JPMorgan Chase & Co. (NYSE:JPM) Price Target Raised to $354.00

JPMorgan Chase & Co. (NYSE:JPM) had its target price upped by Keefe, Bruyette & Woods from $330.00 to $354.00 in a research report sent to investors on Friday morning,MarketScreener reports. The firm currently has an outperform rating on the financial services provider’s stock.

JPM has been the topic of several other reports. Morgan Stanley increased their price target on shares of JPMorgan Chase & Co. from $298.00 to $336.00 and gave the company an “equal weight” rating in a research note on Monday, September 29th. The Goldman Sachs Group increased their price target on shares of JPMorgan Chase & Co. from $336.00 to $350.00 and gave the company a “buy” rating in a research note on Friday, October 3rd. Weiss Ratings reiterated a “buy (b+)” rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, October 8th. UBS Group raised their target price on shares of JPMorgan Chase & Co. from $339.00 to $350.00 and gave the stock a “buy” rating in a research report on Tuesday, October 7th. Finally, Bank of America raised their target price on shares of JPMorgan Chase & Co. from $330.00 to $340.00 and gave the stock a “buy” rating in a research report on Wednesday, July 16th. Fifteen investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $316.00.

JPMorgan Chase & Co. Stock Performance

Shares of JPMorgan Chase & Co. stock opened at $301.12 on Friday. The firm has a market capitalization of $828.00 billion, a P/E ratio of 15.45, a P/E/G ratio of 1.94 and a beta of 1.13. JPMorgan Chase & Co. has a 52 week low of $202.16 and a 52 week high of $318.01. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.25. The firm’s 50 day moving average is $301.61 and its two-hundred day moving average is $276.98.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results 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. The company had revenue of $44.91 billion for the quarter, compared to analyst estimates of $43.76 billion. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The firm’s revenue was down 10.5% on a year-over-year basis. During the same period in the prior year, the firm posted $6.12 earnings per share. Research analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, October 6th will be given a $1.50 dividend. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. The ex-dividend date is Monday, October 6th. This represents a $6.00 dividend on an annualized basis and a yield of 2.0%. JPMorgan Chase & Co.’s payout ratio is 30.79%.

Insiders Place Their Bets

In related news, Director Linda Bammann sold 9,500 shares of JPMorgan Chase & Co. stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $297.94, for a total value of $2,830,430.00. Following the transaction, the director directly owned 82,207 shares in the company, valued at $24,492,753.58. This trade represents a 10.36% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.47% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On JPMorgan Chase & Co.

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Harbor Asset Planning Inc. acquired a new stake in JPMorgan Chase & Co. in the second quarter valued at $26,000. MJT & Associates Financial Advisory Group Inc. acquired a new stake in JPMorgan Chase & Co. in the first quarter valued at $28,000. University of Illinois Foundation acquired a new stake in JPMorgan Chase & Co. in the first quarter valued at $30,000. Mizuho Securities Co. Ltd. lifted its holdings in JPMorgan Chase & Co. by 450.0% in the second quarter. Mizuho Securities Co. Ltd. now owns 110 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 90 shares during the period. Finally, Family Legacy Financial Solutions LLC lifted its holdings in JPMorgan Chase & Co. by 92.6% in the third quarter. Family Legacy Financial Solutions LLC now owns 104 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 50 shares during the period. 71.55% of the stock is currently 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.