Brokerages Set JPMorgan Chase & Co. (NYSE:JPM) Price Target at $339.08

JPMorgan Chase & Co. (NYSE:JPM) has received a consensus recommendation of “Hold” from the twenty-nine research firms that are presently covering the stock, Marketbeat Ratings reports. Fifteen investment analysts have rated the stock with a hold recommendation and fourteen have assigned a buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $339.5833.

Several research analysts recently commented on JPM shares. HSBC increased their target price on shares of JPMorgan Chase & Co. from $288.00 to $312.00 and gave the stock a “hold” rating in a report on Monday, May 4th. Jefferies Financial Group restated a “neutral” rating on shares of JPMorgan Chase & Co. in a report on Thursday. Zacks Research cut shares of JPMorgan Chase & Co. from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 8th. The Goldman Sachs Group set a $361.00 target price on shares of JPMorgan Chase & Co. in a report on Tuesday, April 14th. Finally, Dbs Bank upgraded shares of JPMorgan Chase & Co. to a “hold” rating in a report on Tuesday, May 12th.

JPMorgan Chase & Co. Stock Down 0.1%

Shares of NYSE:JPM opened at $328.73 on Wednesday. The company has a 50 day moving average price of $311.44 and a two-hundred day moving average price of $308.38. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.86 and a current ratio of 0.86. JPMorgan Chase & Co. has a 52 week low of $279.10 and a 52 week high of $343.45. The company has a market capitalization of $880.83 billion, a PE ratio of 15.74, a PEG ratio of 1.53 and a beta of 1.00.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings data on Tuesday, April 14th. The financial services provider reported $5.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.50 by $0.44. JPMorgan Chase & Co. had a net margin of 20.66% and a return on equity of 17.54%. The company had revenue of $50.54 billion during the quarter, compared to the consensus estimate of $48.30 billion. During the same quarter in the prior year, the firm earned $5.07 earnings per share. The firm’s revenue was up 10.0% compared to the same quarter last year. Analysts forecast that JPMorgan Chase & Co. will post 22.43 earnings per share for the current year.

JPMorgan Chase & Co. Dividend Announcement

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

Key JPMorgan Chase & Co. News

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

• Positive Sentiment: JPMorgan cleared the Federal Reserve’s annual stress test, reinforcing that the bank is well capitalized and can withstand a severe downturn. That result supports higher payouts and helps confirm the firm’s balance-sheet strength. Article Title
• Positive Sentiment: The board approved a 10% dividend increase and a new $50 billion share buyback, which is a strong signal of confidence in earnings power and capital generation. Article Title
• Positive Sentiment: The stock recently hit an all-time high as investors reacted favorably to the dividend boost, buyback authorization, and ongoing confidence in JPMorgan’s earnings and capital return profile. Article Title

Insider Buying and Selling at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, CFO Jeremy Barnum sold 3,022 shares of the stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $309.41, for a total value of $935,037.02. Following the completion of the sale, the chief financial officer owned 32,438 shares in the company, valued at $10,036,641.58. This trade represents a 8.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jennifer Piepszak sold 4,919 shares of the stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $309.42, for a total transaction of $1,522,036.98. Following the completion of the sale, the chief operating officer owned 85,082 shares of the company’s stock, valued at approximately $26,326,072.44. This represents a 5.47% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 33,623 shares of company stock worth $10,427,835 over the last quarter. 0.41% of the stock is currently owned by insiders.

Institutional Trading of JPMorgan Chase & Co.

A number of large investors have recently added to or reduced their stakes in the company. Redwood Investment Management LLC lifted its stake in JPMorgan Chase & Co. by 32.7% in the first quarter. Redwood Investment Management LLC now owns 8,897 shares of the financial services provider’s stock valued at $2,617,000 after acquiring an additional 2,194 shares during the last quarter. Ballast Advisors LLC lifted its stake in JPMorgan Chase & Co. by 0.3% in the first quarter. Ballast Advisors LLC now owns 40,967 shares of the financial services provider’s stock valued at $12,051,000 after acquiring an additional 127 shares during the last quarter. MTM Financial Group LLC lifted its stake in JPMorgan Chase & Co. by 5.8% in the first quarter. MTM Financial Group LLC now owns 1,224 shares of the financial services provider’s stock valued at $360,000 after acquiring an additional 67 shares during the last quarter. Western Wealth Management LLC lifted its stake in JPMorgan Chase & Co. by 49.1% in the first quarter. Western Wealth Management LLC now owns 63,689 shares of the financial services provider’s stock valued at $18,735,000 after acquiring an additional 20,961 shares during the last quarter. Finally, Steelhead Wealth Management LLC acquired a new stake in JPMorgan Chase & Co. in the first quarter valued at $226,000. Institutional investors and hedge funds own 71.55% of the company’s stock.

JPMorgan Chase & Co. Company Profile

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.