JPMorgan Chase & Co. (NYSE:JPM) Hits New 1-Year High – Time to Buy?

JPMorgan Chase & Co. (NYSE:JPM) shares hit a new 52-week high during trading on Thursday . The stock traded as high as $341.00 and last traded at $342.42, with a volume of 2475641 shares trading hands. The stock had previously closed at $333.45.

Key JPMorgan Chase & Co. News

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

• Positive Sentiment: JPMorgan cleared the Federal Reserve’s annual stress test, reinforcing that the bank is well capitalized and can withstand a severe downturn. That result supports higher payouts and helps confirm the firm’s balance-sheet strength. Article Title
• Positive Sentiment: The board approved a 10% dividend increase and a new $50 billion share buyback, which is a strong signal of confidence in earnings power and capital generation. Article Title
• Positive Sentiment: The stock recently hit an all-time high as investors reacted favorably to the dividend boost, buyback authorization, and ongoing confidence in JPMorgan’s earnings and capital return profile. Article Title

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Zacks Research downgraded JPMorgan Chase & Co. from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 8th. Dbs Bank upgraded JPMorgan Chase & Co. to a “hold” rating in a research note on Tuesday, May 12th. Evercore raised their price objective on JPMorgan Chase & Co. from $320.00 to $340.00 and gave the company an “outperform” rating in a report on Friday, April 17th. Truist Financial boosted their price objective on JPMorgan Chase & Co. from $332.00 to $344.00 and gave the stock a “hold” rating in a research report on Friday. Finally, Autonomous Res lowered their target price on JPMorgan Chase & Co. from $360.00 to $324.00 and set a “neutral” rating for the company in a report on Monday, April 6th. Fourteen research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company. According to MarketBeat.com, JPMorgan Chase & Co. currently has an average rating of “Hold” and an average price target of $339.58.

JPMorgan Chase & Co. Stock Down 1.9%

The stock’s 50-day moving average price is $311.44 and its 200-day moving average price is $308.42. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 1.30. The stock has a market cap of $880.83 billion, a price-to-earnings ratio of 15.74, a P/E/G ratio of 1.56 and a beta of 1.00.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data on Tuesday, April 14th. The financial services provider reported $5.94 earnings per share for the quarter, topping the consensus estimate of $5.50 by $0.44. JPMorgan Chase & Co. had a net margin of 20.66% and a return on equity of 17.54%. The company had revenue of $50.54 billion during the quarter, compared to analysts’ expectations of $48.30 billion. During the same period in the prior year, the company posted $5.07 earnings per share. JPMorgan Chase & Co.’s revenue for the quarter was up 10.0% compared to the same quarter last year. On average, sell-side analysts expect that JPMorgan Chase & Co. will post 22.44 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

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

Insiders Place Their Bets

In other news, COO Jennifer Piepszak sold 4,919 shares of JPMorgan Chase & Co. stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $309.42, for a total value of $1,522,036.98. Following the completion of the transaction, the chief operating officer directly owned 85,082 shares of the company’s stock, valued at approximately $26,326,072.44. This trade represents a 5.47% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Jeremy Barnum sold 3,022 shares of the business’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $309.41, for a total value of $935,037.02. Following the completion of the transaction, the chief financial officer directly owned 32,438 shares in the company, valued at $10,036,641.58. This represents a 8.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 33,623 shares of company stock worth $10,427,835. Company insiders own 0.41% of the company’s stock.

Hedge Funds Weigh In On JPMorgan Chase & Co.

Several institutional investors have recently added to or reduced their stakes in JPM. Timmons Wealth Management LLC acquired a new stake in JPMorgan Chase & Co. in the fourth quarter worth $27,000. MBM Wealth Consultants LLC acquired a new position in shares of JPMorgan Chase & Co. during the first quarter valued at about $29,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of JPMorgan Chase & Co. during the fourth quarter valued at about $32,000. Osbon Capital Management LLC bought a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth about $35,000. Finally, Turning Point Benefit Group Inc. bought a new position in shares of JPMorgan Chase & Co. during the 3rd quarter worth about $35,000. 71.55% of the stock is owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Company Profile

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.