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 report report published on Thursday,Zacks.com reports.

Other equities analysts have also recently issued research reports about the stock. Dbs Bank raised shares of JPMorgan Chase & Co. to a “hold” rating in a research report on Tuesday, May 12th. HSBC upped their target price on JPMorgan Chase & Co. from $288.00 to $312.00 and gave the company a “hold” rating in a report on Monday, May 4th. Morgan Stanley reaffirmed a “positive” rating and set a $370.00 price target on shares of JPMorgan Chase & Co. in a research report on Wednesday. Bank of America lifted their price target on JPMorgan Chase & Co. from $408.00 to $420.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Argus boosted their price objective on JPMorgan Chase & Co. from $340.00 to $355.00 and gave the stock a “buy” rating in a research report on Wednesday, April 15th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and twelve have issued a Hold rating to the stock. Based on data from MarketBeat.com, JPMorgan Chase & Co. currently has an average rating of “Moderate Buy” and an average target price of $354.92.

JPMorgan Chase & Co. Stock Down 0.5%

JPMorgan Chase & Co. stock opened at $341.60 on Thursday. JPMorgan Chase & Co. has a fifty-two week low of $279.10 and a fifty-two week high of $351.24. The stock has a market cap of $915.33 billion, a PE ratio of 14.64, a price-to-earnings-growth ratio of 1.53 and a beta of 0.99. The firm’s 50-day simple moving average is $319.11 and its 200 day simple moving average is $310.31. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.86 and a current ratio of 0.85.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Monday, July 6th will be given a $1.50 dividend. The ex-dividend date of this dividend is Monday, July 6th. This represents a $6.00 annualized dividend and a dividend yield of 1.8%. JPMorgan Chase & Co.’s payout ratio is 25.71%.

Insider Activity at JPMorgan Chase & Co.

In related news, COO Jennifer Piepszak sold 4,919 shares of the business’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $309.42, for a total transaction of $1,522,036.98. Following the sale, the chief operating officer directly owned 85,082 shares in the company, valued at approximately $26,326,072.44. The trade was a 5.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Jeremy Barnum sold 3,022 shares of the stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $309.41, for a total value of $935,037.02. Following the sale, the chief financial officer directly owned 32,438 shares in the company, valued at $10,036,641.58. This trade represents a 8.52% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 18,876 shares of company stock worth $5,907,051. 0.41% of the stock is owned by corporate insiders.

Institutional Trading of JPMorgan Chase & Co.

Large investors have recently modified their holdings of the business. Morgan Stanley raised its position in shares of JPMorgan Chase & Co. by 1.4% during the 4th quarter. Morgan Stanley now owns 66,385,268 shares of the financial services provider’s stock valued at $21,390,662,000 after buying an additional 939,421 shares in the last quarter. Bank of America Corp DE grew its position in JPMorgan Chase & Co. by 15.8% in the first quarter. Bank of America Corp DE now owns 65,660,460 shares of the financial services provider’s stock worth $19,314,681,000 after acquiring an additional 8,941,351 shares in the last quarter. Norges Bank purchased a new position in JPMorgan Chase & Co. in the fourth quarter worth $11,396,496,000. Bank of New York Mellon Corp increased its stake in JPMorgan Chase & Co. by 5.4% in the fourth quarter. Bank of New York Mellon Corp now owns 23,424,482 shares of the financial services provider’s stock valued at $7,547,837,000 after acquiring an additional 1,194,583 shares during the last quarter. Finally, Legal & General Group Plc increased its stake in JPMorgan Chase & Co. by 0.6% in the fourth quarter. Legal & General Group Plc now owns 19,019,564 shares of the financial services provider’s stock valued at $6,128,484,000 after acquiring an additional 110,586 shares during the last quarter. Institutional investors own 71.55% of the company’s stock.

More JPMorgan Chase & Co. News

Here are the key news stories impacting JPMorgan Chase & Co. this week:

• Positive Sentiment: JPMorgan’s blowout Q2 earnings are driving bullish sentiment, with the bank reporting record profits, 41% higher net income, strong trading and investment banking activity, and higher full-year net interest income guidance. JPMorgan Just Reported $21.2 Billion in Q2 Net Income — Up 41% — and CEO Jamie Dimon Said the Economy Is “Close to as Good as It Gets.”
• Positive Sentiment: Analysts have been raising expectations after the results, including multiple higher price targets and upgraded earnings forecasts, signaling confidence that JPMorgan can continue to outperform. JPMorgan Price Target Raised to $380 on Strong Q2 Results, Upgraded Outlook and Capital Strength
• Positive Sentiment: The stock is also benefiting from expectations that JPMorgan may raise its quarterly dividend by 10% after passing the Federal Reserve stress test, reinforcing the bank’s capital strength and shareholder-return story. JPM Stock Just Staged a Record Bull Run. 1 Analyst Thinks It Can Still Soar to $420.
• Neutral Sentiment: JPMorgan was added to several “Strong Buy” and momentum/income stock lists, which adds to positive sentiment but is less directly impactful than earnings or guidance. New Strong Buy Stocks for July 17th
• Neutral Sentiment: JPMorgan also drew attention for major financing activity and a $24 million Philadelphia shipbuilding investment, highlighting ongoing business expansion and capital deployment. JPMorgan Chase (JPM) Puts $24 Million Into Philadelphia Shipbuilding And Defense
• Negative Sentiment: Late-day sector weakness in financial stocks may be limiting JPMorgan’s upside even as company-specific fundamentals remain strong. Sector Update: Financial Stocks Decline Friday Afternoon

About JPMorgan Chase & Co.

JPMorgan Chase & Co (NYSE: JPM) is a diversified global financial services firm headquartered in New York City. The company provides a wide range of banking and financial products and services to consumers, small businesses, corporations, governments and institutional investors worldwide. Its operations span retail banking, commercial lending, investment banking, asset management, payments and card services, and treasury and securities services.

The firm’s principal business activities are organized across several core lines: Consumer & Community Banking, which offers deposit accounts, mortgages, auto loans, credit cards and branch and digital banking under the Chase brand; Corporate & Investment Banking, which provides capital markets, advisory, underwriting, trading and risk management services; Commercial Banking, delivering lending, treasury and capital solutions to middle-market and corporate clients; and Asset & Wealth Management, which offers investment management, private banking and retirement services to institutions and high-net-worth individuals.