JPMorgan Chase & Co. (NYSE:JPM) Trading Up 1.2% – Here’s Why

JPMorgan Chase & Co. (NYSE:JPM) shares were up 1.2% on Wednesday . The stock traded as high as $254.67 and last traded at $254.24. Approximately 4,658,877 shares were traded during mid-day trading, a decline of 47% from the average daily volume of 8,839,432 shares. The stock had previously closed at $251.13.

Wall Street Analysts Forecast Growth

JPM has been the subject of a number of recent analyst reports. Baird R W upgraded shares of JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a research report on Friday, March 7th. UBS Group lifted their price objective on JPMorgan Chase & Co. from $276.00 to $287.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Wolfe Research raised JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 target price for the company in a research note on Friday, January 3rd. Piper Sandler boosted their price objective on shares of JPMorgan Chase & Co. from $240.00 to $275.00 and gave the company an “overweight” rating in a research report on Tuesday, December 3rd. Finally, Bank of America raised their price target on shares of JPMorgan Chase & Co. from $260.00 to $280.00 and gave the stock a “buy” rating in a research note on Tuesday, January 7th. Ten investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, JPMorgan Chase & Co. has an average rating of “Moderate Buy” and a consensus price target of $252.89.

JPMorgan Chase & Co. Stock Performance

The stock has a market capitalization of $692.74 billion, a price-to-earnings ratio of 12.56, a P/E/G ratio of 2.83 and a beta of 1.10. The company’s fifty day simple moving average is $257.88 and its 200 day simple moving average is $240.12. The company has a quick ratio of 0.89, a current ratio of 0.88 and a debt-to-equity ratio of 1.24.

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

JPMorgan Chase & Co. Increases Dividend

The business also recently announced 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. The ex-dividend date of this dividend is Friday, April 4th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.26%. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. JPMorgan Chase & Co.’s dividend payout ratio is 28.37%.

Insider Activity at JPMorgan Chase & Co.

In related news, insider Robin Leopold sold 1,250 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $246.92, for a total value of $308,650.00. Following the completion of the transaction, the insider now owns 49,127 shares in the company, valued at $12,130,438.84. This trade represents a 2.48 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Troy L. Rohrbaugh sold 37,500 shares of the firm’s 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 of the company’s stock, valued at $42,737,529.04. The trade was a 19.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 76,848 shares of company stock valued at $19,987,908 in the last quarter. Insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On JPMorgan Chase & Co.

Institutional investors have recently made changes to their positions in the stock. Redwood Park Advisors LLC bought a new position in JPMorgan Chase & Co. during the 4th quarter worth approximately $29,000. Sellwood Investment Partners LLC bought a new stake in JPMorgan Chase & Co. during the fourth quarter valued at $34,000. Investment Counsel Co. of Nevada bought a new stake in JPMorgan Chase & Co. during the fourth quarter valued at $37,000. Midwest Capital Advisors LLC acquired a new stake in JPMorgan Chase & Co. during the 4th quarter worth about $43,000. Finally, Prudent Man Investment Management Inc. bought a new position in shares of JPMorgan Chase & Co. in the 4th quarter worth about $43,000. Institutional investors own 71.55% of the company’s stock.

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.