JPMorgan Chase & Co. (NYSE:JPM) Trading Up 1.5% – Time to Buy?

JPMorgan Chase & Co. (NYSE:JPM) shares were up 1.5% on Thursday . The company traded as high as $314.10 and last traded at $313.78. Approximately 8,830,742 shares traded hands during mid-day trading, a decline of 16% from the average daily volume of 10,527,622 shares. The stock had previously closed at $309.25.

Key JPMorgan Chase & Co. News

Here are the key news stories impacting JPMorgan Chase & Co. this week:

Analysts Set New Price Targets

A number of research analysts have weighed in on JPM shares. HSBC cut their price target on shares of JPMorgan Chase & Co. from $319.00 to $288.00 and set a “hold” rating on the stock in a research note on Wednesday, April 1st. Wolfe Research lowered shares of JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 7th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $330.00 price target on shares of JPMorgan Chase & Co. in a research note on Wednesday, January 14th. Argus boosted their price objective on shares of JPMorgan Chase & Co. from $340.00 to $355.00 and gave the stock a “buy” rating in a research report on Wednesday, April 15th. Finally, TD Cowen reissued a “buy” rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, January 7th. Fifteen analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $336.16.

Get Our Latest Stock Analysis on JPMorgan Chase & Co.

JPMorgan Chase & Co. Trading Down 0.1%

The firm has a market cap of $839.25 billion, a P/E ratio of 14.99, a P/E/G ratio of 1.53 and a beta of 1.03. The business’s 50-day moving average is $299.19 and its two-hundred day moving average is $307.03. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.86 and a quick ratio of 0.85.

JPMorgan Chase & Co. (NYSE:JPMGet Free Report) last released its earnings results on Tuesday, April 14th. The financial services provider reported $5.94 earnings per share for the quarter, beating analysts’ consensus estimates of $5.50 by $0.44. The business had revenue of $50.54 billion during the quarter, compared to the consensus estimate of $48.30 billion. JPMorgan Chase & Co. had a net margin of 20.66% and a return on equity of 17.54%. The firm’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same quarter last year, the firm earned $5.07 earnings per share. As a group, analysts predict that JPMorgan Chase & Co. will post 22.42 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 30th. Shareholders of record on Monday, April 6th were given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Monday, April 6th. JPMorgan Chase & Co.’s dividend payout ratio is 28.74%.

Insider Activity

In other JPMorgan Chase & Co. news, COO Jennifer Piepszak sold 9,136 shares of the company’s stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $306.56, for a total transaction of $2,800,732.16. Following the sale, the chief operating officer directly owned 90,001 shares of the company’s stock, valued at approximately $27,590,706.56. This represents a 9.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Troy L. Rohrbaugh sold 50,000 shares of the company’s stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $307.11, for a total transaction of $15,355,500.00. Following the sale, the chief executive officer directly owned 111,279 shares in the company, valued at $34,174,893.69. This trade represents a 31.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 71,908 shares of company stock valued at $22,065,882. 0.41% of the stock is owned by corporate insiders.

Institutional Trading of JPMorgan Chase & Co.

Several institutional investors and hedge funds have recently added to or reduced their stakes in JPM. Norges Bank bought a new stake in JPMorgan Chase & Co. during the fourth quarter worth $11,396,496,000. Cardano Risk Management B.V. raised 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 valued at $2,794,785,000 after purchasing an additional 7,796,814 shares during the period. Danske Bank A S bought a new position in shares of JPMorgan Chase & Co. in the third quarter valued at about $696,885,000. American Assets Investment Management LLC raised its position in shares of JPMorgan Chase & Co. by 1,172.2% in the fourth quarter. American Assets Investment Management LLC now owns 2,259,400 shares of the financial services provider’s stock valued at $728,024,000 after purchasing an additional 2,081,800 shares during the period. Finally, Holocene Advisors LP raised its position in shares of JPMorgan Chase & Co. by 1,033.3% in the third quarter. Holocene Advisors LP now owns 2,155,120 shares of the financial services provider’s stock valued at $679,790,000 after purchasing an additional 1,964,958 shares during the period. 71.55% of the stock is owned by institutional investors.

About JPMorgan Chase & Co.

(Get Free Report)

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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