JPMorgan Chase & Co. (NYSE:JPM) Trading 0.1% Higher on Analyst Upgrade

JPMorgan Chase & Co. (NYSE:JPM) shares were up 0.1% during trading on Tuesday after Piper Sandler raised their price target on the stock from $240.00 to $275.00. Piper Sandler currently has an overweight rating on the stock. JPMorgan Chase & Co. traded as high as $249.04 and last traded at $246.48. Approximately 1,755,900 shares were traded during trading, a decline of 81% from the average daily volume of 9,022,476 shares. The stock had previously closed at $246.25.

Several other equities research analysts have also recently commented on the company. Citigroup raised their target price 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. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $235.00 price objective on shares of JPMorgan Chase & Co. in a research report on Tuesday, September 3rd. Oppenheimer downgraded shares of JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 20th. Robert W. Baird lowered shares of JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 price objective on the stock. in a report on Thursday, November 7th. Finally, 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. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $234.81.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Inspire Trust Co. N.A. boosted its position in JPMorgan Chase & Co. by 12.8% in the third quarter. Inspire Trust Co. N.A. now owns 19,309 shares of the financial services provider’s stock worth $4,071,000 after purchasing an additional 2,192 shares during the last quarter. Old North State Trust LLC raised its stake in shares of JPMorgan Chase & Co. by 3.0% during the 3rd quarter. Old North State Trust LLC now owns 4,017 shares of the financial services provider’s stock worth $847,000 after purchasing an additional 117 shares during the period. Franklin Resources Inc. boosted its holdings in shares of JPMorgan Chase & Co. by 7.2% in the 3rd quarter. Franklin Resources Inc. now owns 15,073,193 shares of the financial services provider’s stock worth $3,338,955,000 after buying an additional 1,016,289 shares during the last quarter. Wilmington Savings Fund Society FSB grew its position in JPMorgan Chase & Co. by 57.8% during the third quarter. Wilmington Savings Fund Society FSB now owns 363,152 shares of the financial services provider’s stock valued at $76,574,000 after buying an additional 132,987 shares during the period. Finally, Arvest Bank Trust Division purchased a new stake in JPMorgan Chase & Co. during the third quarter worth about $26,433,000. 71.55% of the stock is owned by institutional investors.

JPMorgan Chase & Co. Trading Down 0.0 %

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 $693.19 billion, a P/E ratio of 13.72, a price-to-earnings-growth ratio of 3.62 and a beta of 1.11. The firm’s 50-day simple moving average is $227.21 and its 200 day simple moving average is $213.78.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data on Friday, October 11th. The financial services provider reported $4.37 EPS for the quarter, beating the consensus estimate of $4.02 by $0.35. JPMorgan Chase & Co. had a return on equity of 16.71% and a net margin of 19.64%. The business had revenue of $43.32 billion for the quarter, compared to the consensus estimate of $41.43 billion. During the same quarter in the prior year, the business earned $4.33 earnings per share. JPMorgan Chase & Co.’s revenue for the quarter was up 6.5% on a year-over-year basis. 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 declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, October 4th were paid a dividend of $1.25 per share. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date was Friday, October 4th. This represents a $5.00 annualized dividend and a dividend yield of 2.03%. JPMorgan Chase & Co.’s dividend payout ratio is presently 27.82%.

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.