Wells Fargo & Company Issues Positive Forecast for JPMorgan Chase & Co. (NYSE:JPM) Stock Price

JPMorgan Chase & Co. (NYSE:JPM) had its price objective boosted by Wells Fargo & Company from $325.00 to $345.00 in a research note issued to investors on Tuesday, Marketbeat reports. They currently have an overweight rating on the financial services provider’s stock.

JPM has been the subject of a number of other research reports. Evercore ISI set a $298.00 price objective on shares of JPMorgan Chase & Co. and gave the company an “outperform” rating in a research report on Monday, July 7th. Royal Bank Of Canada set a $305.00 price target on JPMorgan Chase & Co. and gave the stock an “outperform” rating in a report on Monday, June 30th. Keefe, Bruyette & Woods boosted their price target on JPMorgan Chase & Co. from $327.00 to $330.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 16th. Hsbc Global Res cut JPMorgan Chase & Co. from a “hold” rating to a “moderate sell” rating in a research report on Tuesday, July 8th. Finally, Bank of America lifted their target price on JPMorgan Chase & Co. from $330.00 to $340.00 and gave the stock a “buy” rating in a research note on Wednesday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, six have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $292.78.

JPMorgan Chase & Co. Stock Up 0.1%

JPM stock opened at $309.19 on Tuesday. The company has a market cap of $850.20 billion, a price-to-earnings ratio of 15.86, a P/E/G ratio of 2.05 and a beta of 1.13. JPMorgan Chase & Co. has a twelve month low of $202.16 and a twelve month high of $310.90. The business has a 50 day moving average price of $294.81 and a two-hundred day moving average price of $268.04. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.25.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $4.96 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $43.76 billion. During the same quarter in the prior year, the firm posted $6.12 EPS. The firm’s revenue for the quarter was down 10.5% compared to the same quarter last year. Analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, October 6th will be issued a $1.50 dividend. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. This represents a $6.00 annualized dividend and a yield of 1.9%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 28.73%.

Insider Activity at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $297.94, for a total transaction of $2,830,430.00. Following the completion of the transaction, the director directly owned 82,207 shares in the company, valued at $24,492,753.58. The trade was a 10.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.47% of the company’s stock.

Hedge Funds Weigh In On JPMorgan Chase & Co.

Institutional investors have recently modified their holdings of the business. Kingstone Capital Partners Texas LLC boosted its stake in shares of JPMorgan Chase & Co. by 609,867.5% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 72,897,211 shares of the financial services provider’s stock valued at $21,133,630,000 after purchasing an additional 72,885,260 shares in the last quarter. Norges Bank bought a new position in JPMorgan Chase & Co. in the 2nd quarter valued at approximately $10,295,209,000. GAMMA Investing LLC boosted its position in JPMorgan Chase & Co. by 25,861.9% in the first quarter. GAMMA Investing LLC now owns 23,556,011 shares of the financial services provider’s stock valued at $5,778,289,000 after buying an additional 23,465,278 shares in the last quarter. Laurel Wealth Advisors LLC grew its stake in shares of JPMorgan Chase & Co. by 28,813.7% during the second quarter. Laurel Wealth Advisors LLC now owns 16,785,584 shares of the financial services provider’s stock worth $4,866,309,000 after buying an additional 16,727,530 shares during the last quarter. Finally, Nuveen LLC acquired a new position in shares of JPMorgan Chase & Co. during the first quarter worth $3,972,807,000. Institutional investors and hedge funds own 71.55% of the company’s stock.

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.