JPMorgan Chase & Co. (NYSE:JPM) Upgraded at Zacks Research

Zacks Research upgraded shares of JPMorgan Chase & Co. (NYSE:JPM) from a hold rating to a strong-buy rating in a research note issued to investors on Monday morning,Zacks.com reports.

Other research analysts have also issued reports about the stock. Wolfe Research raised their target price on shares of JPMorgan Chase & Co. from $342.00 to $346.00 and gave the company an “outperform” rating in a report on Thursday, October 16th. DZ Bank reissued a “neutral” rating on shares of JPMorgan Chase & Co. in a report on Wednesday, October 15th. Bank of America raised their target price on shares of JPMorgan Chase & Co. from $330.00 to $340.00 and gave the company a “buy” rating in a report on Wednesday, July 16th. Citigroup raised their target price on shares of JPMorgan Chase & Co. from $275.00 to $325.00 and gave the company a “neutral” rating in a report on Wednesday, September 24th. Finally, Evercore ISI lifted their target price on JPMorgan Chase & Co. from $309.00 to $330.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 30th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, JPMorgan Chase & Co. has a consensus rating of “Moderate Buy” and a consensus price target of $322.86.

JPMorgan Chase & Co. Stock Performance

Shares of JPMorgan Chase & Co. stock opened at $293.83 on Monday. The stock has a market cap of $807.96 billion, a price-to-earnings ratio of 14.55, a PEG ratio of 1.79 and a beta of 1.13. The firm’s 50-day moving average is $303.23 and its 200 day moving average is $279.98. JPMorgan Chase & Co. has a 1 year low of $202.16 and a 1 year high of $318.01. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.86 and a quick ratio of 0.88.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $5.07 EPS for the quarter, beating the consensus estimate of $4.83 by $0.24. JPMorgan Chase & Co. had a net margin of 20.90% and a return on equity of 17.18%. The firm had revenue of $46.43 billion during the quarter, compared to analyst estimates of $44.42 billion. During the same quarter in the prior year, the firm earned $4.37 EPS. The business’s revenue for the quarter was up 8.8% compared to the same quarter last year. Sell-side 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. Investors of record on Monday, October 6th will be given a $1.50 dividend. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. This represents a $6.00 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Monday, October 6th. JPMorgan Chase & Co.’s payout ratio is currently 29.72%.

Insider Buying and Selling

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of the company’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 sale, the director owned 82,207 shares in the company, valued at approximately $24,492,753.58. This represents a 10.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.47% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in JPM. Harbor Asset Planning Inc. acquired a new position in JPMorgan Chase & Co. in the 2nd quarter valued at $26,000. MJT & Associates Financial Advisory Group Inc. acquired a new position in JPMorgan Chase & Co. in the 1st quarter valued at $28,000. University of Illinois Foundation acquired a new position in JPMorgan Chase & Co. in the 1st quarter valued at $30,000. Mizuho Securities Co. Ltd. raised its stake in JPMorgan Chase & Co. by 450.0% in the 2nd quarter. Mizuho Securities Co. Ltd. now owns 110 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 90 shares during the last quarter. Finally, Family Legacy Financial Solutions LLC raised its stake in JPMorgan Chase & Co. by 92.6% in the 3rd quarter. Family Legacy Financial Solutions LLC now owns 104 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 50 shares during the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

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.