JPMorgan Chase & Co. (NYSE:JPM) Hits New 1-Year High on Analyst Upgrade

JPMorgan Chase & Co. (NYSE:JPM) shares hit a new 52-week high during trading on Wednesday after Oppenheimer raised their price target on the stock from $232.00 to $241.00. Oppenheimer currently has an outperform rating on the stock. JPMorgan Chase & Co. traded as high as $242.30 and last traded at $241.73, with a volume of 1648536 shares trading hands. The stock had previously closed at $221.49.

JPM has been the subject of several other reports. Royal Bank of Canada boosted their target price on shares of JPMorgan Chase & Co. from $211.00 to $230.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Evercore ISI raised their target price on shares of JPMorgan Chase & Co. from $217.00 to $230.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Citigroup upped their price target on shares of JPMorgan Chase & Co. from $205.00 to $215.00 and gave the company a “neutral” rating in a report on Monday, July 15th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $235.00 price objective on shares of JPMorgan Chase & Co. in a research note on Tuesday, September 3rd. Finally, Barclays lifted their price objective on JPMorgan Chase & Co. from $217.00 to $257.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Eight analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $223.38.

Hedge Funds Weigh In On JPMorgan Chase & Co.

A number of large investors have recently modified their holdings of JPM. BCGM Wealth Management LLC raised its holdings in JPMorgan Chase & Co. by 2.8% in the 1st quarter. BCGM Wealth Management LLC now owns 19,061 shares of the financial services provider’s stock valued at $3,818,000 after acquiring an additional 516 shares during the period. Accredited Investors Inc. raised its holdings in JPMorgan Chase & Co. by 4.9% in the 2nd quarter. Accredited Investors Inc. now owns 14,174 shares of the financial services provider’s stock valued at $2,867,000 after acquiring an additional 667 shares during the period. Bleakley Financial Group LLC increased its holdings in shares of JPMorgan Chase & Co. by 1.4% during the first quarter. Bleakley Financial Group LLC now owns 87,063 shares of the financial services provider’s stock worth $17,439,000 after purchasing an additional 1,173 shares during the period. Sunburst Financial Group LLC increased its holdings in shares of JPMorgan Chase & Co. by 5.0% during the second quarter. Sunburst Financial Group LLC now owns 5,651 shares of the financial services provider’s stock worth $1,143,000 after purchasing an additional 268 shares during the period. Finally, Sageworth Trust Co increased its holdings in shares of JPMorgan Chase & Co. by 37.9% during the third quarter. Sageworth Trust Co now owns 2,860 shares of the financial services provider’s stock worth $603,000 after purchasing an additional 786 shares during the period. 71.55% of the stock is currently owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Price Performance

The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.27. The firm has a market cap of $674.39 billion, a price-to-earnings ratio of 12.33, a price-to-earnings-growth ratio of 3.25 and a beta of 1.10. The company’s 50-day moving average is $216.19 and its 200-day moving average is $207.43.

JPMorgan Chase & Co. (NYSE:JPM) last issued its earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share for the quarter, beating analysts’ consensus estimates of $4.02 by $0.35. JPMorgan Chase & Co. had a net margin of 19.64% and a return on equity of 16.71%. The firm had revenue of $43.32 billion for the quarter, compared to analyst estimates of $41.43 billion. During the same quarter last year, the business posted $4.33 earnings per share. The company’s quarterly revenue was up 6.5% on a year-over-year basis. Equities research analysts predict that JPMorgan Chase & Co. will post 17.52 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, October 4th were paid a dividend of $1.25 per share. The ex-dividend date was Friday, October 4th. This represents a $5.00 annualized dividend and a dividend yield of 2.09%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 27.82%.

About JPMorgan Chase & Co.

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, investment and lending products, cash management, and payments and services; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.