JPMorgan Chase & Co. (NYSE:JPM) Given New $325.00 Price Target at Bank of America

JPMorgan Chase & Co. (NYSE:JPM) had its price target increased by Bank of America from $300.00 to $325.00 in a research note released on Wednesday,Benzinga reports. They currently have a buy rating on the financial services provider’s stock.

Other equities analysts have also recently issued research reports about the stock. Royal Bank Of Canada reiterated a “hold” rating on shares of JPMorgan Chase & Co. in a research note on Monday, June 2nd. Robert W. Baird increased their price objective on shares of JPMorgan Chase & Co. from $220.00 to $235.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 20th. Wells Fargo & Company increased their price objective on shares of JPMorgan Chase & Co. from $300.00 to $320.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 10th. Evercore ISI reduced their target price on shares of JPMorgan Chase & Co. from $273.00 to $265.00 and set an “outperform” rating for the company in a report on Tuesday, April 1st. Finally, Morgan Stanley reissued an “equal weight” rating on shares of JPMorgan Chase & Co. in a report on Monday, June 2nd. Thirteen analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $271.70.

JPMorgan Chase & Co. Stock Performance

Shares of NYSE JPM opened at $273.83 on Wednesday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.23. JPMorgan Chase & Co. has a 52-week low of $190.90 and a 52-week high of $280.25. The company has a market cap of $760.98 billion, a PE ratio of 13.44, a PEG ratio of 2.72 and a beta of 1.08. The firm’s 50-day moving average price is $254.66 and its 200-day moving average price is $251.00.

JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results on Friday, April 11th. The financial services provider reported $5.07 EPS for the quarter, topping analysts’ consensus estimates of $4.63 by $0.44. JPMorgan Chase & Co. had a net margin of 21.21% and a return on equity of 16.88%. The business had revenue of $45.30 billion during the quarter, compared to the consensus estimate of $43.62 billion. During the same quarter in the previous year, the firm posted $4.44 EPS. The firm’s revenue was up 8.0% on a year-over-year basis. As a group, analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, July 3rd will be issued a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date is Thursday, July 3rd. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 27.49%.

Insider Activity at JPMorgan Chase & Co.

In related news, General Counsel Stacey Friedman sold 6,608 shares of the firm’s stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $265.71, for a total value of $1,755,811.68. Following the completion of the transaction, the general counsel now directly owns 36,520 shares of the company’s stock, valued at approximately $9,703,729.20. This trade represents a 15.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Jeremy Barnum sold 40,014 shares of JPMorgan Chase & Co. stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $250.77, for a total transaction of $10,034,310.78. Following the transaction, the chief financial officer now directly owns 18,017 shares of the company’s stock, valued at $4,518,123.09. The trade was a 68.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 101,722 shares of company stock valued at $25,599,477. 0.47% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC boosted its stake in JPMorgan Chase & Co. by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 59,220,603 shares of the financial services provider’s stock worth $14,161,171,000 after buying an additional 876,417 shares during the period. Norges Bank purchased a new stake in shares of JPMorgan Chase & Co. during the fourth quarter valued at $8,310,884,000. Northern Trust Corp boosted its stake in shares of JPMorgan Chase & Co. by 15.4% during the fourth quarter. Northern Trust Corp now owns 33,845,676 shares of the financial services provider’s stock valued at $8,113,147,000 after purchasing an additional 4,515,147 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of JPMorgan Chase & Co. by 1.9% during the first quarter. Bank of New York Mellon Corp now owns 24,801,153 shares of the financial services provider’s stock valued at $6,083,723,000 after purchasing an additional 454,226 shares during the period. Finally, GAMMA Investing LLC boosted its stake in shares of JPMorgan Chase & Co. by 25,861.9% during the first quarter. GAMMA Investing LLC now owns 23,556,011 shares of the financial services provider’s stock valued at $5,778,289,000 after purchasing an additional 23,465,278 shares during the period. 71.55% of the stock is owned by hedge funds and other institutional investors.

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.