DA Davidson Equities Analysts Decrease Earnings Estimates for JPMorgan Chase & Co. (NYSE:JPM)
JPMorgan Chase & Co. (NYSE:JPM) – Research analysts at DA Davidson lowered their FY2021 earnings estimates for shares of JPMorgan Chase & Co. in a research report issued to clients and investors on Friday, July 10th. DA Davidson analyst D. Konrad now expects that the financial services provider will earn $8.65 per share for the year, down from their previous forecast of $8.95. DA Davidson currently has a “Buy” rating and a $117.00 target price on the stock.
JPM has been the topic of a number of other reports. Societe Generale raised JPMorgan Chase & Co. from a “sell” rating to a “buy” rating in a report on Tuesday, April 14th. TheStreet lowered shares of JPMorgan Chase & Co. from a “b-” rating to a “c” rating in a research report on Monday, May 11th. Wolfe Research raised JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $113.00 price target on the stock in a research report on Thursday, July 9th. Odeon Capital Group upgraded JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and set a $105.75 target price for the company in a research note on Wednesday, May 20th. Finally, Oppenheimer reaffirmed a “hold” rating on shares of JPMorgan Chase & Co. in a research report on Friday, July 3rd. Ten equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $111.99.
JPMorgan Chase & Co. (NYSE:JPM) last issued its earnings results on Tuesday, April 14th. The financial services provider reported $0.78 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.70 by ($1.92). The business had revenue of $28.25 billion for the quarter, compared to analyst estimates of $29.45 billion. JPMorgan Chase & Co. had a return on equity of 12.52% and a net margin of 21.61%. The firm’s revenue for the quarter was down 3.0% on a year-over-year basis. During the same period last year, the company posted $2.65 earnings per share.
Institutional investors and hedge funds have recently made changes to their positions in the company. FSA Wealth Management LLC acquired a new position in JPMorgan Chase & Co. in the fourth quarter worth $299,000. CA Family Wealth LLC acquired a new stake in shares of JPMorgan Chase & Co. in the fourth quarter valued at $761,000. Capital International Investors raised its holdings in shares of JPMorgan Chase & Co. by 3.9% in the fourth quarter. Capital International Investors now owns 27,366,319 shares of the financial services provider’s stock valued at $3,814,863,000 after buying an additional 1,029,205 shares during the last quarter. Hoey Investments Inc. raised its holdings in shares of JPMorgan Chase & Co. by 187.7% in the second quarter. Hoey Investments Inc. now owns 49,684 shares of the financial services provider’s stock valued at $4,673,000 after buying an additional 32,417 shares during the last quarter. Finally, Colonial Trust Advisors lifted its position in JPMorgan Chase & Co. by 2.8% during the 1st quarter. Colonial Trust Advisors now owns 102,938 shares of the financial services provider’s stock worth $9,267,000 after buying an additional 2,795 shares in the last quarter. 71.35% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director Stephen B. Burke acquired 75,000 shares of the firm’s stock in a transaction on Thursday, April 16th. The shares were purchased at an average cost of $87.99 per share, with a total value of $6,599,250.00. Following the completion of the purchase, the director now owns 150,043 shares of the company’s stock, valued at $13,202,283.57. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Ashley Bacon sold 13,027 shares of the firm’s stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $91.12, for a total transaction of $1,187,020.24. Following the sale, the insider now directly owns 137,243 shares of the company’s stock, valued at approximately $12,505,582.16. The disclosure for this sale can be found here. Corporate insiders own 0.78% of the company’s stock.
The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Monday, July 6th will be given a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 3.69%. The ex-dividend date of this dividend is Thursday, July 2nd. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 34.35%.
JPMorgan Chase & Co. Company Profile
JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit and investment products and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit card, payment processing, auto loan, and leasing services.
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