Truist Financial Has Lowered Expectations for JPMorgan Chase & Co. (NYSE:JPM) Stock Price

JPMorgan Chase & Co. (NYSE:JPM) had its target price reduced by Truist Financial from $264.00 to $251.00 in a report issued on Monday morning,Benzinga reports. They currently have a hold rating on the financial services provider’s stock.

A number of other research firms have also recently commented on JPM. Barclays increased their price target on JPMorgan Chase & Co. from $304.00 to $330.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Evercore ISI decreased their price objective on shares of JPMorgan Chase & Co. from $273.00 to $265.00 and set an “outperform” rating for the company in a research report on Tuesday, April 1st. Baird R W upgraded shares of JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a research note on Friday, March 7th. Wolfe Research upgraded shares of JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 price target on the stock in a research note on Friday, January 3rd. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of JPMorgan Chase & Co. from $257.00 to $264.00 and gave the stock a “market perform” rating in a research note on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $254.11.

JPMorgan Chase & Co. Price Performance

NYSE JPM opened at $234.23 on Monday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.89 and a current ratio of 0.88. The company has a market cap of $651.86 billion, a PE ratio of 11.87, a P/E/G ratio of 2.83 and a beta of 1.01. The firm’s 50 day moving average price is $248.17 and its 200-day moving average price is $242.43. JPMorgan Chase & Co. has a 52-week low of $179.20 and a 52-week high of $280.25.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings results on Friday, April 11th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.63 by $0.44. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The business had revenue of $45.30 billion for the quarter, compared to analyst estimates of $43.62 billion. During the same period in the previous year, the company earned $4.44 earnings per share. The business’s revenue for the quarter was up 8.0% on a year-over-year basis. Sell-side analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Friday, April 4th will be issued a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 2.39%. The ex-dividend date is Friday, April 4th. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. JPMorgan Chase & Co.’s payout ratio is 27.49%.

Insider Buying and Selling

In other JPMorgan Chase & Co. news, CEO Troy L. Rohrbaugh sold 25,000 shares of the company’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $247.02, for a total value of $6,175,500.00. Following the completion of the transaction, the chief executive officer now owns 133,381 shares in the company, valued at approximately $32,947,774.62. This represents a 15.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Robin Leopold sold 1,250 shares of the stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $246.92, for a total transaction of $308,650.00. Following the sale, the insider now directly owns 49,127 shares in the company, valued at approximately $12,130,438.84. The trade was a 2.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 76,848 shares of company stock valued at $19,987,908 over the last ninety days. Company insiders own 0.79% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Principal Financial Group Inc. grew its position in JPMorgan Chase & Co. by 3.2% in the 3rd quarter. Principal Financial Group Inc. now owns 5,824,289 shares of the financial services provider’s stock valued at $1,228,110,000 after acquiring an additional 182,648 shares in the last quarter. Invst LLC boosted its stake in shares of JPMorgan Chase & Co. by 1.4% in the third quarter. Invst LLC now owns 15,033 shares of the financial services provider’s stock valued at $3,170,000 after purchasing an additional 204 shares during the period. Passumpsic Savings Bank grew its holdings in shares of JPMorgan Chase & Co. by 15.1% in the third quarter. Passumpsic Savings Bank now owns 10,753 shares of the financial services provider’s stock valued at $2,267,000 after purchasing an additional 1,407 shares in the last quarter. SOA Wealth Advisors LLC. increased its stake in JPMorgan Chase & Co. by 1.5% during the 3rd quarter. SOA Wealth Advisors LLC. now owns 21,082 shares of the financial services provider’s stock worth $4,445,000 after buying an additional 311 shares during the period. Finally, Morse Asset Management Inc lifted its holdings in JPMorgan Chase & Co. by 234.4% during the 3rd quarter. Morse Asset Management Inc now owns 7,226 shares of the financial services provider’s stock worth $1,524,000 after buying an additional 5,065 shares in the last quarter. 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. 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.