Truist Financial Issues Positive Forecast for JPMorgan Chase & Co. (NYSE:JPM) Stock Price

JPMorgan Chase & Co. (NYSE:JPM) had its price objective boosted by Truist Financial from $270.00 to $280.00 in a research note released on Monday morning,Benzinga reports. Truist Financial currently has a hold rating on the financial services provider’s stock.

Several other research firms have also recently weighed in on JPM. UBS Group raised their target price on shares of JPMorgan Chase & Co. from $277.00 to $305.00 and gave the company a “buy” rating in a research note on Thursday, April 17th. Cowen reissued a “buy” rating on shares of JPMorgan Chase & Co. in a research note on Tuesday, May 20th. Bank of America dropped their price objective on shares of JPMorgan Chase & Co. from $285.00 to $284.00 and set a “buy” rating for the company in a research note on Wednesday, April 2nd. Baird R W raised shares of JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a research note on Friday, March 7th. Finally, TD Securities raised their target price on shares of JPMorgan Chase & Co. from $305.00 to $315.00 and gave the stock a “buy” rating in a report on Tuesday, May 20th. Thirteen investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $267.15.

JPMorgan Chase & Co. Stock Up 0.2%

JPM opened at $264.46 on Monday. The firm’s 50 day simple moving average is $246.13 and its two-hundred day simple moving average is $249.37. The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.24. The company has a market capitalization of $734.96 billion, a PE ratio of 13.40, a PEG ratio of 2.83 and a beta of 1.07. JPMorgan Chase & Co. has a 1-year low of $190.88 and a 1-year high of $280.25.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data on Friday, April 11th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.63 by $0.44. The firm had revenue of $45.30 billion during the quarter, compared to analysts’ expectations of $43.62 billion. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The company’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same period in the prior year, the company posted $4.44 earnings per share. As a group, equities analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 3rd will be paid a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 2.12%. The ex-dividend date is Thursday, July 3rd. JPMorgan Chase & Co.’s payout ratio is 27.49%.

Insider Buying and Selling at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, insider Robin Leopold sold 1,250 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $246.92, for a total transaction of $308,650.00. Following the completion of the sale, the insider now directly owns 49,127 shares in the company, valued at approximately $12,130,438.84. The trade was a 2.48% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Troy L. Rohrbaugh sold 25,000 shares of the business’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $247.02, for a total transaction of $6,175,500.00. Following the completion of the transaction, the chief executive officer now owns 133,381 shares of the company’s stock, valued at approximately $32,947,774.62. This represents a 15.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 95,594 shares of company stock worth $23,991,061. Company insiders own 0.47% of the company’s stock.

Hedge Funds Weigh In On JPMorgan Chase & Co.

A number of large investors have recently added to or reduced their stakes in JPM. Norges Bank acquired a new position in JPMorgan Chase & Co. during the fourth quarter worth $8,310,884,000. GAMMA Investing LLC grew its holdings in shares of JPMorgan Chase & Co. by 25,861.9% during the first quarter. GAMMA Investing LLC now owns 23,556,011 shares of the financial services provider’s stock worth $5,778,289,000 after buying an additional 23,465,278 shares in the last quarter. Nuveen LLC purchased a new stake in shares of JPMorgan Chase & Co. during the first quarter worth $3,972,807,000. Northern Trust Corp grew its holdings in shares of JPMorgan Chase & Co. by 15.4% during the fourth quarter. Northern Trust Corp now owns 33,845,676 shares of the financial services provider’s stock worth $8,113,147,000 after buying an additional 4,515,147 shares in the last quarter. Finally, Proficio Capital Partners LLC grew its holdings in shares of JPMorgan Chase & Co. by 34,259.3% during the fourth quarter. Proficio Capital Partners LLC now owns 3,499,499 shares of the financial services provider’s stock worth $838,865,000 after buying an additional 3,489,314 shares in the last quarter. 71.55% of the stock is currently owned by institutional investors and hedge funds.

About JPMorgan Chase & Co.

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.