JPMorgan Chase & Co. (NYSE:JPM) Stock Price Up 1.3% – Here’s What Happened

JPMorgan Chase & Co. (NYSE:JPM)’s share price was up 1.3% during mid-day trading on Monday . The company traded as high as $244.22 and last traded at $242.89. Approximately 3,038,162 shares traded hands during mid-day trading, a decline of 64% from the average daily volume of 8,411,582 shares. The stock had previously closed at $239.87.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Bank of America upped their price objective on shares of JPMorgan Chase & Co. from $260.00 to $280.00 and gave the company a “buy” rating in a research note on Tuesday, January 7th. Morgan Stanley lowered JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and upped their price target for the company from $220.00 to $224.00 in a research report on Monday, September 30th. Evercore ISI lifted their price objective on JPMorgan Chase & Co. from $217.00 to $230.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Citigroup upped their target price on JPMorgan Chase & Co. from $215.00 to $250.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th. Finally, Wolfe Research raised JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 price target for the company in a research note on Friday, January 3rd. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $245.83.

JPMorgan Chase & Co. Stock Performance

The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.89 and a current ratio of 0.89. The stock has a market capitalization of $684.10 billion, a P/E ratio of 13.52, a PEG ratio of 3.54 and a beta of 1.11. The business has a 50-day moving average price of $241.59 and a 200 day moving average price of $222.88.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Friday, October 11th. The financial services provider reported $4.37 EPS for the quarter, topping the consensus estimate of $4.02 by $0.35. JPMorgan Chase & Co. had a return on equity of 16.71% and a net margin of 19.64%. The business had revenue of $43.32 billion for the quarter, compared to the consensus estimate of $41.43 billion. During the same period in the previous year, the company posted $4.33 earnings per share. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. As a group, sell-side analysts forecast that JPMorgan Chase & Co. will post 17.62 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, January 6th will be paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date of this dividend is Monday, January 6th. JPMorgan Chase & Co.’s payout ratio is 27.82%.

Institutional Trading of JPMorgan Chase & Co.

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Mizuho Securities Co. Ltd. purchased a new stake in shares of JPMorgan Chase & Co. during the third quarter valued at $25,000. Catalyst Capital Advisors LLC purchased a new stake in shares of JPMorgan Chase & Co. during the 3rd quarter valued at about $27,000. Fairway Wealth LLC bought a new stake in shares of JPMorgan Chase & Co. in the second quarter worth approximately $32,000. West Financial Advisors LLC bought a new stake in shares of JPMorgan Chase & Co. in the third quarter worth approximately $37,000. Finally, New England Capital Financial Advisors LLC raised its holdings in shares of JPMorgan Chase & Co. by 38.5% during the third quarter. New England Capital Financial Advisors LLC now owns 180 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 50 shares during the last quarter. 71.55% of the stock is currently owned by institutional investors.

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.