Oppenheimer Equities Analysts Raise Earnings Estimates for JPMorgan Chase & Co. (NYSE:JPM)

JPMorgan Chase & Co. (NYSE:JPMGet Rating) – Investment analysts at Oppenheimer increased their FY2022 earnings per share (EPS) estimates for shares of JPMorgan Chase & Co. in a report issued on Tuesday, May 24th. Oppenheimer analyst C. Kotowski now expects that the financial services provider will post earnings per share of $11.38 for the year, up from their previous forecast of $11.30. Oppenheimer has a “Outperform” rating and a $167.00 price objective on the stock. Oppenheimer also issued estimates for JPMorgan Chase & Co.’s FY2023 earnings at $13.21 EPS.

JPMorgan Chase & Co. (NYSE:JPMGet Rating) last posted its earnings results on Wednesday, April 13th. The financial services provider reported $2.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.73 by ($0.10). The firm had revenue of $30.72 billion for the quarter, compared to analysts’ expectations of $30.53 billion. JPMorgan Chase & Co. had a return on equity of 16.58% and a net margin of 33.61%. The company’s revenue was down 4.8% compared to the same quarter last year. During the same period in the previous year, the company earned $4.50 earnings per share.

A number of other brokerages have also weighed in on JPM. Royal Bank of Canada set a $175.00 price target on shares of JPMorgan Chase & Co. and gave the company an “outperform” rating in a research note on Thursday, April 14th. Berenberg Bank set a $120.00 price objective on shares of JPMorgan Chase & Co. in a report on Tuesday, April 19th. The Goldman Sachs Group set a $151.00 price objective on shares of JPMorgan Chase & Co. and gave the company a “buy” rating in a report on Thursday, April 14th. Argus cut their price objective on shares of JPMorgan Chase & Co. from $177.00 to $155.00 in a report on Thursday, April 14th. Finally, Barclays set a $200.00 price objective on shares of JPMorgan Chase & Co. in a report on Monday. One research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, JPMorgan Chase & Co. has a consensus rating of “Hold” and an average price target of $161.05.

Shares of JPMorgan Chase & Co. stock opened at $127.24 on Thursday. The firm has a market capitalization of $373.71 billion, a PE ratio of 9.44, a P/E/G ratio of 2.15 and a beta of 1.12. JPMorgan Chase & Co. has a twelve month low of $115.02 and a twelve month high of $172.96. The firm’s 50-day moving average price is $128.79 and its 200 day moving average price is $145.50. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.16.

Institutional investors have recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in JPMorgan Chase & Co. during the 4th quarter worth $4,092,843,000. Vanguard Group Inc. raised its stake in JPMorgan Chase & Co. by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 266,854,574 shares of the financial services provider’s stock worth $36,377,615,000 after acquiring an additional 6,792,220 shares in the last quarter. GQG Partners LLC raised its stake in JPMorgan Chase & Co. by 403.3% during the 4th quarter. GQG Partners LLC now owns 5,095,612 shares of the financial services provider’s stock worth $806,728,000 after acquiring an additional 4,083,231 shares in the last quarter. Renaissance Technologies LLC raised its stake in JPMorgan Chase & Co. by 1,543.7% during the 4th quarter. Renaissance Technologies LLC now owns 3,341,486 shares of the financial services provider’s stock worth $529,124,000 after acquiring an additional 3,138,200 shares in the last quarter. Finally, Capital World Investors raised its stake in JPMorgan Chase & Co. by 3.9% during the 3rd quarter. Capital World Investors now owns 74,302,154 shares of the financial services provider’s stock worth $12,162,752,000 after acquiring an additional 2,764,341 shares in the last quarter. 70.35% of the stock is owned by institutional investors and hedge funds.

In other news, CEO Jennifer Piepszak sold 4,668 shares of JPMorgan Chase & Co. stock in a transaction on Thursday, April 14th. The shares were sold at an average price of $126.19, for a total transaction of $589,054.92. Following the completion of the sale, the chief executive officer now directly owns 11,135 shares of the company’s stock, valued at approximately $1,405,125.65. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Ashley Bacon sold 21,012 shares of JPMorgan Chase & Co. stock in a transaction on Tuesday, April 19th. The stock was sold at an average price of $130.04, for a total transaction of $2,732,400.48. Following the sale, the insider now directly owns 178,588 shares of the company’s stock, valued at $23,223,583.52. The disclosure for this sale can be found here. Company insiders own 0.79% of the company’s stock.

The firm also recently declared a quarterly dividend, which will be paid on Sunday, July 31st. Shareholders of record on Wednesday, July 6th will be given a $1.00 dividend. The ex-dividend date of this dividend is Tuesday, July 5th. This represents a $4.00 annualized dividend and a yield of 3.14%. JPMorgan Chase & Co.’s dividend payout ratio is presently 29.67%.

About JPMorgan Chase & Co. (Get Rating)

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 s deposit, investment and lending products, payments, and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit card, auto loan, and leasing services.

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Earnings History and Estimates for JPMorgan Chase & Co. (NYSE:JPM)

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