JPMorgan Chase & Co. (NYSE:JPM) Trading Up 2.4% After Analyst Upgrade

JPMorgan Chase & Co. (NYSE:JPM)’s share price shot up 2.4% during mid-day trading on Monday after Daiwa Capital Markets raised their price target on the stock from $330.00 to $332.00. Daiwa Capital Markets currently has an outperform rating on the stock. JPMorgan Chase & Co. traded as high as $309.46 and last traded at $308.08. 10,320,971 shares changed hands during mid-day trading, an increase of 8% from the average session volume of 9,535,854 shares. The stock had previously closed at $300.89.

A number of other research firms also recently issued reports on JPM. Evercore ISI increased their price objective on JPMorgan Chase & Co. from $309.00 to $330.00 and gave the stock an “outperform” rating in a report on Tuesday, September 30th. UBS Group increased their price objective on JPMorgan Chase & Co. from $339.00 to $350.00 and gave the stock a “buy” rating in a report on Tuesday, October 7th. Truist Financial increased their price objective on JPMorgan Chase & Co. from $290.00 to $319.00 and gave the stock a “hold” rating in a report on Tuesday, September 23rd. Baird R W downgraded JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a report on Friday, June 27th. Finally, The Goldman Sachs Group increased their price objective on JPMorgan Chase & Co. from $336.00 to $350.00 and gave the stock a “buy” rating in a report on Friday, October 3rd. Fifteen equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $316.00.

Insider Activity at JPMorgan Chase & Co.

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

Institutional Trading of JPMorgan Chase & Co.

Hedge funds have recently made changes to their positions in the business. Kingstone Capital Partners Texas LLC raised its holdings in 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 acquiring an additional 72,885,260 shares in the last quarter. Geode Capital Management LLC raised its holdings in JPMorgan Chase & Co. by 0.5% in the 2nd quarter. Geode Capital Management LLC now owns 61,129,271 shares of the financial services provider’s stock valued at $17,646,506,000 after acquiring an additional 300,160 shares in the last quarter. Norges Bank acquired a new position in JPMorgan Chase & Co. in the 2nd quarter valued at $10,295,209,000. Bank of New York Mellon Corp raised its holdings in JPMorgan Chase & Co. by 1.9% in the 1st quarter. Bank of New York Mellon Corp now owns 24,801,153 shares of the financial services provider’s stock valued at $6,083,723,000 after acquiring an additional 454,226 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in shares of JPMorgan Chase & Co. by 2.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 20,548,182 shares of the financial services provider’s stock valued at $5,040,469,000 after purchasing an additional 548,853 shares during the last quarter. 71.55% of the stock is owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Stock Performance

The company has a 50 day moving average price of $301.89 and a 200-day moving average price of $277.44. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.25. The company has a market cap of $847.15 billion, a P/E ratio of 15.81, a price-to-earnings-growth ratio of 1.94 and a beta of 1.13.

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

JPMorgan Chase & Co. Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, October 6th will be paid a dividend of $1.50 per share. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend is Monday, October 6th. This represents a $6.00 dividend on an annualized basis and a yield of 1.9%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 30.79%.

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.