JPMorgan Chase & Co. (NYSE:JPM) Price Target Raised to $241.00

JPMorgan Chase & Co. (NYSE:JPM) had its price objective hoisted by Oppenheimer from $232.00 to $241.00 in a research report released on Tuesday,Benzinga reports. Oppenheimer currently has an outperform rating on the financial services provider’s stock.

Several other research analysts also recently issued reports on the company. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $235.00 price objective on shares of JPMorgan Chase & Co. in a research note on Tuesday, September 3rd. StockNews.com raised shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research report on Saturday, July 13th. Barclays increased their target price on JPMorgan Chase & Co. from $217.00 to $257.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Morgan Stanley cut JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and increased their target price for the stock from $220.00 to $224.00 in a report on Monday, September 30th. Finally, Evercore ISI raised their price objective on JPMorgan Chase & Co. from $217.00 to $230.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $224.31.

JPMorgan Chase & Co. Stock Up 0.9 %

JPM stock traded up $2.16 during mid-day trading on Tuesday, reaching $238.54. The company had a trading volume of 3,308,498 shares, compared to its average volume of 9,066,557. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.89 and a quick ratio of 0.89. JPMorgan Chase & Co. has a 52 week low of $143.70 and a 52 week high of $248.00. The stock has a 50 day simple moving average of $216.71 and a two-hundred day simple moving average of $207.71. The company has a market capitalization of $671.57 billion, a price-to-earnings ratio of 13.25, a PEG ratio of 3.21 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share for the quarter, topping the consensus estimate of $4.02 by $0.35. The business had revenue of $43.32 billion during the quarter, compared to analysts’ expectations of $41.43 billion. JPMorgan Chase & Co. had a return on equity of 16.71% and a net margin of 19.64%. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period last year, the firm posted $4.33 EPS. As a group, equities analysts predict that JPMorgan Chase & Co. will post 17.52 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, October 4th were paid a dividend of $1.25 per share. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date was Friday, October 4th. This represents a $5.00 annualized dividend and a dividend yield of 2.10%. JPMorgan Chase & Co.’s payout ratio is 27.82%.

Institutional Investors Weigh In On JPMorgan Chase & Co.

Several institutional investors have recently modified their holdings of JPM. Mizuho Securities Co. Ltd. acquired a new position in JPMorgan Chase & Co. in the 3rd quarter valued at $25,000. Catalyst Capital Advisors LLC acquired a new position in JPMorgan Chase & Co. in the 3rd quarter valued at $27,000. Retirement Group LLC raised its holdings in JPMorgan Chase & Co. by 227.1% in the 1st quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 109 shares during the last quarter. Fairway Wealth LLC acquired a new position in JPMorgan Chase & Co. in the 2nd quarter valued at $32,000. Finally, Anfield Capital Management LLC acquired a new position in JPMorgan Chase & Co. in the 2nd quarter valued at $34,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

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.