JPMorgan Chase & Co. (NYSE:JPM) Price Target Raised to $125.00 at Royal Bank of Canada

JPMorgan Chase & Co. (NYSE:JPM) had its target price increased by Royal Bank of Canada to $125.00 in a research note issued to investors on Wednesday morning, The Fly reports. They currently have an outperform rating on the financial services provider’s stock.

A number of other brokerages have also issued reports on JPM. Credit Suisse Group set a $135.00 target price on shares of JPMorgan Chase & Co. and gave the company a buy rating in a research note on Friday, October 11th. UBS Group lifted their price objective on JPMorgan Chase & Co. from $131.00 to $132.00 and gave the company a buy rating in a report on Wednesday. Morgan Stanley lifted their price objective on JPMorgan Chase & Co. from $122.00 to $124.00 and gave the company an overweight rating in a report on Wednesday. ValuEngine upgraded JPMorgan Chase & Co. from a sell rating to a hold rating in a report on Wednesday, September 4th. Finally, BMO Capital Markets lifted their price objective on JPMorgan Chase & Co. to $126.00 in a report on Wednesday. Thirteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of $121.94.

Shares of JPM opened at $120.56 on Wednesday. The firm has a market capitalization of $384.82 billion, a P/E ratio of 12.16, a P/E/G ratio of 1.70 and a beta of 1.20. JPMorgan Chase & Co. has a 12-month low of $91.11 and a 12-month high of $121.59. The company has a current ratio of 0.93, a quick ratio of 0.97 and a debt-to-equity ratio of 1.26. The firm has a fifty day moving average price of $115.81 and a 200-day moving average price of $112.10.

JPMorgan Chase & Co. (NYSE:JPM) last issued its earnings results on Tuesday, October 15th. The financial services provider reported $2.68 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.45 by $0.23. The firm had revenue of $29.34 billion during the quarter, compared to analyst estimates of $28.36 billion. JPMorgan Chase & Co. had a net margin of 24.70% and a return on equity of 14.63%. The business’s revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the firm earned $2.34 earnings per share. Analysts predict that JPMorgan Chase & Co. will post 10.17 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 4th will be issued a $0.90 dividend. The ex-dividend date of this dividend is Thursday, October 3rd. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $0.80. This represents a $3.60 dividend on an annualized basis and a yield of 2.99%. JPMorgan Chase & Co.’s payout ratio is currently 40.00%.

In other JPMorgan Chase & Co. news, CEO Gordon Smith sold 83,289 shares of the business’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $119.98, for a total value of $9,993,014.22. Following the completion of the transaction, the chief executive officer now directly owns 393,197 shares in the company, valued at $47,175,776.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mellody L. Hobson bought 18,200 shares of JPMorgan Chase & Co. stock in a transaction on Thursday, August 8th. The stock was purchased at an average price of $109.91 per share, with a total value of $2,000,362.00. Following the completion of the acquisition, the director now directly owns 7,804 shares of the company’s stock, valued at approximately $857,737.64. The disclosure for this purchase can be found here. Insiders own 0.76% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the business. Morgan Stanley raised its holdings in JPMorgan Chase & Co. by 5.8% in the second quarter. Morgan Stanley now owns 35,662,949 shares of the financial services provider’s stock worth $3,987,118,000 after purchasing an additional 1,952,873 shares in the last quarter. Invesco Ltd. increased its holdings in shares of JPMorgan Chase & Co. by 39.8% during the second quarter. Invesco Ltd. now owns 23,689,706 shares of the financial services provider’s stock valued at $2,648,509,000 after acquiring an additional 6,745,215 shares in the last quarter. Nuveen Asset Management LLC increased its holdings in shares of JPMorgan Chase & Co. by 2,432.9% during the second quarter. Nuveen Asset Management LLC now owns 23,689,599 shares of the financial services provider’s stock valued at $2,648,497,000 after acquiring an additional 22,754,332 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of JPMorgan Chase & Co. by 1.9% during the second quarter. Charles Schwab Investment Management Inc. now owns 15,021,076 shares of the financial services provider’s stock valued at $1,679,357,000 after acquiring an additional 275,854 shares in the last quarter. Finally, Parametric Portfolio Associates LLC increased its holdings in shares of JPMorgan Chase & Co. by 2.5% during the second quarter. Parametric Portfolio Associates LLC now owns 11,155,325 shares of the financial services provider’s stock valued at $1,247,165,000 after acquiring an additional 272,685 shares in the last quarter. Institutional investors and hedge funds own 71.94% 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 and investment products and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit card, payment processing, auto loan, and leasing services.

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