JPMorgan Chase & Co. (NYSE:JPM) Price Target Raised to $340.00

JPMorgan Chase & Co. (NYSE:JPM) had its price objective boosted by Bank of America from $330.00 to $340.00 in a report issued on Wednesday morning,Benzinga reports. Bank of America currently has a buy rating on the financial services provider’s stock.

Several other analysts have also recently weighed in on the company. Truist Financial lifted their price objective on JPMorgan Chase & Co. from $280.00 to $290.00 and gave the company a “hold” rating in a research report on Wednesday, July 9th. TD Cowen assumed coverage on shares of JPMorgan Chase & Co. in a report on Thursday, May 15th. They issued a “buy” rating and a $305.00 price objective for the company. Piper Sandler reiterated an “overweight” rating on shares of JPMorgan Chase & Co. in a research note on Tuesday. Cowen reiterated a “buy” rating on shares of JPMorgan Chase & Co. in a research note on Tuesday, May 20th. Finally, Evercore ISI set a $298.00 price objective on JPMorgan Chase & Co. and gave the stock an “outperform” rating in a research note on Monday, July 7th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $288.68.

JPMorgan Chase & Co. Stock Up 0.5%

JPM opened at $291.22 on Wednesday. The company has a market cap of $809.33 billion, a P/E ratio of 14.94, a P/E/G ratio of 2.53 and a beta of 1.10. The business’s 50-day moving average price is $274.67 and its 200-day moving average price is $257.92. The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.25. JPMorgan Chase & Co. has a 12 month low of $190.90 and a 12 month high of $296.40.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.48 by $0.48. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%. The company had revenue of $44.91 billion for the quarter, compared to the consensus estimate of $43.76 billion. During the same quarter in the previous year, the business earned $6.12 EPS. JPMorgan Chase & Co.’s revenue was down 10.5% compared to the same quarter last year. On average, equities analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, July 3rd will be issued a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date of this dividend is Thursday, July 3rd. JPMorgan Chase & Co.’s payout ratio is 28.73%.

Insider Buying and Selling at JPMorgan Chase & Co.

In related news, CFO Jeremy Barnum sold 40,014 shares of the stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $250.77, for a total value of $10,034,310.78. Following the sale, the chief financial officer directly owned 18,017 shares of the company’s stock, valued at $4,518,123.09. This represents a 68.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Linda Bammann sold 9,500 shares of the stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $250.00, for a total transaction of $2,375,000.00. Following the completion of the sale, the director directly owned 91,539 shares in the company, valued at $22,884,750. This trade represents a 9.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 71,200 shares of company stock worth $18,060,015 in the last 90 days. 0.47% of the stock is currently owned by insiders.

Hedge Funds Weigh In On JPMorgan Chase & Co.

Institutional investors have recently modified their holdings of the stock. Fourth Dimension Wealth LLC purchased a new stake in JPMorgan Chase & Co. during the fourth quarter worth $471,000. Crown Wealth Group LLC grew its stake in JPMorgan Chase & Co. by 5.4% during the 1st quarter. Crown Wealth Group LLC now owns 4,320 shares of the financial services provider’s stock valued at $1,060,000 after acquiring an additional 222 shares in the last quarter. Hidden Cove Wealth Management LLC grew its stake in JPMorgan Chase & Co. by 4.2% during the 1st quarter. Hidden Cove Wealth Management LLC now owns 2,758 shares of the financial services provider’s stock valued at $677,000 after acquiring an additional 112 shares in the last quarter. Aaron Wealth Advisors LLC grew its stake in JPMorgan Chase & Co. by 6.4% during the 1st quarter. Aaron Wealth Advisors LLC now owns 20,191 shares of the financial services provider’s stock valued at $4,953,000 after acquiring an additional 1,218 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. grew its stake in JPMorgan Chase & Co. by 11.1% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 15,648 shares of the financial services provider’s stock valued at $3,838,000 after acquiring an additional 1,561 shares in the last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.

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.