JPMorgan Chase & Co. (NYSE:JPM) Announces Earnings Results

JPMorgan Chase & Co. (NYSE:JPM) posted its quarterly earnings data on Wednesday. The financial services provider reported $3.74 EPS for the quarter, beating the Zacks’ consensus estimate of $3.00 by $0.74, MarketWatch Earnings reports. The business had revenue of $29.60 billion during the quarter, compared to analysts’ expectations of $29.63 billion. JPMorgan Chase & Co. had a return on equity of 19.26% and a net margin of 37.71%. The business’s revenue was down 1.0% compared to the same quarter last year. During the same period in the previous year, the business earned $2.92 earnings per share.

JPM stock opened at $161.00 on Thursday. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.85 and a quick ratio of 0.85. The firm has a market capitalization of $481.09 billion, a P/E ratio of 10.74, a P/E/G ratio of 2.24 and a beta of 1.20. The business’s 50-day moving average is $160.59 and its two-hundred day moving average is $157.52. JPMorgan Chase & Co. has a 1 year low of $95.24 and a 1 year high of $171.51.

The business also recently declared a quarterly dividend, which will be paid on Sunday, October 31st. Shareholders of record on Wednesday, October 6th will be given a $1.00 dividend. The ex-dividend date is Tuesday, October 5th. This represents a $4.00 dividend on an annualized basis and a yield of 2.48%. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $0.90. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 45.05%.

A number of analysts have recently commented on the company. Zacks Investment Research upgraded JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and set a $175.00 price objective for the company in a research report on Tuesday, September 28th. Jefferies Financial Group boosted their price target on JPMorgan Chase & Co. from $177.00 to $198.00 and gave the stock a “buy” rating in a research report on Monday. Morgan Stanley boosted their price target on JPMorgan Chase & Co. from $150.00 to $166.00 and gave the stock an “underweight” rating in a research report on Thursday, July 29th. Credit Suisse Group set a $177.00 price target on JPMorgan Chase & Co. in a research report on Thursday. Finally, BMO Capital Markets boosted their price target on JPMorgan Chase & Co. from $136.00 to $141.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 14th. One analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $169.35.

A hedge fund recently raised its stake in JPMorgan Chase & Co. stock. Morgan Stanley grew its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 1.4% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 38,288,577 shares of the financial services provider’s stock after acquiring an additional 510,298 shares during the quarter. JPMorgan Chase & Co. comprises 0.8% of Morgan Stanley’s investment portfolio, making the stock its 13th biggest holding. Morgan Stanley owned about 1.28% of JPMorgan Chase & Co. worth $5,955,407,000 as of its most recent SEC filing. 69.67% of the stock is owned by hedge funds and other institutional investors.

About JPMorgan Chase & Co.

JPMorgan Chase & Co is a financial holding company. It provides financial and investment banking services. The firm offers a range of investment banking products and services in all capital markets, including advising on corporate strategy and structure, capital raising in equity and debt markets, risk management, market making in cash securities and derivative instruments, and brokerage and research.

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Earnings History for JPMorgan Chase & Co. (NYSE:JPM)

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