JPMorgan Chase & Co. (NYSE:JPM) Price Target Raised to $298.00

JPMorgan Chase & Co. (NYSE:JPM) had its price target hoisted by Evercore ISI from $280.00 to $298.00 in a research note published on Wednesday,Benzinga reports. They currently have an outperform rating on the financial services provider’s stock.

Other analysts have also issued research reports about the stock. Royal Bank Of Canada reiterated a “hold” rating on shares of JPMorgan Chase & Co. in a research report on Monday, June 2nd. Wall Street Zen upgraded shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research report on Wednesday, May 14th. UBS Group lifted their target price on shares of JPMorgan Chase & Co. from $277.00 to $305.00 and gave the company a “buy” rating in a research report on Thursday, April 17th. Wells Fargo & Company boosted their price target on shares of JPMorgan Chase & Co. from $300.00 to $320.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 10th. Finally, Citigroup restated a “neutral” rating and set a $275.00 price target (up from $250.00) on shares of JPMorgan Chase & Co. in a research report on Wednesday, June 25th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $277.74.

JPMorgan Chase & Co. Stock Up 1.4%

Shares of NYSE JPM opened at $296.13 on Wednesday. The company’s 50-day simple moving average is $266.97 and its 200-day simple moving average is $254.56. JPMorgan Chase & Co. has a 52-week low of $190.90 and a 52-week high of $296.40. The firm has a market cap of $822.96 billion, a price-to-earnings ratio of 14.54, a price-to-earnings-growth ratio of 2.75 and a beta of 1.10. 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. (NYSE:JPM) last announced its earnings results on Friday, April 11th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $43.62 billion. During the same quarter last year, the business earned $4.44 earnings per share. The company’s revenue for the quarter was up 8.0% compared to the same quarter last year. Equities analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 3rd will be paid a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date of this dividend is Thursday, July 3rd. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 27.49%.

Insider Activity

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of JPMorgan Chase & Co. stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $250.00, for a total transaction of $2,375,000.00. Following the transaction, the director directly owned 91,539 shares of the company’s stock, valued at $22,884,750. The trade was a 9.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Jennifer Piepszak sold 6,129 shares of JPMorgan Chase & Co. stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $250.76, for a total transaction of $1,536,908.04. Following the transaction, the chief operating officer directly owned 68,583 shares in the company, valued at $17,197,873.08. This trade represents a 8.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 71,200 shares of company stock valued at $18,060,015 over the last three months. 0.47% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On JPMorgan Chase & Co.

A number of institutional investors have recently bought and sold shares of JPM. McLean Asset Management Corp raised its stake in shares of JPMorgan Chase & Co. by 2.3% in the 2nd quarter. McLean Asset Management Corp now owns 7,394 shares of the financial services provider’s stock valued at $2,159,000 after acquiring an additional 164 shares during the period. Sage Capital Advisors llc raised its stake in shares of JPMorgan Chase & Co. by 7.4% in the 2nd quarter. Sage Capital Advisors llc now owns 2,175 shares of the financial services provider’s stock valued at $631,000 after acquiring an additional 149 shares during the period. Fiduciary Financial Group LLC raised its stake in shares of JPMorgan Chase & Co. by 4.1% in the 2nd quarter. Fiduciary Financial Group LLC now owns 3,969 shares of the financial services provider’s stock valued at $1,153,000 after acquiring an additional 156 shares during the period. City Center Advisors LLC raised its stake in shares of JPMorgan Chase & Co. by 15.7% in the 2nd quarter. City Center Advisors LLC now owns 1,015 shares of the financial services provider’s stock valued at $294,000 after acquiring an additional 138 shares during the period. Finally, Capital Market Strategies LLC raised its stake in shares of JPMorgan Chase & Co. by 7.0% in the 2nd quarter. Capital Market Strategies LLC now owns 1,170 shares of the financial services provider’s stock valued at $339,000 after acquiring an additional 77 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.