JPMorgan Chase & Co. (NYSE:JPM) Stock Price Up 0.6% on Strong Earnings

JPMorgan Chase & Co. (NYSE:JPM) was up 0.6% on Thursday following a stronger than expected earnings report. The stock traded as high as $257.04 and last traded at $253.78. Approximately 6,079,785 shares changed hands during trading, a decline of 41% from the average daily volume of 10,279,314 shares. The stock had previously closed at $252.35.

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

JPMorgan Chase & Co. Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, January 6th will be paid a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 1.97%. The ex-dividend date of this dividend is Monday, January 6th. JPMorgan Chase & Co.’s dividend payout ratio is currently 27.82%.

Analyst Ratings Changes

Several research firms have recently weighed in on JPM. UBS Group raised their price target on shares of JPMorgan Chase & Co. from $276.00 to $287.00 and gave the stock a “buy” rating in a research note on Thursday. Barclays raised their price target on shares of JPMorgan Chase & Co. from $304.00 to $330.00 and gave the stock an “overweight” rating in a research note on Thursday. 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. Oppenheimer cut shares of JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 20th. Finally, Bank of America raised 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. 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’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $251.78.

Insider Buying and Selling at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 3,303 shares of JPMorgan Chase & Co. stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $253.94, for a total transaction of $838,763.82. Following the completion of the sale, the general counsel now directly owns 47,620 shares in the company, valued at $12,092,622.80. This trade represents a 6.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.79% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Charles Schwab Trust Co boosted its stake in shares of JPMorgan Chase & Co. by 18.5% in the fourth quarter. Charles Schwab Trust Co now owns 29,521 shares of the financial services provider’s stock valued at $7,076,000 after purchasing an additional 4,608 shares during the period. Aspiriant LLC boosted its stake in shares of JPMorgan Chase & Co. by 8.1% in the fourth quarter. Aspiriant LLC now owns 27,255 shares of the financial services provider’s stock valued at $6,533,000 after purchasing an additional 2,039 shares during the period. Reliant Investment Management LLC purchased a new position in shares of JPMorgan Chase & Co. in the fourth quarter valued at approximately $218,000. Mitchell & Pahl Private Wealth LLC purchased a new position in shares of JPMorgan Chase & Co. in the fourth quarter valued at approximately $348,000. Finally, Rezny Wealth Management Inc. lifted its stake in JPMorgan Chase & Co. by 3.6% in the fourth quarter. Rezny Wealth Management Inc. now owns 8,833 shares of the financial services provider’s stock worth $2,117,000 after acquiring an additional 303 shares during the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Up 0.7 %

The business’s 50 day moving average is $242.70 and its 200-day moving average is $223.72. 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 cap of $715.53 billion, a PE ratio of 14.14, a P/E/G ratio of 3.16 and a beta of 1.11.

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.