JPMorgan Chase & Co. (NYSE:JPM) Shares Up 1.6% – What’s Next?

JPMorgan Chase & Co. (NYSE:JPM) shot up 1.6% on Wednesday . The company traded as high as $242.49 and last traded at $242.31. 3,729,092 shares were traded during mid-day trading, a decline of 59% from the average session volume of 9,081,782 shares. The stock had previously closed at $238.39.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on JPM shares. Baird R W lowered shares of JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a report on Thursday, November 7th. Evercore ISI increased their price target on JPMorgan Chase & Co. from $217.00 to $230.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Piper Sandler boosted their price objective on JPMorgan Chase & Co. from $240.00 to $275.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 3rd. Barclays lifted their price target on JPMorgan Chase & Co. from $217.00 to $257.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Finally, Morgan Stanley cut shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and raised their price objective for the company from $220.00 to $224.00 in a research report on Monday, September 30th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $234.81.

JPMorgan Chase & Co. Stock Performance

The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.89 and a current ratio of 0.89. The stock has a 50-day moving average of $237.00 and a 200-day moving average of $218.74. The firm has a market cap of $682.19 billion, a price-to-earnings ratio of 13.48, a price-to-earnings-growth ratio of 3.54 and a beta of 1.11.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.02 by $0.35. The firm had revenue of $43.32 billion for the quarter, compared to analyst estimates of $41.43 billion. JPMorgan Chase & Co. had a net margin of 19.64% and a return on equity of 16.71%. The company’s revenue was up 6.5% compared to the same quarter last year. During the same period in the previous year, the business earned $4.33 EPS. As a group, analysts anticipate that JPMorgan Chase & Co. will post 17.62 EPS for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, January 6th will be issued a dividend of $1.25 per share. The ex-dividend date is Monday, January 6th. This represents a $5.00 dividend on an annualized basis and a yield of 2.06%. JPMorgan Chase & Co.’s payout ratio is 27.82%.

Institutional Trading of JPMorgan Chase & Co.

Several institutional investors and hedge funds have recently bought and sold shares of the business. International Assets Investment Management LLC acquired a new position in shares of JPMorgan Chase & Co. in the third quarter valued at $1,888,088,000. Fisher Asset Management LLC grew its position in shares of JPMorgan Chase & Co. by 31.7% during the 3rd quarter. Fisher Asset Management LLC now owns 16,784,272 shares of the financial services provider’s stock worth $3,539,132,000 after purchasing an additional 4,043,841 shares in the last quarter. Wulff Hansen & CO. raised its position in shares of JPMorgan Chase & Co. by 19,920.7% in the second quarter. Wulff Hansen & CO. now owns 2,801,503 shares of the financial services provider’s stock valued at $566,632,000 after buying an additional 2,787,510 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of JPMorgan Chase & Co. by 137.8% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,376,176 shares of the financial services provider’s stock valued at $922,760,000 after buying an additional 2,535,590 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec increased its stake in JPMorgan Chase & Co. by 93.6% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,692,159 shares of the financial services provider’s stock worth $567,669,000 after acquiring an additional 1,301,764 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.