & Co. presently has an average rating of “Hold” and an average target price of $245.83.

Institutional Investors Weigh In On JPMorgan Chase & Co.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. International Assets Investment Management LLC acquired a new position in JPMorgan Chase & Co. in the third quarter valued at $1,888,088,000. Fisher Asset Management LLC increased its stake in JPMorgan Chase & Co. by 31.7% in 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 during the period. Wulff Hansen & CO. increased its stake in 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 valued at $566,632,000 after purchasing an additional 2,787,510 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased its stake in 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 valued at $922,760,000 after purchasing an additional 2,535,590 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec increased its stake in JPMorgan Chase & Co. by 93.6% in 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 purchasing an additional 1,301,764 shares during the period. 71.55% of the stock is currently owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Trading Up 1.9 %

The company has a debt-to-equity ratio of 1.27, a current ratio of 0.89 and a quick ratio of 0.89. The company has a market capitalization of $710.09 billion, a price-to-earnings ratio of 14.04, a price-to-earnings-growth ratio of 3.54 and a beta of 1.11. The business’s 50 day simple moving average is $242.60 and its 200 day simple moving average is $223.51.

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.