JPMorgan Chase & Co. (NYSE:JPM) Shares Up 0.5% – Here’s What Happened

Shares of JPMorgan Chase & Co. (NYSE:JPM) traded up 0.5% on Monday . The company traded as high as $254.31 and last traded at $249.78. 1,881,070 shares were traded during mid-day trading, a decline of 79% from the average session volume of 9,061,658 shares. The stock had previously closed at $248.55.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on JPM shares. Daiwa Capital Markets cut their price target on JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating on the stock in a report on Thursday, October 10th. Wells Fargo & Company lifted their price target on shares of JPMorgan Chase & Co. from $240.00 to $270.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Barclays raised their target price on JPMorgan Chase & Co. from $217.00 to $257.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Citigroup upped their price target on JPMorgan Chase & Co. from $215.00 to $250.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. Finally, Oppenheimer cut JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 20th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, JPMorgan Chase & Co. currently has an average rating of “Hold” and a consensus target price of $229.31.

JPMorgan Chase & Co. Trading Down 0.1 %

The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.27. The firm has a market cap of $703.13 billion, a P/E ratio of 13.90, a price-to-earnings-growth ratio of 3.63 and a beta of 1.10. The firm’s 50-day simple moving average is $225.64 and its 200 day simple moving average is $213.00.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly 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. JPMorgan Chase & Co. had a net margin of 19.64% and a return on equity of 16.71%. The company had revenue of $43.32 billion during the quarter, compared to analyst estimates of $41.43 billion. During the same quarter last year, the business posted $4.33 EPS. JPMorgan Chase & Co.’s quarterly revenue was up 6.5% compared to the same quarter last year. As a group, analysts expect that JPMorgan Chase & Co. will post 17.62 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders 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 positive change 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 payout ratio is presently 27.82%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in JPM. WFA Asset Management Corp raised its holdings in JPMorgan Chase & Co. by 51.2% during the 1st quarter. WFA Asset Management Corp now owns 1,216 shares of the financial services provider’s stock valued at $244,000 after acquiring an additional 412 shares during the period. China Universal Asset Management Co. Ltd. bought a new stake in shares of JPMorgan Chase & Co. during the 1st quarter valued at $1,185,000. Jacobs Levy Equity Management Inc. lifted its holdings in JPMorgan Chase & Co. by 32.7% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 6,374 shares of the financial services provider’s stock worth $1,277,000 after purchasing an additional 1,569 shares in the last quarter. Innova Wealth Partners bought a new position in JPMorgan Chase & Co. in the 1st quarter worth about $212,000. Finally, Meiji Yasuda Life Insurance Co grew its holdings in JPMorgan Chase & Co. by 11.1% during the 1st quarter. Meiji Yasuda Life Insurance Co now owns 137,702 shares of the financial services provider’s stock valued at $27,582,000 after buying an additional 13,799 shares in the last quarter. Institutional investors own 71.55% of the company’s stock.

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.