JPMorgan Chase & Co. (NYSE:JPM) Price Target Raised to $241.00 at Oppenheimer

JPMorgan Chase & Co. (NYSE:JPM) had its price objective hoisted by Oppenheimer from $232.00 to $241.00 in a report released on Tuesday morning,Benzinga reports. The firm currently has an outperform rating on the financial services provider’s stock.

Other research analysts have also issued reports about the stock. Piper Sandler lifted their price target on shares of JPMorgan Chase & Co. from $220.00 to $230.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Evercore ISI upped their price target on shares of JPMorgan Chase & Co. from $217.00 to $230.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Royal Bank of Canada boosted their target price on shares of JPMorgan Chase & Co. from $211.00 to $230.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Citigroup boosted their price target on shares of JPMorgan Chase & Co. from $205.00 to $215.00 and gave the company a “neutral” rating in a report on Monday, July 15th. Finally, Wolfe Research lowered shares of JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a report on Monday, July 8th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $224.31.

JPMorgan Chase & Co. Stock Up 0.9 %

JPMorgan Chase & Co. stock traded up $2.16 during trading on Tuesday, reaching $238.54. 3,308,498 shares of the company’s stock were exchanged, compared to its average volume of 9,066,557. The company’s 50-day moving average is $216.71 and its two-hundred day moving average is $207.71. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.89 and a current ratio of 0.89. JPMorgan Chase & Co. has a 52-week low of $143.70 and a 52-week high of $248.00. The firm has a market cap of $671.57 billion, a price-to-earnings ratio of 13.25, a PEG ratio of 3.21 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data on Friday, October 11th. The financial services provider reported $4.37 earnings per share for the quarter, beating analysts’ consensus estimates of $4.02 by $0.35. The company had revenue of $43.32 billion during the quarter, compared to analysts’ expectations of $41.43 billion. JPMorgan Chase & Co. had a net margin of 19.64% and a return on equity of 16.71%. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period in the prior year, the company posted $4.33 EPS. On average, analysts predict that JPMorgan Chase & Co. will post 17.52 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, October 4th were given a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date was Friday, October 4th. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s payout ratio is presently 27.82%.

Institutional Investors Weigh In On JPMorgan Chase & Co.

A number of institutional investors have recently modified their holdings of the business. WFA Asset Management Corp grew its holdings in shares of JPMorgan Chase & Co. by 51.2% during the first quarter. WFA Asset Management Corp now owns 1,216 shares of the financial services provider’s stock worth $244,000 after purchasing an additional 412 shares during the last quarter. Core Wealth Partners LLC boosted its position in shares of JPMorgan Chase & Co. by 5.1% in the first quarter. Core Wealth Partners LLC now owns 6,106 shares of the financial services provider’s stock valued at $1,223,000 after acquiring an additional 299 shares during the period. Tempus Wealth Planning LLC lifted its position in JPMorgan Chase & Co. by 3.1% during the first quarter. Tempus Wealth Planning LLC now owns 9,102 shares of the financial services provider’s stock valued at $1,823,000 after purchasing an additional 270 shares during the last quarter. Powers Advisory Group LLC raised its stake in shares of JPMorgan Chase & Co. by 3.9% during the first quarter. Powers Advisory Group LLC now owns 6,031 shares of the financial services provider’s stock worth $1,208,000 after acquiring an additional 226 shares in the last quarter. Finally, Oak Harvest Investment Services increased its stake in shares of JPMorgan Chase & Co. by 4.5% in the first quarter. Oak Harvest Investment Services now owns 88,049 shares of the financial services provider’s stock worth $17,636,000 after buying an additional 3,800 shares during the period. Institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit, investment and lending products, cash management, and payments and services; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.