JPMorgan Chase & Co. (NYSE:JPM) Shares Up 1.8% – Here’s Why

JPMorgan Chase & Co. (NYSE:JPM)’s stock price was up 1.8% during mid-day trading on Friday . The stock traded as high as $313.72 and last traded at $313.26. Approximately 4,322,362 shares were traded during mid-day trading, a decline of 54% from the average daily volume of 9,333,941 shares. The stock had previously closed at $307.64.

Wall Street Analyst Weigh In

A number of research firms have weighed in on JPM. The Goldman Sachs Group reaffirmed a “buy” rating and set a $366.00 price objective on shares of JPMorgan Chase & Co. in a report on Tuesday, October 14th. KGI Securities upped their price target on JPMorgan Chase & Co. from $300.00 to $315.00 and gave the company a “hold” rating in a research report on Wednesday, October 15th. Evercore ISI lifted their price objective on JPMorgan Chase & Co. from $309.00 to $330.00 and gave the company an “outperform” rating in a report on Tuesday, September 30th. Royal Bank Of Canada restated a “buy” rating and issued a $343.00 target price on shares of JPMorgan Chase & Co. in a research note on Tuesday, October 14th. Finally, DZ Bank reiterated a “neutral” rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, October 15th. Fifteen equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $326.38.

JPMorgan Chase & Co. Price Performance

The stock’s 50-day moving average price is $306.91 and its 200-day moving average price is $292.67. The company has a market capitalization of $852.78 billion, a price-to-earnings ratio of 15.52, a price-to-earnings-growth ratio of 1.84 and a beta of 1.14. The company has a quick ratio of 0.88, a current ratio of 0.86 and a debt-to-equity ratio of 1.26.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share for the quarter, beating analysts’ consensus estimates of $4.83 by $0.24. The business had revenue of $47.12 billion during the quarter, compared to analyst estimates of $44.42 billion. JPMorgan Chase & Co. had a net margin of 20.90% and a return on equity of 17.18%. JPMorgan Chase & Co.’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter last year, the business posted $4.37 earnings per share. Equities research analysts anticipate that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 31st. Shareholders of record on Monday, October 6th were issued a dividend of $1.50 per share. The ex-dividend date of this dividend was Monday, October 6th. This represents a $6.00 annualized dividend and a yield of 1.9%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 29.72%.

Insider Transactions at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $297.94, for a total value of $2,830,430.00. Following the transaction, the director directly owned 82,207 shares of the company’s stock, valued at approximately $24,492,753.58. This trade represents a 10.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Robin Leopold sold 966 shares of JPMorgan Chase & Co. stock in a transaction on Friday, November 7th. The stock was sold at an average price of $311.92, for a total transaction of $301,314.72. Following the sale, the insider directly owned 58,479 shares of the company’s stock, valued at $18,240,769.68. This represents a 1.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.47% of the company’s stock.

Institutional Investors Weigh In On JPMorgan Chase & Co.

A number of institutional investors have recently made changes to their positions in JPM. Harbor Asset Planning Inc. bought a new stake in JPMorgan Chase & Co. in the second quarter valued at approximately $26,000. Mountain Hill Investment Partners Corp. bought a new stake in shares of JPMorgan Chase & Co. in the 3rd quarter valued at $32,000. Family Legacy Financial Solutions LLC increased its position in shares of JPMorgan Chase & Co. by 92.6% in the 3rd quarter. Family Legacy Financial Solutions LLC now owns 104 shares of the financial services provider’s stock valued at $33,000 after buying an additional 50 shares in the last quarter. Mizuho Securities Co. Ltd. raised its stake in JPMorgan Chase & Co. by 450.0% during the 2nd quarter. Mizuho Securities Co. Ltd. now owns 110 shares of the financial services provider’s stock worth $32,000 after buying an additional 90 shares during the period. Finally, Turning Point Benefit Group Inc. bought a new position in JPMorgan Chase & Co. during the third quarter worth about $35,000. 71.55% of the stock is 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. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.