JPMorgan Chase & Co. (NYSE:JPM) Releases Earnings Results, Beats Estimates By $0.55 EPS

JPMorgan Chase & Co. (NYSE:JPM) posted its quarterly earnings results on Tuesday. The financial services provider reported $6.14 EPS for the quarter, beating the consensus estimate of $5.59 by $0.55, FiscalAI reports. JPMorgan Chase & Co. had a return on equity of 17.54% and a net margin of 20.66%.The business had revenue of $58.02 billion during the quarter, compared to analysts’ expectations of $51.09 billion.

JPMorgan Chase & Co. Price Performance

JPMorgan Chase & Co. stock opened at $335.19 on Tuesday. The firm has a market capitalization of $898.14 billion, a PE ratio of 16.05, a P/E/G ratio of 1.53 and a beta of 0.99. JPMorgan Chase & Co. has a 52 week low of $279.10 and a 52 week high of $343.45. The firm’s 50-day simple moving average is $316.28 and its 200 day simple moving average is $309.76. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 1.30.

JPMorgan Chase & Co. Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Monday, July 6th will be paid a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Monday, July 6th. JPMorgan Chase & Co.’s payout ratio is 28.74%.

Key JPMorgan Chase & Co. News

Here are the key news stories impacting JPMorgan Chase & Co. this week:

Insider Buying and Selling at JPMorgan Chase & Co.

In other news, General Counsel Stacey Friedman sold 5,468 shares of the stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $300.27, for a total value of $1,641,876.36. Following the sale, the general counsel directly owned 46,428 shares in the company, valued at $13,940,935.56. This represents a 10.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Jeremy Barnum sold 5,611 shares of the stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $306.55, for a total transaction of $1,720,052.05. Following the completion of the sale, the chief financial officer owned 35,460 shares in the company, valued at $10,870,263. This represents a 13.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 33,623 shares of company stock worth $10,427,835. 0.41% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On JPMorgan Chase & Co.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Schwallier Wealth Management LLC increased its position in JPMorgan Chase & Co. by 4.4% during the fourth quarter. Schwallier Wealth Management LLC now owns 848 shares of the financial services provider’s stock worth $259,000 after buying an additional 36 shares in the last quarter. Strata Wealth Advisors LLC increased its position in JPMorgan Chase & Co. by 2.3% during the 4th quarter. Strata Wealth Advisors LLC now owns 1,610 shares of the financial services provider’s stock worth $519,000 after purchasing an additional 36 shares in the last quarter. Financial Life Planners raised its stake in JPMorgan Chase & Co. by 4.2% in the 3rd quarter. Financial Life Planners now owns 908 shares of the financial services provider’s stock valued at $286,000 after purchasing an additional 37 shares during the last quarter. Betterment LLC lifted its holdings in JPMorgan Chase & Co. by 1.9% in the 3rd quarter. Betterment LLC now owns 2,007 shares of the financial services provider’s stock valued at $633,000 after purchasing an additional 37 shares in the last quarter. Finally, Uniting Wealth Partners LLC lifted its holdings in JPMorgan Chase & Co. by 0.7% in the 4th quarter. Uniting Wealth Partners LLC now owns 5,181 shares of the financial services provider’s stock valued at $1,669,000 after purchasing an additional 37 shares in the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on JPM. Morgan Stanley increased their price objective on JPMorgan Chase & Co. from $336.00 to $362.00 and gave the stock an “equal weight” rating in a research report on Monday, June 29th. Zacks Research cut shares of JPMorgan Chase & Co. from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 8th. Evercore reiterated an “outperform” rating and issued a $360.00 price target on shares of JPMorgan Chase & Co. in a report on Monday, July 6th. Weiss Ratings raised shares of JPMorgan Chase & Co. from a “buy (b)” rating to a “buy (b+)” rating in a report on Monday, July 6th. Finally, Argus upped their target price on shares of JPMorgan Chase & Co. from $340.00 to $355.00 and gave the stock a “buy” rating in a research report on Wednesday, April 15th. Fourteen equities research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $345.33.

Read Our Latest Analysis on JPMorgan Chase & Co.

JPMorgan Chase & Co. Company Profile

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JPMorgan Chase & Co (NYSE: JPM) is a diversified global financial services firm headquartered in New York City. The company provides a wide range of banking and financial products and services to consumers, small businesses, corporations, governments and institutional investors worldwide. Its operations span retail banking, commercial lending, investment banking, asset management, payments and card services, and treasury and securities services.

The firm’s principal business activities are organized across several core lines: Consumer & Community Banking, which offers deposit accounts, mortgages, auto loans, credit cards and branch and digital banking under the Chase brand; Corporate & Investment Banking, which provides capital markets, advisory, underwriting, trading and risk management services; Commercial Banking, delivering lending, treasury and capital solutions to middle-market and corporate clients; and Asset & Wealth Management, which offers investment management, private banking and retirement services to institutions and high-net-worth individuals.

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Earnings History for JPMorgan Chase & Co. (NYSE:JPM)

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