JPMorgan Chase & Co. (NYSE:JPM) Given New $295.00 Price Target at Piper Sandler

JPMorgan Chase & Co. (NYSE:JPM) had its price target boosted by Piper Sandler from $260.00 to $295.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has an overweight rating on the financial services provider’s stock.

Several other analysts have also recently weighed in on JPM. Robert W. Baird upped their price objective on shares of JPMorgan Chase & Co. from $220.00 to $235.00 and gave the stock a “neutral” rating in a research note on Tuesday. Truist Financial set a $261.00 price target on JPMorgan Chase & Co. in a research report on Monday, April 14th. Royal Bank of Canada raised their price target on JPMorgan Chase & Co. from $255.00 to $285.00 and gave the company an “outperform” rating in a report on Tuesday. Bank of America cut their price objective on JPMorgan Chase & Co. from $285.00 to $284.00 and set a “buy” rating for the company in a research report on Wednesday, April 2nd. Finally, Cowen started coverage on JPMorgan Chase & Co. in a report on Wednesday, May 14th. They set a “buy” rating on the stock. Eleven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, JPMorgan Chase & Co. has an average rating of “Moderate Buy” and a consensus price target of $266.20.

JPMorgan Chase & Co. Stock Performance

Shares of NYSE JPM opened at $265.55 on Tuesday. The firm has a market capitalization of $737.99 billion, a price-to-earnings ratio of 13.45, a PEG ratio of 2.83 and a beta of 1.07. JPMorgan Chase & Co. has a one year low of $190.88 and a one year high of $280.25. The business has a fifty day simple moving average of $242.28 and a 200 day simple moving average of $247.67. The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.24.

JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results on Friday, April 11th. The financial services provider reported $5.07 earnings per share for the quarter, topping the consensus estimate of $4.63 by $0.44. The business had revenue of $45.30 billion for the quarter, compared to analyst estimates of $43.62 billion. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The firm’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.44 EPS. Sell-side analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, July 3rd will be given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 2.11%. The ex-dividend date is Thursday, July 3rd. JPMorgan Chase & Co.’s dividend payout ratio is 27.49%.

Insider Activity at JPMorgan Chase & Co.

In other news, CEO Troy L. Rohrbaugh sold 37,500 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $269.84, for a total transaction of $10,119,000.00. Following the completion of the transaction, the chief executive officer now directly owns 158,381 shares in the company, valued at approximately $42,737,529.04. The trade was a 19.14% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Jeremy Barnum sold 40,014 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $250.77, for a total transaction of $10,034,310.78. Following the transaction, the chief financial officer now directly owns 18,017 shares in the company, valued at $4,518,123.09. The trade was a 68.95% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 138,617 shares of company stock worth $35,600,742 over the last ninety days. Company insiders own 0.47% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC raised its holdings in shares of JPMorgan Chase & Co. by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 59,220,603 shares of the financial services provider’s stock worth $14,161,171,000 after acquiring an additional 876,417 shares during the period. Norges Bank acquired a new stake in shares of JPMorgan Chase & Co. in the 4th quarter valued at about $8,310,884,000. Northern Trust Corp lifted its holdings in shares of JPMorgan Chase & Co. by 15.4% in the fourth quarter. Northern Trust Corp now owns 33,845,676 shares of the financial services provider’s stock valued at $8,113,147,000 after purchasing an additional 4,515,147 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of JPMorgan Chase & Co. by 1.9% during the first quarter. Bank of New York Mellon Corp now owns 24,801,153 shares of the financial services provider’s stock worth $6,083,723,000 after buying an additional 454,226 shares during the period. Finally, GAMMA Investing LLC boosted its position in shares of JPMorgan Chase & Co. by 25,861.9% during the first quarter. GAMMA Investing LLC now owns 23,556,011 shares of the financial services provider’s stock worth $5,778,289,000 after buying an additional 23,465,278 shares during the period. 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.