JPMorgan Chase & Co. (NYSE:JPM) Trading 1.8% Higher – Should You Buy?

Shares of JPMorgan Chase & Co. (NYSE:JPM) shot up 1.8% during mid-day trading on Tuesday . The stock traded as high as $304.50 and last traded at $303.2210. 8,747,549 shares changed hands during mid-day trading, a decline of 7% from the average session volume of 9,361,747 shares. The stock had previously closed at $298.00.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. KGI Securities raised their price objective on JPMorgan Chase & Co. from $300.00 to $315.00 and gave the stock a “hold” rating in a research note on Wednesday, October 15th. Wall Street Zen raised JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. TD Cowen boosted their price objective on JPMorgan Chase & Co. from $350.00 to $370.00 and gave the company a “buy” rating in a research report on Friday, October 3rd. Truist Financial increased their target price on JPMorgan Chase & Co. from $290.00 to $319.00 and gave the stock a “hold” rating in a research note on Tuesday, September 23rd. Finally, Citigroup lifted their price target on shares of JPMorgan Chase & Co. from $275.00 to $325.00 and gave the company a “neutral” rating in a research note on Wednesday, September 24th. Fifteen equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, JPMorgan Chase & Co. has an average rating of “Hold” and a consensus price target of $326.38.

JPMorgan Chase & Co. Price Performance

The stock has a market cap of $825.45 billion, a P/E ratio of 15.02, a PEG ratio of 1.84 and a beta of 1.14. The company has a 50 day simple moving average of $307.20 and a 200 day simple moving average of $292.10. The company has a current ratio of 0.86, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.83 by $0.24. JPMorgan Chase & Co. had a net margin of 20.90% and a return on equity of 17.18%. The company had revenue of $47.12 billion for the quarter, compared to the consensus estimate of $44.42 billion. During the same period last year, the company earned $4.37 earnings per share. The firm’s revenue was up 8.8% compared to the same quarter last year. Sell-side analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Monday, October 6th were paid a dividend of $1.50 per share. The ex-dividend date was Monday, October 6th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.0%. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 29.72%.

Insider Activity

In related news, insider Robin Leopold sold 966 shares of JPMorgan Chase & Co. stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $311.92, for a total value of $301,314.72. Following the sale, the insider owned 58,479 shares of the company’s stock, valued at approximately $18,240,769.68. The trade was a 1.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Linda Bammann sold 9,500 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $297.94, for a total value of $2,830,430.00. Following the transaction, the director directly owned 82,207 shares of the company’s stock, valued at $24,492,753.58. This trade represents a 10.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.47% of the stock is owned by company insiders.

Institutional Trading of JPMorgan Chase & Co.

Several institutional investors and hedge funds have recently added to or reduced their stakes in JPM. Harbor Asset Planning Inc. bought a new position in shares of JPMorgan Chase & Co. during the 2nd quarter worth approximately $26,000. MJT & Associates Financial Advisory Group Inc. bought a new position in JPMorgan Chase & Co. during the first quarter worth $28,000. University of Illinois Foundation acquired a new position in shares of JPMorgan Chase & Co. in the first quarter valued at $30,000. Mizuho Securities Co. Ltd. increased its holdings in shares of JPMorgan Chase & Co. by 450.0% in the second quarter. Mizuho Securities Co. Ltd. now owns 110 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 90 shares during the last quarter. Finally, Mountain Hill Investment Partners Corp. bought a new position in shares of JPMorgan Chase & Co. in the third quarter valued at about $32,000. 71.55% of the stock is owned by institutional investors.

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.