JPMorgan Chase & Co. (NYSE:JPM) Price Target Raised to $234.00

JPMorgan Chase & Co. (NYSE:JPM) had its price target boosted by Oppenheimer from $221.00 to $234.00 in a research note released on Wednesday, Benzinga reports. Oppenheimer currently has an outperform rating on the financial services provider’s stock.

A number of other analysts also recently issued reports on JPM. Morgan Stanley downgraded JPMorgan Chase & Co. from an overweight rating to an equal weight rating and lifted their price target for the stock from $220.00 to $224.00 in a report on Monday, September 30th. Barclays upped their price target on JPMorgan Chase & Co. from $212.00 to $217.00 and gave the company an overweight rating in a report on Monday, July 15th. Wolfe Research cut shares of JPMorgan Chase & Co. from an outperform rating to a peer perform rating in a report on Monday, July 8th. Evercore ISI upped their target price on shares of JPMorgan Chase & Co. from $210.00 to $211.00 and gave the company an outperform rating in a report on Monday, July 15th. Finally, Citigroup lifted their price target on shares of JPMorgan Chase & Co. from $205.00 to $215.00 and gave the stock a neutral rating in a research note on Monday, July 15th. Nine analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $212.13.

JPMorgan Chase & Co. Stock Up 2.9 %

JPM stock opened at $211.23 on Wednesday. The company’s 50 day moving average price is $211.30 and its 200 day moving average price is $203.03. The firm has a market capitalization of $606.57 billion, a price-to-earnings ratio of 11.78, a PEG ratio of 2.39 and a beta of 1.11. JPMorgan Chase & Co. has a fifty-two week low of $135.19 and a fifty-two week high of $225.48. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.91 and a current ratio of 0.91.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data on Friday, July 12th. The financial services provider reported $6.12 EPS 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 the consensus estimate of $42.23 billion. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.26%. During the same period in the prior year, the firm posted $4.37 EPS. On average, equities research analysts anticipate that JPMorgan Chase & Co. will post 16.72 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 4th will be given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.37%. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date is Friday, October 4th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 27.89%.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Per Stirling Capital Management LLC. raised its holdings in JPMorgan Chase & Co. by 7.9% during the fourth quarter. Per Stirling Capital Management LLC. now owns 3,907 shares of the financial services provider’s stock worth $665,000 after purchasing an additional 286 shares in the last quarter. Exencial Wealth Advisors LLC increased its position in JPMorgan Chase & Co. by 3.4% during the 4th quarter. Exencial Wealth Advisors LLC now owns 29,767 shares of the financial services provider’s stock worth $5,063,000 after purchasing an additional 978 shares during the period. Pinnacle West Asset Management Inc. increased its position in JPMorgan Chase & Co. by 6.3% during the 4th quarter. Pinnacle West Asset Management Inc. now owns 15,860 shares of the financial services provider’s stock worth $2,698,000 after purchasing an additional 945 shares during the period. Envestnet Asset Management Inc. raised its stake in shares of JPMorgan Chase & Co. by 5.4% during the 4th quarter. Envestnet Asset Management Inc. now owns 6,455,724 shares of the financial services provider’s stock worth $1,098,119,000 after buying an additional 333,322 shares in the last quarter. Finally, Morningstar Investment Services LLC lifted its holdings in shares of JPMorgan Chase & Co. by 97.8% in the 4th quarter. Morningstar Investment Services LLC now owns 1,214,819 shares of the financial services provider’s stock valued at $206,883,000 after buying an additional 600,580 shares during the period. Institutional investors and hedge funds own 71.55% of the company’s stock.

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.