JPMorgan Chase & Co. (NYSE:JPM) Trading Up 1.4% – Here’s Why

Shares of JPMorgan Chase & Co. (NYSE:JPM) traded up 1.4% during trading on Wednesday . The stock traded as high as $312.36 and last traded at $312.0720. 7,337,563 shares traded hands during trading, a decline of 21% from the average session volume of 9,309,249 shares. The stock had previously closed at $307.88.

Analysts Set New Price Targets

JPM has been the topic of a number of analyst reports. Loop Capital set a $310.00 target price on shares of JPMorgan Chase & Co. in a research note on Thursday, October 23rd. Evercore ISI raised their price target on JPMorgan Chase & Co. from $309.00 to $330.00 and gave the company an “outperform” rating in a report on Tuesday, September 30th. Barclays upped their price objective on JPMorgan Chase & Co. from $330.00 to $342.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 15th. Morgan Stanley increased their target price on JPMorgan Chase & Co. from $336.00 to $338.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 15th. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $366.00 price target on shares of JPMorgan Chase & Co. in a report on Tuesday, October 14th. Fifteen equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $326.38.

JPMorgan Chase & Co. Stock Up 1.4%

The business has a 50-day moving average of $306.73 and a 200 day moving average of $294.02. The company has a market capitalization of $849.54 billion, a PE ratio of 15.46, a P/E/G ratio of 1.60 and a beta of 1.08. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.86 and a quick ratio of 0.86.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share for the quarter, beating the consensus estimate of $4.83 by $0.24. JPMorgan Chase & Co. had a return on equity of 17.18% and a net margin of 20.90%.The business had revenue of $47.12 billion during the quarter, compared to analysts’ expectations of $44.42 billion. During the same quarter last year, the business posted $4.37 EPS. The firm’s revenue for the quarter was up 8.8% compared to the same quarter last year. Equities research analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 31st. Shareholders of record on Monday, October 6th were paid a dividend of $1.50 per share. The ex-dividend date of this dividend was Monday, October 6th. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. This represents a $6.00 annualized dividend and a yield of 1.9%. JPMorgan Chase & Co.’s payout ratio is presently 29.72%.

Insider Transactions at JPMorgan Chase & Co.

In other news, insider Robin Leopold sold 966 shares of the firm’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $311.92, for a total value of $301,314.72. Following the completion of the sale, the insider directly owned 58,479 shares of the company’s stock, valued at $18,240,769.68. This trade represents a 1.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.47% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On JPMorgan Chase & Co.

Large investors have recently modified their holdings of the stock. Kingstone Capital Partners Texas LLC raised its stake in shares of JPMorgan Chase & Co. by 609,867.5% in the second quarter. Kingstone Capital Partners Texas LLC now owns 72,897,211 shares of the financial services provider’s stock valued at $21,133,630,000 after acquiring an additional 72,885,260 shares during the period. Norges Bank purchased a new position in shares of JPMorgan Chase & Co. during the 2nd quarter worth about $10,295,209,000. Laurel Wealth Advisors LLC grew its holdings in JPMorgan Chase & Co. by 28,813.7% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 16,785,584 shares of the financial services provider’s stock valued at $4,866,309,000 after purchasing an additional 16,727,530 shares during the last quarter. Nuveen LLC bought a new position in JPMorgan Chase & Co. during the 1st quarter valued at about $3,972,807,000. Finally, Danske Bank A S purchased a new stake in JPMorgan Chase & Co. in the 3rd quarter worth about $696,885,000. Institutional investors own 71.55% of the company’s stock.

About JPMorgan Chase & Co.

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.