JPMorgan Chase & Co. (NYSE:JPM) Trading 0.8% Higher – Here’s Why

JPMorgan Chase & Co. (NYSE:JPM)’s share price traded up 0.8% on Monday . The stock traded as high as $224.75 and last traded at $224.15. 968,511 shares traded hands during trading, a decline of 89% from the average session volume of 9,017,053 shares. The stock had previously closed at $222.31.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $235.00 target price on shares of JPMorgan Chase & Co. in a research note on Tuesday, September 3rd. Evercore ISI upped their target price on shares of JPMorgan Chase & Co. from $217.00 to $230.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Jefferies Financial Group increased their target price on JPMorgan Chase & Co. from $230.00 to $239.00 and gave the company a “buy” rating in a research note on Wednesday, July 3rd. StockNews.com raised JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research report on Saturday, July 13th. Finally, Piper Sandler raised their price target on shares of JPMorgan Chase & Co. from $220.00 to $230.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Nine research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, JPMorgan Chase & Co. has an average rating of “Moderate Buy” and a consensus target price of $217.94.

JPMorgan Chase & Co. Trading Down 1.2 %

The stock has a fifty day simple moving average of $215.76 and a 200 day simple moving average of $206.02. The firm has a market capitalization of $634.19 billion, a P/E ratio of 12.40, a PEG ratio of 3.28 and a beta of 1.11. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 1.24.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results on Friday, October 11th. The financial services provider reported $4.37 EPS for the quarter, topping analysts’ consensus estimates of $4.02 by $0.35. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. The company had revenue of $43.32 billion for the quarter, compared to analysts’ expectations of $41.43 billion. During the same period in the previous year, the firm earned $4.33 EPS. The firm’s revenue was up 6.5% compared to the same quarter last year. As a group, research analysts forecast that JPMorgan Chase & Co. will post 16.75 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, October 4th will be given a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 2.24%. The ex-dividend date of this dividend is Friday, October 4th. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s payout ratio is currently 27.82%.

Hedge Funds Weigh In On JPMorgan Chase & Co.

A number of large investors have recently made changes to their positions in the company. Retirement Group LLC increased its position in shares of JPMorgan Chase & Co. by 227.1% during the first quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 109 shares during the period. Fairway Wealth LLC bought a new position in shares of JPMorgan Chase & Co. in the 2nd quarter worth $32,000. Richardson Capital Management LLC bought a new stake in shares of JPMorgan Chase & Co. in the 1st quarter valued at about $34,000. Anfield Capital Management LLC purchased a new stake in JPMorgan Chase & Co. during the second quarter valued at approximately $34,000. Finally, Davidson Capital Management Inc. purchased a new position in JPMorgan Chase & Co. in the first quarter worth $37,000. 71.55% of the stock is owned by hedge funds and other 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.