JPMorgan Chase & Co. (NYSE:JPM) Stock Price Expected to Rise, Bank of America Analyst Says

JPMorgan Chase & Co. (NYSE:JPM) had its target price raised by Bank of America from $260.00 to $280.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have a buy rating on the financial services provider’s stock.

Several other research firms have also commented on JPM. Baird R W lowered JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 7th. Wells Fargo & Company increased their price objective on JPMorgan Chase & Co. from $240.00 to $270.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Truist Financial assumed coverage on JPMorgan Chase & Co. in a report on Tuesday. They set a “hold” rating and a $260.00 target price on the stock. Piper Sandler raised their price objective on shares of JPMorgan Chase & Co. from $240.00 to $275.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 3rd. Finally, Citigroup upped their price target on JPMorgan Chase & Co. from $215.00 to $250.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $245.83.

JPMorgan Chase & Co. Stock Performance

JPMorgan Chase & Co. stock opened at $243.16 on Tuesday. The company’s 50-day moving average is $240.46 and its 200 day moving average is $221.95. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.89 and a quick ratio of 0.89. The firm has a market capitalization of $684.58 billion, a P/E ratio of 13.53, a price-to-earnings-growth ratio of 3.54 and a beta of 1.11. JPMorgan Chase & Co. has a 1-year low of $164.30 and a 1-year high of $254.31.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings results on Friday, October 11th. The financial services provider reported $4.37 EPS for the quarter, beating the consensus estimate of $4.02 by $0.35. The business had revenue of $43.32 billion during 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 quarterly revenue was up 6.5% on a year-over-year basis. During the same period in the prior year, the firm posted $4.33 earnings per share. Research analysts forecast that JPMorgan Chase & Co. will post 17.62 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

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

Institutional Trading of JPMorgan Chase & Co.

A number of hedge funds and other institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. boosted its holdings in shares of JPMorgan Chase & Co. by 7.7% in the third quarter. JPMorgan Chase & Co. now owns 4,450,775 shares of the financial services provider’s stock worth $938,491,000 after buying an additional 319,730 shares during the period. Sageworth Trust Co increased its position in JPMorgan Chase & Co. by 37.9% during the third quarter. Sageworth Trust Co now owns 2,860 shares of the financial services provider’s stock worth $603,000 after buying an additional 786 shares during the last quarter. Kingsview Wealth Management LLC raised its stake in shares of JPMorgan Chase & Co. by 2.5% in the 3rd quarter. Kingsview Wealth Management LLC now owns 118,095 shares of the financial services provider’s stock valued at $24,902,000 after acquiring an additional 2,839 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of JPMorgan Chase & Co. by 16.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 692,809 shares of the financial services provider’s stock worth $143,594,000 after buying an additional 95,461 shares during the last quarter. Finally, Zions Bancorporation N.A. lifted its position in shares of JPMorgan Chase & Co. by 2.5% during the 3rd quarter. Zions Bancorporation N.A. now owns 11,157 shares of the financial services provider’s stock worth $2,353,000 after purchasing an additional 267 shares during the last quarter. Institutional investors own 71.55% of the company’s stock.

About JPMorgan Chase & Co.

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.