Bank of America Cuts JPMorgan Chase & Co. (NYSE:JPM) Price Target to $284.00

JPMorgan Chase & Co. (NYSE:JPM) had its price target trimmed by Bank of America from $285.00 to $284.00 in a research report sent to investors on Wednesday,Benzinga reports. The firm currently has a buy rating on the financial services provider’s stock.

Several other equities research analysts have also recently issued reports on JPM. Truist Financial raised their target price on shares of JPMorgan Chase & Co. from $260.00 to $268.00 and gave the stock a “hold” rating in a research report on Thursday, January 16th. Keefe, Bruyette & Woods lifted their price target on shares of JPMorgan Chase & Co. from $257.00 to $264.00 and gave the company a “market perform” rating in a report on Thursday, January 16th. Robert W. Baird upgraded JPMorgan Chase & Co. from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $215.00 to $220.00 in a report on Friday, March 7th. Wolfe Research upgraded JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 target price on the stock in a report on Friday, January 3rd. Finally, UBS Group boosted their price target on JPMorgan Chase & Co. from $276.00 to $287.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Ten investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $254.83.

JPMorgan Chase & Co. Stock Performance

Shares of JPM opened at $210.09 on Wednesday. JPMorgan Chase & Co. has a 1 year low of $179.20 and a 1 year high of $280.25. The company’s 50 day simple moving average is $254.71 and its 200 day simple moving average is $241.29. The company has a market capitalization of $587.43 billion, a price-to-earnings ratio of 10.64, a PEG ratio of 2.83 and a beta of 1.01. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.89 and a current ratio of 0.88.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.03 by $0.78. The business had revenue of $42.77 billion for the quarter, compared to analysts’ expectations of $41.90 billion. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. The business’s revenue was up 10.9% on a year-over-year basis. During the same quarter last year, the firm earned $3.04 earnings per share. On average, sell-side analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Friday, April 4th will be issued a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 2.67%. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. The ex-dividend date is Friday, April 4th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 28.37%.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, CEO Troy L. Rohrbaugh sold 37,500 shares of the stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $269.84, for a total transaction of $10,119,000.00. Following the transaction, the chief executive officer now directly owns 158,381 shares in the company, valued at $42,737,529.04. This represents a 19.14 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Robin Leopold sold 1,250 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $270.09, for a total transaction of $337,612.50. Following the completion of the sale, the insider now owns 50,377 shares in the company, valued at approximately $13,606,323.93. This trade represents a 2.42 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 76,848 shares of company stock worth $19,987,908 in the last quarter. 0.79% of the stock is owned by corporate insiders.

Institutional Trading of JPMorgan Chase & Co.

Institutional investors and hedge funds have recently modified their holdings of the business. Norges Bank bought a new position in shares of JPMorgan Chase & Co. during the fourth quarter valued at approximately $8,310,884,000. Northern Trust Corp grew its stake in JPMorgan Chase & Co. by 15.4% during the 4th quarter. Northern Trust Corp now owns 33,845,676 shares of the financial services provider’s stock worth $8,113,147,000 after buying an additional 4,515,147 shares during the last quarter. Proficio Capital Partners LLC increased its position in JPMorgan Chase & Co. by 34,259.3% in the fourth quarter. Proficio Capital Partners LLC now owns 3,499,499 shares of the financial services provider’s stock worth $838,865,000 after buying an additional 3,489,314 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its stake in JPMorgan Chase & Co. by 31.4% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 10,684,810 shares of the financial services provider’s stock valued at $2,561,256,000 after buying an additional 2,551,899 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of JPMorgan Chase & Co. by 16.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 17,550,491 shares of the financial services provider’s stock valued at $4,207,028,000 after acquiring an additional 2,465,572 shares during the period. 71.55% of the stock is owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Company Profile

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.