JPMorgan Chase & Co. (NYSE:JPM) Shares Up 0.7% – Here’s What Happened

JPMorgan Chase & Co. (NYSE:JPM)’s stock price shot up 0.7% during trading on Wednesday . The company traded as high as $270.68 and last traded at $269.09. 2,147,770 shares were traded during trading, a decline of 79% from the average session volume of 10,452,278 shares. The stock had previously closed at $267.14.

Analyst Ratings Changes

A number of brokerages have recently commented on JPM. Keefe, Bruyette & Woods increased their price objective on JPMorgan Chase & Co. from $257.00 to $264.00 and gave the company a “market perform” rating in a research report on Thursday, January 16th. Royal Bank of Canada increased their price objective on JPMorgan Chase & Co. from $211.00 to $230.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Wolfe Research upgraded JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 target price for the company in a report on Friday, January 3rd. Piper Sandler increased their target price on JPMorgan Chase & Co. from $240.00 to $275.00 and gave the company an “overweight” rating in a report on Tuesday, December 3rd. Finally, Citigroup increased their target price on JPMorgan Chase & Co. from $215.00 to $250.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $251.78.

JPMorgan Chase & Co. Price Performance

The company has a quick ratio of 0.89, a current ratio of 0.88 and a debt-to-equity ratio of 1.24. The stock has a market capitalization of $751.80 billion, a price-to-earnings ratio of 13.51, a P/E/G ratio of 2.83 and a beta of 1.11. The company’s 50-day simple moving average is $246.56 and its 200 day simple moving average is $227.36.

JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results on Wednesday, January 15th. The financial services provider reported $4.81 EPS for the quarter, topping the consensus estimate of $4.03 by $0.78. The firm had revenue of $42.77 billion for the quarter, compared to the consensus estimate of $41.90 billion. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The business’s quarterly revenue was up 10.9% on a year-over-year basis. During the same period in the prior year, the business posted $3.04 earnings per share. Equities research analysts forecast that JPMorgan Chase & Co. will post 17.82 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, January 6th will be given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 1.87%. The ex-dividend date of this dividend is Monday, January 6th. JPMorgan Chase & Co.’s payout ratio is 25.33%.

Insiders Place Their Bets

In other news, General Counsel Stacey Friedman sold 3,303 shares of the firm’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $253.94, for a total value of $838,763.82. Following the sale, the general counsel now directly owns 47,620 shares of the company’s stock, valued at approximately $12,092,622.80. This trade represents a 6.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On JPMorgan Chase & Co.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Mizuho Securities Co. Ltd. acquired a new stake in shares of JPMorgan Chase & Co. in the third quarter valued at about $25,000. Catalyst Capital Advisors LLC bought a new stake in shares of JPMorgan Chase & Co. in the third quarter valued at about $27,000. West Financial Advisors LLC bought a new stake in shares of JPMorgan Chase & Co. in the third quarter valued at about $37,000. New England Capital Financial Advisors LLC lifted its stake in shares of JPMorgan Chase & Co. by 38.5% in the third quarter. New England Capital Financial Advisors LLC now owns 180 shares of the financial services provider’s stock valued at $38,000 after buying an additional 50 shares during the period. Finally, Collier Financial bought a new stake in shares of JPMorgan Chase & Co. in the fourth quarter valued at about $45,000. 71.55% of the stock is owned by institutional investors and hedge funds.

About JPMorgan Chase & Co.

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. The firm offers a range of investment banking products and services in all capital markets, including advising on corporate strategy and structure, capital raising in equity and debt markets, risk management, market making in cash securities and derivative instruments, and brokerage and research.