JPMorgan Chase & Co. (NYSE:JPM) Announces Earnings Results, Beats Estimates By $0.31 EPS

JPMorgan Chase & Co. (NYSE:JPM) released its earnings results on Friday. The financial services provider reported $4.37 EPS for the quarter, topping the consensus estimate of $4.06 by $0.31, RTT News reports. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. The firm had revenue of $43.32 billion during the quarter, compared to analysts’ expectations of $41.43 billion. During the same period in the previous year, the firm posted $4.33 EPS. JPMorgan Chase & Co.’s revenue for the quarter was up 6.5% on a year-over-year basis.

JPMorgan Chase & Co. Trading Up 4.4 %

Shares of JPMorgan Chase & Co. stock opened at $222.28 on Friday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.91 and a current ratio of 0.91. The company has a market capitalization of $632.42 billion, a P/E ratio of 12.40, a PEG ratio of 3.28 and a beta of 1.11. JPMorgan Chase & Co. has a 1 year low of $135.19 and a 1 year high of $225.48. The company’s fifty day moving average is $211.79 and its two-hundred day moving average is $203.65.

JPMorgan Chase & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, October 4th will be paid a dividend of $1.25 per share. The ex-dividend date is Friday, October 4th. This represents a $5.00 dividend on an annualized basis and a yield of 2.25%. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s dividend payout ratio is currently 27.89%.

Analysts Set New Price Targets

JPM has been the subject of several recent research reports. BMO Capital Markets lifted their price objective on JPMorgan Chase & Co. from $195.00 to $205.00 and gave the company a “market perform” rating in a research note on Thursday, July 11th. Wolfe Research downgraded shares of JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a research report on Monday, July 8th. Keefe, Bruyette & Woods lifted their price objective on shares of JPMorgan Chase & Co. from $209.00 to $211.00 and gave the stock a “market perform” rating in a research report on Tuesday, July 9th. Piper Sandler boosted their target price on shares of JPMorgan Chase & Co. from $220.00 to $230.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th. Finally, Wells Fargo & Company raised their price target on JPMorgan Chase & Co. from $220.00 to $225.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. Nine investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, JPMorgan Chase & Co. presently has an average rating of “Moderate Buy” and a consensus price target of $213.47.

About JPMorgan Chase & Co.

JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit, investment and lending products, cash management, and payments and services; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.