JPMorgan Chase & Co. (NYSE:JPM) Upgraded to “Strong-Buy” at Zacks Research

Zacks Research upgraded shares of JPMorgan Chase & Co. (NYSE:JPM) from a hold rating to a strong-buy rating in a research report released on Thursday,Zacks.com reports.

JPM has been the topic of a number of other reports. Piper Sandler upped their price objective on JPMorgan Chase & Co. from $325.00 to $345.00 and gave the company an “overweight” rating in a report on Wednesday, April 15th. Argus raised their target price on JPMorgan Chase & Co. from $340.00 to $355.00 and gave the stock a “buy” rating in a research note on Wednesday, April 15th. Dbs Bank upgraded JPMorgan Chase & Co. to a “hold” rating in a research report on Tuesday, May 12th. Royal Bank Of Canada upped their price target on JPMorgan Chase & Co. from $330.00 to $370.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Autonomous Res lowered their price target 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. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $354.92.

JPMorgan Chase & Co. Stock Performance

JPMorgan Chase & Co. stock opened at $341.60 on Thursday. The firm has a 50 day simple moving average of $319.11 and a 200-day simple moving average of $310.31. JPMorgan Chase & Co. has a 1-year low of $279.10 and a 1-year high of $351.24. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.85 and a quick ratio of 0.86. The stock has a market cap of $915.33 billion, a price-to-earnings ratio of 14.64, a price-to-earnings-growth ratio of 1.54 and a beta of 0.99.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Tuesday, April 14th. The financial services provider reported $5.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.50 by $0.44. The business had revenue of $50.54 billion during the quarter, compared to the consensus estimate of $48.30 billion. JPMorgan Chase & Co. had a net margin of 21.86% and a return on equity of 18.23%. The business’s revenue was up 10.0% compared to the same quarter last year. During the same quarter last year, the firm earned $5.07 EPS. On average, analysts expect that JPMorgan Chase & Co. will post 23.24 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Monday, July 6th will be paid a $1.50 dividend. The ex-dividend date of this dividend is Monday, July 6th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.8%. JPMorgan Chase & Co.’s payout ratio is presently 25.71%.

Insider Activity

In related news, General Counsel Stacey Friedman sold 5,467 shares of the business’s stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $330.73, for a total value of $1,808,100.91. Following the sale, the general counsel owned 40,961 shares in the company, valued at approximately $13,547,031.53. The trade was a 11.78% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jennifer Piepszak sold 4,919 shares of the 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 transaction, the chief operating officer directly owned 85,082 shares in the company, valued at approximately $26,326,072.44. The trade was a 5.47% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 18,876 shares of company stock valued at $5,907,051. 0.41% of the stock is currently owned by corporate insiders.

Institutional Trading of JPMorgan Chase & Co.

Hedge funds have recently made changes to their positions in the business. Timmons Wealth Management LLC purchased a new position in JPMorgan Chase & Co. in the 4th quarter valued at approximately $27,000. MBM Wealth Consultants LLC purchased a new stake in shares of JPMorgan Chase & Co. during the first quarter worth $29,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of JPMorgan Chase & Co. during the fourth quarter worth $32,000. Osbon Capital Management LLC purchased a new position in JPMorgan Chase & Co. in the fourth quarter valued at $35,000. Finally, Turning Point Benefit Group Inc. purchased a new position in JPMorgan Chase & Co. in the third quarter valued at $35,000. Institutional investors and hedge funds own 71.55% of the company’s stock.

JPMorgan Chase & Co. News Roundup

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

• Positive Sentiment: JPMorgan’s blowout Q2 earnings are driving bullish sentiment, with the bank reporting record profits, 41% higher net income, strong trading and investment banking activity, and higher full-year net interest income guidance. JPMorgan Just Reported $21.2 Billion in Q2 Net Income — Up 41% — and CEO Jamie Dimon Said the Economy Is “Close to as Good as It Gets.”
• Positive Sentiment: Analysts have been raising expectations after the results, including multiple higher price targets and upgraded earnings forecasts, signaling confidence that JPMorgan can continue to outperform. JPMorgan Price Target Raised to $380 on Strong Q2 Results, Upgraded Outlook and Capital Strength
• Positive Sentiment: The stock is also benefiting from expectations that JPMorgan may raise its quarterly dividend by 10% after passing the Federal Reserve stress test, reinforcing the bank’s capital strength and shareholder-return story. JPM Stock Just Staged a Record Bull Run. 1 Analyst Thinks It Can Still Soar to $420.
• Neutral Sentiment: JPMorgan was added to several “Strong Buy” and momentum/income stock lists, which adds to positive sentiment but is less directly impactful than earnings or guidance. New Strong Buy Stocks for July 17th
• Neutral Sentiment: JPMorgan also drew attention for major financing activity and a $24 million Philadelphia shipbuilding investment, highlighting ongoing business expansion and capital deployment. JPMorgan Chase (JPM) Puts $24 Million Into Philadelphia Shipbuilding And Defense
• Negative Sentiment: Late-day sector weakness in financial stocks may be limiting JPMorgan’s upside even as company-specific fundamentals remain strong. Sector Update: Financial Stocks Decline Friday Afternoon

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.