JPMorgan Chase & Co. (NYSE:JPM) Trading 0.9% Higher After Analyst Upgrade

JPMorgan Chase & Co. (NYSE:JPM)’s stock price was up 0.9% on Tuesday after Oppenheimer raised their price target on the stock from $232.00 to $241.00. Oppenheimer currently has an outperform rating on the stock. JPMorgan Chase & Co. traded as high as $221.78 and last traded at $221.69. Approximately 1,118,253 shares changed hands during trading, a decline of 88% from the average daily volume of 8,968,286 shares. The stock had previously closed at $219.78.

Other equities research analysts have also issued reports about the stock. Wells Fargo & Company boosted their target price on shares of JPMorgan Chase & Co. from $220.00 to $225.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. Piper Sandler boosted their price objective on shares of JPMorgan Chase & Co. from $220.00 to $230.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th. Evercore ISI raised their target price on JPMorgan Chase & Co. from $217.00 to $230.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. BMO Capital Markets lifted their target price on JPMorgan Chase & Co. from $195.00 to $205.00 and gave the stock a “market perform” rating in a report on Thursday, July 11th. Finally, Keefe, Bruyette & Woods increased their price target on JPMorgan Chase & Co. from $209.00 to $211.00 and gave the company a “market perform” rating in a research note on Tuesday, July 9th. Eight analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $223.38.

Hedge Funds Weigh In On JPMorgan Chase & Co.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Catalyst Capital Advisors LLC bought a new position in shares of JPMorgan Chase & Co. in the third quarter valued at $27,000. Retirement Group LLC increased its holdings in JPMorgan Chase & Co. by 227.1% during the 1st quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 109 shares in the last quarter. Fairway Wealth LLC bought a new stake in JPMorgan Chase & Co. during the 2nd quarter worth approximately $32,000. Anfield Capital Management LLC purchased a new stake in shares of JPMorgan Chase & Co. in the second quarter worth approximately $34,000. Finally, West Financial Advisors LLC bought a new position in shares of JPMorgan Chase & Co. in the third quarter valued at approximately $37,000. Institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Price Performance

The company has a fifty day moving average of $216.19 and a 200-day moving average of $207.43. The firm has a market cap of $623.82 billion, a P/E ratio of 12.33, a P/E/G ratio of 3.25 and a beta of 1.10. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.89 and a quick ratio of 0.89.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data on Friday, October 11th. The financial services provider reported $4.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.02 by $0.35. The firm had revenue of $43.32 billion for the quarter, compared to the consensus estimate of $41.43 billion. JPMorgan Chase & Co. had a net margin of 19.64% and a return on equity of 16.71%. The business’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 firm earned $4.33 EPS. On average, sell-side analysts anticipate that JPMorgan Chase & Co. will post 17.52 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. Shareholders of record on Friday, October 4th were paid a $1.25 dividend. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date was Friday, October 4th. This represents a $5.00 annualized dividend and a yield of 2.26%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 27.82%.

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.