JPMorgan Chase & Co. (NYSE:JPM) – Analysts at Piper Sandler raised their FY2021 earnings per share (EPS) estimates for JPMorgan Chase & Co. in a report issued on Thursday, April 15th. Piper Sandler analyst J. Harte now expects that the financial services provider will post earnings of $13.01 per share for the year, up from their previous estimate of $10.81. Piper Sandler has a “Overweight” rating and a $182.00 price target on the stock.
A number of other equities analysts have also issued reports on the stock. DZ Bank reaffirmed a “buy” rating on shares of JPMorgan Chase & Co. in a research report on Tuesday, April 6th. Keefe, Bruyette & Woods upped their price target on shares of JPMorgan Chase & Co. from $135.00 to $150.00 and gave the stock a “market perform” rating in a research report on Monday, January 18th. Royal Bank of Canada upped their price target on shares of JPMorgan Chase & Co. from $150.00 to $160.00 and gave the stock an “outperform” rating in a research report on Thursday, April 15th. Wells Fargo & Company upped their target price on shares of JPMorgan Chase & Co. from $185.00 to $190.00 and gave the company an “overweight” rating in a research report on Wednesday, April 14th. Finally, Credit Suisse Group upped their price target on JPMorgan Chase & Co. from $150.00 to $165.00 and gave the company an “outperform” rating in a research note on Monday, March 29th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $145.23.
JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results on Tuesday, April 13th. The financial services provider reported $4.50 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.10 by $1.40. JPMorgan Chase & Co. had a net margin of 19.16% and a return on equity of 10.85%. The firm had revenue of $32.30 billion for the quarter, compared to analyst estimates of $29.97 billion. During the same quarter last year, the firm posted $0.78 earnings per share. JPMorgan Chase & Co.’s revenue for the quarter was up 14.3% compared to the same quarter last year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, April 30th. Shareholders of record on Tuesday, April 6th will be issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 2.36%. The ex-dividend date of this dividend is Monday, April 5th. JPMorgan Chase & Co.’s dividend payout ratio is 34.35%.
In related news, insider Ashley Bacon sold 11,930 shares of the firm’s stock in a transaction on Thursday, April 15th. The stock was sold at an average price of $150.91, for a total value of $1,800,356.30. Also, CEO Douglas B. Petno sold 22,011 shares of JPMorgan Chase & Co. stock in a transaction dated Friday, January 29th. The shares were sold at an average price of $129.84, for a total value of $2,857,908.24. Insiders have sold a total of 83,141 shares of company stock valued at $12,082,545 in the last ninety days. Insiders own 0.78% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the business. Norges Bank bought a new stake in shares of JPMorgan Chase & Co. during the fourth quarter valued at approximately $3,501,714,000. Sanders Capital LLC increased its holdings in shares of JPMorgan Chase & Co. by 364.4% during the fourth quarter. Sanders Capital LLC now owns 12,191,489 shares of the financial services provider’s stock valued at $1,661,572,000 after acquiring an additional 9,566,427 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in JPMorgan Chase & Co. by 22.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 30,288,837 shares of the financial services provider’s stock valued at $3,848,803,000 after buying an additional 5,610,076 shares during the last quarter. Morgan Stanley increased its position in shares of JPMorgan Chase & Co. by 5.5% during the 4th quarter. Morgan Stanley now owns 39,207,003 shares of the financial services provider’s stock valued at $4,982,034,000 after purchasing an additional 2,044,249 shares during the last quarter. Finally, FMR LLC grew its stake in shares of JPMorgan Chase & Co. by 4.6% during the 4th quarter. FMR LLC now owns 38,458,423 shares of the financial services provider’s stock worth $4,886,911,000 after acquiring an additional 1,691,888 shares during the period. 69.02% of the stock is currently owned by hedge funds and other institutional investors.
JPMorgan Chase & Co. Company Profile
JPMorgan Chase & Co operates as a financial services company worldwide. It operates in four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit and investment products and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit card, auto loan, and leasing services.
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