JPMorgan Chase & Co. (JPM) To Go Ex-Dividend on October 4th

JPMorgan Chase & Co. (NYSE:JPM) announced a quarterly dividend on Tuesday, September 17th, Wall Street Journal reports. Stockholders of record on Friday, October 4th will be given a dividend of 1.25 per share by the financial services provider on Thursday, October 31st. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date of this dividend is Friday, October 4th. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15.

JPMorgan Chase & Co. has increased its dividend by an average of 4.0% annually over the last three years and has increased its dividend every year for the last 14 years. JPMorgan Chase & Co. has a dividend payout ratio of 29.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect JPMorgan Chase & Co. to earn $16.84 per share next year, which means the company should continue to be able to cover its $5.00 annual dividend with an expected future payout ratio of 29.7%.

JPMorgan Chase & Co. Trading Down 1.8 %

NYSE JPM opened at $207.04 on Wednesday. The stock’s 50-day simple moving average is $211.42 and its two-hundred day simple moving average is $202.85. JPMorgan Chase & Co. has a twelve month low of $135.19 and a twelve month high of $225.48. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 1.24. The company has a market capitalization of $594.55 billion, a price-to-earnings ratio of 11.55, a PEG ratio of 2.39 and a beta of 1.12.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data on Friday, July 12th. The financial services provider reported $6.12 earnings per share for the quarter, beating analysts’ consensus estimates of $4.19 by $1.93. The company had revenue of $50.80 billion for the quarter, compared to analysts’ expectations of $42.23 billion. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. During the same period last year, the firm posted $4.37 EPS. Research analysts forecast that JPMorgan Chase & Co. will post 16.72 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Oppenheimer boosted their price objective on shares of JPMorgan Chase & Co. from $215.00 to $221.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. Evercore ISI boosted their price target on shares of JPMorgan Chase & Co. from $210.00 to $211.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. Barclays raised their price objective on JPMorgan Chase & Co. from $212.00 to $217.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. Morgan Stanley lowered JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and boosted their target price for the company from $220.00 to $224.00 in a research note on Monday. Finally, Wolfe Research lowered JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a research report on Monday, July 8th. Nine research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $211.31.

JPMorgan Chase & Co. Company Profile

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.