JPMorgan Chase & Co. (NYSE:JPM) Hits New 12-Month High – Time to Buy?

JPMorgan Chase & Co. (NYSE:JPM)’s stock price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $272.67 and last traded at $272.45, with a volume of 313939 shares traded. The stock had previously closed at $270.43.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Oppenheimer cut shares of JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 20th. Citigroup lifted their target price on shares of JPMorgan Chase & Co. from $215.00 to $250.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th. Barclays increased their price objective on JPMorgan Chase & Co. from $304.00 to $330.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Evercore ISI increased their price objective on JPMorgan Chase & Co. from $217.00 to $230.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Finally, Baird R W cut shares of JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a report on Thursday, November 7th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the company. According to MarketBeat, JPMorgan Chase & Co. presently has an average rating of “Hold” and an average price target of $251.78.

JPMorgan Chase & Co. Price Performance

The stock’s 50 day simple moving average is $249.57 and its 200-day simple moving average is $229.92. The firm has a market cap of $776.57 billion, a price-to-earnings ratio of 13.97, a price-to-earnings-growth ratio of 2.87 and a beta of 1.12. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.89 and a current ratio of 0.88.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.03 by $0.78. The firm had revenue of $42.77 billion for the quarter, compared to the consensus estimate of $41.90 billion. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. The firm’s revenue was up 10.9% on a year-over-year basis. During the same period in the prior year, the firm earned $3.04 EPS. Equities research analysts anticipate that JPMorgan Chase & Co. will post 17.82 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Monday, January 6th were issued a $1.25 dividend. The ex-dividend date of this dividend was Monday, January 6th. This represents a $5.00 annualized dividend and a yield of 1.81%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 25.33%.

Insider Activity

In other news, General Counsel Stacey Friedman sold 3,303 shares of the business’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $253.94, for a total value of $838,763.82. Following the completion of the transaction, the general counsel now owns 47,620 shares of the company’s stock, valued at $12,092,622.80. The trade was a 6.49 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.79% of the company’s stock.

Hedge Funds Weigh In On JPMorgan Chase & Co.

Several large investors have recently made changes to their positions in JPM. Mizuho Securities Co. Ltd. acquired a new stake in JPMorgan Chase & Co. in the third quarter valued at approximately $25,000. Catalyst Capital Advisors LLC acquired a new stake in shares of JPMorgan Chase & Co. in the third quarter valued at about $27,000. New England Capital Financial Advisors LLC raised its position in shares of JPMorgan Chase & Co. by 38.5% during the 3rd quarter. New England Capital Financial Advisors LLC now owns 180 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 50 shares during the last quarter. Midwest Capital Advisors LLC purchased a new position in JPMorgan Chase & Co. in the 4th quarter valued at about $43,000. Finally, Collier Financial acquired a new stake in JPMorgan Chase & Co. in the 4th quarter worth about $45,000. 71.55% of the stock is currently owned by institutional investors and hedge funds.

About JPMorgan Chase & Co.

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. The firm offers a range of investment banking products and services in all capital markets, including advising on corporate strategy and structure, capital raising in equity and debt markets, risk management, market making in cash securities and derivative instruments, and brokerage and research.