JPMorgan Chase & Co. (NYSE:JPM) Announces Earnings Results

JPMorgan Chase & Co. (NYSE:JPM) posted its quarterly earnings data on Tuesday. The financial services provider reported $6.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.59 by $0.55, FiscalAI reports. JPMorgan Chase & Co. had a return on equity of 17.54% and a net margin of 20.66%.The company had revenue of $58.02 billion for the quarter, compared to the consensus estimate of $51.09 billion.

JPMorgan Chase & Co. Stock Down 0.4%

JPMorgan Chase & Co. stock opened at $335.19 on Tuesday. The stock has a market cap of $898.14 billion, a price-to-earnings ratio of 16.05, a PEG ratio of 1.53 and a beta of 0.99. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 1.30. The company’s 50-day moving average price is $316.28 and its two-hundred day moving average price is $309.76. JPMorgan Chase & Co. has a 52 week low of $279.10 and a 52 week high of $343.45.

JPMorgan Chase & Co. Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Monday, July 6th will be given a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Monday, July 6th. JPMorgan Chase & Co.’s dividend payout ratio is currently 28.74%.

Insider Transactions at JPMorgan Chase & Co.

In other news, General Counsel Stacey Friedman sold 5,467 shares of the company’s stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $330.73, for a total value of $1,808,100.91. Following the completion of the sale, the general counsel owned 40,961 shares in the company, valued at $13,547,031.53. This represents a 11.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Jeremy Barnum sold 3,022 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $309.41, for a total transaction of $935,037.02. Following the transaction, the chief financial officer owned 32,438 shares of the company’s stock, valued at approximately $10,036,641.58. This trade represents a 8.52% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 33,623 shares of company stock valued at $10,427,835. Company insiders own 0.41% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Cardano Risk Management B.V. increased its position in shares of JPMorgan Chase & Co. by 889.3% in the fourth quarter. Cardano Risk Management B.V. now owns 8,673,530 shares of the financial services provider’s stock worth $2,794,785,000 after acquiring an additional 7,796,814 shares in the last quarter. Viking Global Investors LP increased its holdings in JPMorgan Chase & Co. by 86.1% in the 2nd quarter. Viking Global Investors LP now owns 4,042,034 shares of the financial services provider’s stock valued at $1,171,826,000 after purchasing an additional 1,870,386 shares in the last quarter. Amundi increased its holdings in JPMorgan Chase & Co. by 23.2% in the 4th quarter. Amundi now owns 6,750,953 shares of the financial services provider’s stock valued at $2,175,292,000 after purchasing an additional 1,269,323 shares in the last quarter. Bank of New York Mellon Corp raised its position in JPMorgan Chase & Co. by 5.4% in the fourth quarter. Bank of New York Mellon Corp now owns 23,424,482 shares of the financial services provider’s stock valued at $7,547,837,000 after purchasing an additional 1,194,583 shares during the period. Finally, Morgan Stanley raised its position in JPMorgan Chase & Co. by 1.4% in the fourth quarter. Morgan Stanley now owns 66,385,268 shares of the financial services provider’s stock valued at $21,390,662,000 after purchasing an additional 939,421 shares during the period. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on JPM. Robert W. Baird set a $295.00 target price on shares of JPMorgan Chase & Co. in a research report on Wednesday, April 15th. Evercore reissued an “outperform” rating and set a $360.00 price target on shares of JPMorgan Chase & Co. in a research report on Monday, July 6th. Barclays reiterated a “buy” rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, May 6th. Wells Fargo & Company raised their price target on shares of JPMorgan Chase & Co. from $350.00 to $360.00 and gave the stock an “overweight” rating in a research report on Monday, July 6th. Finally, Autonomous Res lowered their price objective on shares of JPMorgan Chase & Co. from $360.00 to $324.00 and set a “neutral” rating for the company in a research report on Monday, April 6th. Fourteen analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $345.33.

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JPMorgan Chase & Co. Company Profile

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JPMorgan Chase & Co (NYSE: JPM) is a diversified global financial services firm headquartered in New York City. The company provides a wide range of banking and financial products and services to consumers, small businesses, corporations, governments and institutional investors worldwide. Its operations span retail banking, commercial lending, investment banking, asset management, payments and card services, and treasury and securities services.

The firm’s principal business activities are organized across several core lines: Consumer & Community Banking, which offers deposit accounts, mortgages, auto loans, credit cards and branch and digital banking under the Chase brand; Corporate & Investment Banking, which provides capital markets, advisory, underwriting, trading and risk management services; Commercial Banking, delivering lending, treasury and capital solutions to middle-market and corporate clients; and Asset & Wealth Management, which offers investment management, private banking and retirement services to institutions and high-net-worth individuals.

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Earnings History for JPMorgan Chase & Co. (NYSE:JPM)

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