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

Shares of JPMorgan Chase & Co. (NYSE:JPM) shot up 1.4% during trading on Wednesday . The stock traded as high as $244.09 and last traded at $242.93. 3,097,593 shares were traded during trading, a decline of 66% from the average session volume of 9,055,283 shares. The stock had previously closed at $239.56.

Analyst Upgrades and Downgrades

JPM has been the topic of a number of analyst reports. Morgan Stanley cut shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and lifted their target price for the company from $220.00 to $224.00 in a research note on Monday, September 30th. Evercore ISI upped their price target on JPMorgan Chase & Co. from $217.00 to $230.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Oppenheimer increased their price objective on shares of JPMorgan Chase & Co. from $232.00 to $241.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. 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 report on Monday, October 14th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $235.00 target price on shares of JPMorgan Chase & Co. in a research note on Tuesday, September 3rd. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, JPMorgan Chase & Co. currently has a consensus rating of “Hold” and a consensus target price of $224.31.

JPMorgan Chase & Co. Stock Performance

The firm has a market capitalization of $681.12 billion, a PE ratio of 13.46, a P/E/G ratio of 3.48 and a beta of 1.10. The business has a 50-day simple moving average of $218.35 and a 200-day simple moving average of $209.33. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.89 and a quick ratio of 0.89.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.02 by $0.35. The company had revenue of $43.32 billion during the quarter, compared to the consensus estimate of $41.43 billion. JPMorgan Chase & Co. had a return on equity of 16.71% and a net margin of 19.64%. JPMorgan Chase & Co.’s revenue was up 6.5% on a year-over-year basis. During the same period last year, the company earned $4.33 earnings per share. Equities research analysts expect that JPMorgan Chase & Co. will post 17.62 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 4th were paid a dividend of $1.25 per share. The ex-dividend date of this dividend was Friday, October 4th. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.07%. JPMorgan Chase & Co.’s payout ratio is currently 27.82%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Paradigm Capital Management LLC NV bought a new position in shares of JPMorgan Chase & Co. in the third quarter worth about $3,024,000. FSA Wealth Management LLC bought a new position in JPMorgan Chase & Co. in the 3rd quarter worth about $468,000. B&L Asset Management LLC bought a new position in JPMorgan Chase & Co. in the 3rd quarter worth about $3,267,000. Erste Asset Management GmbH purchased a new position in shares of JPMorgan Chase & Co. during the third quarter worth approximately $41,113,000. Finally, Plotkin Financial Advisors LLC bought a new stake in shares of JPMorgan Chase & Co. during the third quarter valued at approximately $275,000. Institutional investors own 71.55% of the company’s stock.

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.