JPMorgan Chase & Co. (NYSE:JPM) Hits New 12-Month High – Here’s Why

JPMorgan Chase & Co. (NYSE:JPM)’s share price reached a new 52-week high on Monday . The stock traded as high as $251.00 and last traded at $251.00, with a volume of 14157 shares. The stock had previously closed at $248.55.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on JPM. Oppenheimer cut shares of JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 20th. Baird R W lowered shares of JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a report on Thursday, November 7th. Barclays raised their price objective on JPMorgan Chase & Co. from $217.00 to $257.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Citigroup boosted their target price on JPMorgan Chase & Co. from $215.00 to $250.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. Finally, Morgan Stanley downgraded JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and increased their price target for the stock from $220.00 to $224.00 in a report on Monday, September 30th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $229.31.

JPMorgan Chase & Co. Stock Down 0.1 %

The firm’s 50 day simple moving average is $224.80 and its 200-day simple moving average is $212.74. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.27. The stock has a market capitalization of $703.75 billion, a price-to-earnings ratio of 13.91, a price-to-earnings-growth ratio of 3.61 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.02 by $0.35. The business had revenue of $43.32 billion for the quarter, compared to analyst estimates of $41.43 billion. JPMorgan Chase & Co. had a return on equity of 16.71% and a net margin of 19.64%. JPMorgan Chase & Co.’s revenue was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $4.33 earnings per share. Equities analysts expect that JPMorgan Chase & Co. will post 17.62 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 4th were paid a $1.25 dividend. The ex-dividend date of this dividend was Friday, October 4th. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. This represents a $5.00 annualized dividend and a dividend yield of 2.00%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 27.82%.

Institutional Trading of JPMorgan Chase & Co.

Several institutional investors and hedge funds have recently added to or reduced their stakes in JPM. Accredited Investors Inc. raised its holdings in shares of JPMorgan Chase & Co. by 4.9% in the 2nd quarter. Accredited Investors Inc. now owns 14,174 shares of the financial services provider’s stock valued at $2,867,000 after purchasing an additional 667 shares during the period. Sunburst Financial Group LLC increased its position in JPMorgan Chase & Co. by 5.0% during the second quarter. Sunburst Financial Group LLC now owns 5,651 shares of the financial services provider’s stock worth $1,143,000 after buying an additional 268 shares during the last quarter. Sageworth Trust Co raised its stake in JPMorgan Chase & Co. by 37.9% in the third quarter. Sageworth Trust Co now owns 2,860 shares of the financial services provider’s stock valued at $603,000 after buying an additional 786 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of JPMorgan Chase & Co. by 16.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 692,809 shares of the financial services provider’s stock valued at $143,594,000 after buying an additional 95,461 shares during the last quarter. Finally, Czech National Bank boosted its stake in shares of JPMorgan Chase & Co. by 7.6% during the 2nd quarter. Czech National Bank now owns 547,224 shares of the financial services provider’s stock worth $110,682,000 after acquiring an additional 38,548 shares during the period. 71.55% of the stock is owned by institutional investors.

About JPMorgan Chase & Co.

JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit, investment and lending products, cash management, and payments and services; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.