JPMorgan Chase & Co. (NYSE:JPM) Trading 0.1% Higher After Analyst Upgrade

JPMorgan Chase & Co. (NYSE:JPM) shares traded up 0.1% during trading on Tuesday after Piper Sandler raised their price target on the stock from $240.00 to $275.00. Piper Sandler currently has an overweight rating on the stock. JPMorgan Chase & Co. traded as high as $249.04 and last traded at $246.48. 1,755,900 shares were traded during mid-day trading, a decline of 81% from the average session volume of 9,022,476 shares. The stock had previously closed at $246.25.

A number of other research firms have also commented on JPM. Wells Fargo & Company raised their price target on JPMorgan Chase & Co. from $240.00 to $270.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Keefe, Bruyette & Woods lifted their target price on JPMorgan Chase & Co. from $216.00 to $254.00 and gave the company a “market perform” rating in a report on Tuesday. Robert W. Baird cut JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 price target on the stock. in a research report on Thursday, November 7th. Morgan Stanley lowered shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and raised their price objective for the company from $220.00 to $224.00 in a research report on Monday, September 30th. Finally, Daiwa Capital Markets decreased their target price on shares of JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating on the stock in a report on Thursday, October 10th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $234.81.

Hedge Funds Weigh In On JPMorgan Chase & Co.

Several institutional investors and hedge funds have recently made changes to their positions in the business. Financial Avengers Inc. boosted its position in shares of JPMorgan Chase & Co. by 5.2% during the third quarter. Financial Avengers Inc. now owns 868 shares of the financial services provider’s stock worth $183,000 after buying an additional 43 shares during the period. One Charles Private Wealth Services LLC boosted its position in JPMorgan Chase & Co. by 0.4% during the 3rd quarter. One Charles Private Wealth Services LLC now owns 12,179 shares of the financial services provider’s stock worth $2,568,000 after acquiring an additional 44 shares during the period. Henrickson Nauta Wealth Advisors Inc. grew its stake in shares of JPMorgan Chase & Co. by 1.3% in the third quarter. Henrickson Nauta Wealth Advisors Inc. now owns 3,436 shares of the financial services provider’s stock worth $725,000 after purchasing an additional 45 shares in the last quarter. Sunburst Financial Group LLC increased its holdings in shares of JPMorgan Chase & Co. by 0.8% during the third quarter. Sunburst Financial Group LLC now owns 5,696 shares of the financial services provider’s stock valued at $1,201,000 after purchasing an additional 45 shares during the period. Finally, West Wealth Group LLC increased its holdings in shares of JPMorgan Chase & Co. by 3.6% during the third quarter. West Wealth Group LLC now owns 1,327 shares of the financial services provider’s stock valued at $280,000 after purchasing an additional 46 shares during the period. Institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Trading Down 0.0 %

The firm has a market capitalization of $693.19 billion, a P/E ratio of 13.72, a PEG ratio of 3.62 and a beta of 1.11. The business’s 50 day moving average is $227.21 and its two-hundred day moving average is $213.78. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.27.

JPMorgan Chase & Co. (NYSE:JPM) last released 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. The company had revenue of $43.32 billion for the quarter, compared to the consensus estimate of $41.43 billion. JPMorgan Chase & Co. had a net margin of 19.64% and a return on equity of 16.71%. JPMorgan Chase & Co.’s revenue was up 6.5% on a year-over-year basis. During the same period in the previous year, the firm earned $4.33 EPS. Analysts expect that JPMorgan Chase & Co. will post 17.62 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, October 4th were paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date was Friday, October 4th. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s payout ratio is currently 27.82%.

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.