JPMorgan Chase & Co. (NYSE:JPM) Trading Up 2% – What’s Next?

JPMorgan Chase & Co. (NYSE:JPM)’s share price traded up 2% during trading on Wednesday . The company traded as high as $335.64 and last traded at $333.9730. 15,122,517 shares changed hands during trading, an increase of 49% from the average daily volume of 10,124,813 shares. The stock had previously closed at $327.33.

Trending Headlines about JPMorgan Chase & Co.

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

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on JPM. HSBC lifted their price target on JPMorgan Chase & Co. from $288.00 to $312.00 and gave the stock a “hold” rating in a research note on Monday, May 4th. Autonomous Res reduced their price objective on JPMorgan Chase & Co. from $360.00 to $324.00 and set a “neutral” rating for the company in a research note on Monday, April 6th. Robert W. Baird set a $295.00 price objective on JPMorgan Chase & Co. in a report on Wednesday, April 15th. Piper Sandler lifted their target price on shares of JPMorgan Chase & Co. from $325.00 to $345.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 15th. Finally, Jefferies Financial Group reaffirmed a “neutral” rating on shares of JPMorgan Chase & Co. in a research note on Thursday, June 25th. Fourteen research analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the stock. Based on data from MarketBeat.com, JPMorgan Chase & Co. has an average rating of “Hold” and a consensus price target of $340.88.

Get Our Latest Report on JPM

JPMorgan Chase & Co. Trading Down 0.2%

The firm has a market capitalization of $894.72 billion, a price-to-earnings ratio of 15.99, a PEG ratio of 1.53 and a beta of 0.99. The company has a fifty day moving average price of $312.93 and a two-hundred day moving average price of $308.93. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 1.30.

JPMorgan Chase & Co. (NYSE:JPMGet Free Report) last posted its quarterly earnings results on Tuesday, April 14th. The financial services provider reported $5.94 EPS for the quarter, beating the consensus estimate of $5.50 by $0.44. JPMorgan Chase & Co. had a return on equity of 17.54% and a net margin of 20.66%.The firm had revenue of $50.54 billion during the quarter, compared to analysts’ expectations of $48.30 billion. During the same quarter last year, the firm earned $5.07 earnings per share. The business’s revenue for the quarter was up 10.0% on a year-over-year basis. As a group, research analysts forecast that JPMorgan Chase & Co. will post 22.76 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

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

Insider Transactions at JPMorgan Chase & Co.

In related news, CFO Jeremy Barnum sold 5,611 shares of the company’s stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $306.55, for a total value of $1,720,052.05. Following the completion of the sale, the chief financial officer owned 35,460 shares of the company’s stock, valued at approximately $10,870,263. This represents a 13.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jennifer Piepszak sold 9,136 shares of the firm’s stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $306.56, for a total transaction of $2,800,732.16. Following the sale, the chief operating officer owned 90,001 shares of the company’s stock, valued at approximately $27,590,706.56. The trade was a 9.22% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 33,623 shares of company stock worth $10,427,835 in the last quarter. Company insiders own 0.41% of the company’s stock.

Hedge Funds Weigh In On JPMorgan Chase & Co.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Timmons Wealth Management LLC purchased a new stake in JPMorgan Chase & Co. in the fourth quarter valued at $27,000. MBM Wealth Consultants LLC purchased a new position in shares of JPMorgan Chase & Co. during the 1st quarter worth $29,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth $32,000. Osbon Capital Management LLC acquired a new stake in shares of JPMorgan Chase & Co. during the 4th quarter worth about $35,000. Finally, Turning Point Benefit Group Inc. acquired a new stake in shares of JPMorgan Chase & Co. during the 3rd quarter worth about $35,000. 71.55% of the stock is currently owned by institutional investors and hedge funds.

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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