JPMorgan Chase & Co. (NYSE:JPM) Trading 4% Higher – Here’s What Happened

JPMorgan Chase & Co. (NYSE:JPM) shares were up 4% during mid-day trading on Friday . The stock traded as high as $324.25 and last traded at $322.47. Approximately 17,496,858 shares were traded during mid-day trading, an increase of 48% from the average daily volume of 11,801,016 shares. The stock had previously closed at $310.16.

More JPMorgan Chase & Co. News

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

Analyst Ratings Changes

A number of research analysts have weighed in on JPM shares. Loop Capital set a $310.00 price target on shares of JPMorgan Chase & Co. in a research note on Thursday, October 23rd. Robert W. Baird raised shares of JPMorgan Chase & Co. from an “underperform” rating to a “neutral” rating and set a $280.00 price objective on the stock in a research report on Tuesday, February 3rd. The Goldman Sachs Group upped their target price on shares of JPMorgan Chase & Co. from $386.00 to $397.00 and gave the stock a “buy” rating in a research note on Monday, January 26th. Wolfe Research downgraded JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 7th. Finally, CICC Research started coverage on shares of JPMorgan Chase & Co. in a report on Wednesday, January 14th. They set an “outperform” rating and a $355.00 target price for the company. Fourteen analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $340.18.

Check Out Our Latest Research Report on JPMorgan Chase & Co.

JPMorgan Chase & Co. Price Performance

The business has a fifty day moving average of $315.59 and a 200 day moving average of $307.15. The firm has a market cap of $877.85 billion, a P/E ratio of 16.12, a PEG ratio of 1.57 and a beta of 1.07. The company has a quick ratio of 0.86, a current ratio of 0.85 and a debt-to-equity ratio of 1.27.

JPMorgan Chase & Co. (NYSE:JPMGet Free Report) last released its quarterly earnings data on Tuesday, January 13th. The financial services provider reported $5.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.93 by $0.30. JPMorgan Chase & Co. had a return on equity of 17.16% and a net margin of 20.35%.The firm had revenue of $46.77 billion for the quarter, compared to analyst estimates of $45.98 billion. During the same quarter in the prior year, the company earned $4.81 earnings per share. The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. On average, sell-side analysts anticipate that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Saturday, January 31st. Shareholders of record on Tuesday, January 6th were given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date was Tuesday, January 6th. JPMorgan Chase & Co.’s dividend payout ratio is presently 29.99%.

Insiders Place Their Bets

In other news, COO Jennifer Piepszak sold 8,571 shares of JPMorgan Chase & Co. stock in a transaction on Friday, January 16th. The stock was sold at an average price of $312.79, for a total value of $2,680,923.09. Following the transaction, the chief operating officer owned 71,027 shares in the company, valued at approximately $22,216,535.33. This trade represents a 10.77% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Jeremy Barnum sold 2,893 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Friday, January 16th. The shares were sold at an average price of $312.79, for a total transaction of $904,901.47. Following the sale, the chief financial officer directly owned 26,696 shares in the company, valued at $8,350,241.84. This trade represents a 9.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 14,868 shares of company stock worth $4,650,596 in the last 90 days. Company insiders own 0.47% of the company’s stock.

Institutional Trading of JPMorgan Chase & Co.

Several institutional investors have recently modified their holdings of JPM. Harbor Asset Planning Inc. acquired a new position in JPMorgan Chase & Co. in the second quarter valued at approximately $26,000. Mizuho Securities Co. Ltd. increased its stake in shares of JPMorgan Chase & Co. by 450.0% in the 2nd quarter. Mizuho Securities Co. Ltd. now owns 110 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 90 shares in the last quarter. Mountain Hill Investment Partners Corp. acquired a new position in shares of JPMorgan Chase & Co. during the 3rd quarter valued at $32,000. Family Legacy Financial Solutions LLC boosted its stake in JPMorgan Chase & Co. by 92.6% during the third quarter. Family Legacy Financial Solutions LLC now owns 104 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 50 shares in the last quarter. Finally, Turning Point Benefit Group Inc. bought a new position in JPMorgan Chase & Co. during the third quarter worth $35,000. Institutional investors own 71.55% of the company’s stock.

About JPMorgan Chase & Co.

(Get Free Report)

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.

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