JPMorgan Chase & Co. (NYSE:JPM) Shares Up 1.1% After Dividend Announcement

JPMorgan Chase & Co. (NYSE:JPM) was up 1.1% during mid-day trading on Tuesday after the company announced a dividend. The company traded as high as $354.70 and last traded at $354.10. Approximately 13,017,804 shares changed hands during trading, an increase of 40% from the average session volume of 9,292,574 shares. The stock had previously closed at $350.13.

The newly announced dividend which will be paid on Saturday, October 31st. Investors of record on Tuesday, October 6th will be given a $1.65 dividend. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.50. The ex-dividend date is Tuesday, October 6th. This represents a $6.60 annualized dividend and a yield of 1.9%. JPMorgan Chase & Co.’s payout ratio is presently 25.71%.

Analyst Upgrades and Downgrades

JPM has been the subject of several analyst reports. Royal Bank Of Canada upped their price objective on JPMorgan Chase & Co. from $330.00 to $370.00 and gave the company an “outperform” rating in a research note on Wednesday, July 15th. Barclays upped their price target on JPMorgan Chase & Co. from $391.00 to $420.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 15th. Bank of America increased their price target on JPMorgan Chase & Co. from $408.00 to $420.00 and gave the stock a “buy” rating in a report on Thursday, July 16th. Jefferies Financial Group set a $350.00 price objective on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 14th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and set a $375.00 price objective for the company in a research report on Wednesday, July 22nd. Sixteen investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $359.96.

JPMorgan Chase & Co. Trading Up 0.2%

The firm has a market capitalization of $929.68 billion, a PE ratio of 14.98, a P/E/G ratio of 1.45 and a beta of 0.98. The business has a 50 day moving average price of $353.19 and a 200-day moving average price of $323.32. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.30.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results on Tuesday, July 14th. The financial services provider reported $6.14 EPS for the quarter, beating the consensus estimate of $5.59 by $0.55. JPMorgan Chase & Co. had a return on equity of 18.23% and a net margin of 21.86%.The business had revenue of $58.02 billion during the quarter, compared to analysts’ expectations of $50.72 billion. During the same period last year, the firm earned $4.96 EPS. The company’s quarterly revenue was up 27.7% compared to the same quarter last year. Analysts expect that JPMorgan Chase & Co. will post 24.3 earnings per share for the current year.

More JPMorgan Chase & Co. News

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

• Positive Sentiment: Investment banking and trading momentum: Management expects third-quarter investment-banking fees and Markets revenue to grow at a mid-to-high-teens rate. The outlook supports continued fee growth and helped drive the recent rally in JPM shares. Can JPM’s Strong Q3 Capital Markets Outlook Help Sustain Fee Growth?
• Positive Sentiment: Upbeat revenue expectations: JPMorgan executives said the U.S. economy shows no major systemic red flags and forecast strong third-quarter investment-banking fees and trading revenue. Management also described small businesses as being in a “mini boom,” potentially supporting loan demand and commercial-banking growth. JPMorgan Sees Nothing Flashing Red in U.S. Economy
• Positive Sentiment: Dividend increase: JPMorgan raised its quarterly common-stock dividend 10%, to $1.65 per share from $1.50, reinforcing the bank’s strong earnings and capital position while improving income potential for shareholders. JPM Stock Rises as JPMorgan’s New Dividend Signals More Cash for Investors
• Positive Sentiment: Higher rates may aid net interest income: Following the Federal Reserve’s first rate hike in three years, JPMorgan and other large banks raised prime lending rates. Higher loan yields could benefit net interest income, though deposit costs remain a consideration. U.S. Banks Raise Prime Interest Rates Following Fed Hike
• Neutral Sentiment: Strategic growth initiatives: Chase is allowing eligible cardholders to invest rewards points through J.P. Morgan Wealth Management accounts, potentially deepening customer relationships, while CEO Jamie Dimon highlighted efforts to expand government-backed small-business lending.
• Negative Sentiment: Macro and regulatory risks: Dimon warned that inflation has not been fully defeated, which could keep rates elevated and pressure funding costs and credit quality. JPMorgan also cautioned that agency-based crypto rules could be vulnerable in court after the Senate failed to pass the CLARITY Act. JPMorgan CEO Jamie Dimon Says High Inflation Hasn’t Been Slayed
• Negative Sentiment: Mixed analyst signals: Zacks Research downgraded JPM to “Hold,” and Goldman Sachs lowered its price target to $436 while retaining a “Buy” rating, potentially limiting near-term upside despite the favorable earnings outlook.

Insider Buying and Selling at JPMorgan Chase & Co.

In other news, insider Robin Leopold sold 2,500 shares of the company’s stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $352.81, for a total transaction of $882,025.00. Following the transaction, the insider directly owned 71,047 shares of the company’s stock, valued at $25,066,092.07. This represents a 3.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Stacey Friedman sold 5,467 shares of the stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $330.73, for a total transaction of $1,808,100.91. Following the completion of the transaction, the general counsel owned 40,961 shares of the company’s stock, valued at $13,547,031.53. This represents a 11.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 10,467 shares of company stock worth $3,593,651 over the last 90 days. Insiders own 0.41% of the company’s stock.

Institutional Investors Weigh In On JPMorgan Chase & Co.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Fidelis Capital Partners LLC raised its stake in JPMorgan Chase & Co. by 7.9% during the 4th quarter. Fidelis Capital Partners LLC now owns 70,077 shares of the financial services provider’s stock valued at $22,580,000 after purchasing an additional 5,101 shares during the period. E Fund Management Co. Ltd. boosted its position in shares of JPMorgan Chase & Co. by 7.1% in the second quarter. E Fund Management Co. Ltd. now owns 29,956 shares of the financial services provider’s stock worth $9,805,000 after buying an additional 1,973 shares during the period. Edmond DE Rothschild Holding S.A. grew its holdings in shares of JPMorgan Chase & Co. by 4.6% during the second quarter. Edmond DE Rothschild Holding S.A. now owns 343,644 shares of the financial services provider’s stock valued at $112,485,000 after buying an additional 15,017 shares in the last quarter. First National Bank of Mount Dora Trust Investment Services grew its holdings in shares of JPMorgan Chase & Co. by 18.7% during the first quarter. First National Bank of Mount Dora Trust Investment Services now owns 41,218 shares of the financial services provider’s stock valued at $12,125,000 after buying an additional 6,492 shares in the last quarter. Finally, FAS Wealth Partners Inc. raised its position in JPMorgan Chase & Co. by 4.3% during the first quarter. FAS Wealth Partners Inc. now owns 43,527 shares of the financial services provider’s stock valued at $12,804,000 after buying an additional 1,794 shares during the period. 71.55% of the stock is currently owned by institutional investors and hedge funds.

About JPMorgan Chase & Co.

JPMorgan Chase & Co is a global financial services company headquartered in New York City. Through its businesses, the company provides banking, lending, payments, investment banking, asset management and wealth management services to consumers, businesses, institutional clients and governments.

The company operates through four primary business areas: Consumer & Community Banking; Commercial & Investment Banking; Asset & Wealth Management; and Corporate. Its offerings include deposit accounts, credit cards, mortgages, auto loans, business banking, commercial lending, treasury services, investment banking, securities trading, investment management and private banking.

JPMorgan Chase serves customers in the United States and maintains operations and client relationships across numerous international markets.