JPMorgan Chase & Co. (NYSE:JPM) Trading 2.1% Higher Following Analyst Upgrade

JPMorgan Chase & Co. (NYSE:JPM) shares shot up 2.1% during mid-day trading on Wednesday after Bank of America raised their price target on the stock from $300.00 to $325.00. Bank of America currently has a buy rating on the stock. JPMorgan Chase & Co. traded as high as $277.72 and last traded at $275.30. 2,913,025 shares traded hands during trading, a decline of 71% from the average session volume of 10,203,539 shares. The stock had previously closed at $269.52.

Several other equities analysts have also weighed in on the stock. TD Cowen assumed coverage on shares of JPMorgan Chase & Co. in a report on Thursday, May 15th. They set a “buy” rating and a $305.00 target price for the company. TD Securities reaffirmed a “buy” rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, June 4th. Cowen reiterated a “buy” rating on shares of JPMorgan Chase & Co. in a report on Tuesday, May 20th. Evercore ISI reduced their price target on JPMorgan Chase & Co. from $273.00 to $265.00 and set an “outperform” rating on the stock in a report on Tuesday, April 1st. Finally, Piper Sandler reiterated a “hold” rating on shares of JPMorgan Chase & Co. in a report on Monday, June 2nd. Thirteen analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, JPMorgan Chase & Co. presently has an average rating of “Hold” and an average price target of $271.70.

Insiders Place Their Bets

In other news, COO Jennifer Piepszak sold 4,272 shares of the business’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $247.03, for a total transaction of $1,055,312.16. Following the completion of the transaction, the chief operating officer now directly owns 50,197 shares of the company’s stock, valued at approximately $12,400,164.91. The trade was a 7.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Stacey Friedman sold 6,608 shares of the business’s stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $265.71, for a total value of $1,755,811.68. Following the transaction, the general counsel now directly owns 36,520 shares of the company’s stock, valued at approximately $9,703,729.20. This represents a 15.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 101,722 shares of company stock worth $25,599,477 over the last three months. Company insiders own 0.47% of the company’s stock.

Hedge Funds Weigh In On JPMorgan Chase & Co.

A number of institutional investors and hedge funds have recently made changes to their positions in JPM. Capital & Planning LLC boosted its holdings in JPMorgan Chase & Co. by 13.3% in the fourth quarter. Capital & Planning LLC now owns 2,357 shares of the financial services provider’s stock valued at $565,000 after purchasing an additional 276 shares in the last quarter. Brighton Jones LLC boosted its holdings in shares of JPMorgan Chase & Co. by 11.0% in the fourth quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider’s stock valued at $11,682,000 after acquiring an additional 4,841 shares during the period. Union Bancaire Privee UBP SA acquired a new stake in shares of JPMorgan Chase & Co. in the fourth quarter valued at approximately $66,088,000. SOA Wealth Advisors LLC. boosted its holdings in shares of JPMorgan Chase & Co. by 1.2% in the fourth quarter. SOA Wealth Advisors LLC. now owns 21,337 shares of the financial services provider’s stock valued at $5,115,000 after acquiring an additional 255 shares during the period. Finally, OMC Financial Services LTD boosted its holdings in shares of JPMorgan Chase & Co. by 35.1% in the fourth quarter. OMC Financial Services LTD now owns 7,840 shares of the financial services provider’s stock valued at $1,879,000 after acquiring an additional 2,035 shares during the period. 71.55% of the stock is owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Price Performance

The firm has a market capitalization of $760.98 billion, a price-to-earnings ratio of 13.44, a P/E/G ratio of 2.72 and a beta of 1.08. The company has a fifty day moving average price of $254.66 and a two-hundred day moving average price of $251.00. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.23.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data on Friday, April 11th. The financial services provider reported $5.07 earnings per share for the quarter, beating the consensus estimate of $4.63 by $0.44. The business had revenue of $45.30 billion during the quarter, compared to the consensus estimate of $43.62 billion. JPMorgan Chase & Co. had a return on equity of 16.88% and a net margin of 21.21%. The company’s revenue was up 8.0% compared to the same quarter last year. During the same period in the prior year, the company earned $4.44 earnings per share. On average, equities research analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders 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 dividend yield of 2.05%. The ex-dividend date of this dividend is Thursday, July 3rd. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 27.49%.

JPMorgan Chase & Co. Company Profile

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.