JPMorgan Chase & Co. (NYSE:JPM) Expected to Post Q2 2024 Earnings of $4.01 Per Share

JPMorgan Chase & Co. (NYSE:JPM) – Seaport Res Ptn cut their Q2 2024 earnings per share estimates for JPMorgan Chase & Co. in a report issued on Monday, April 15th. Seaport Res Ptn analyst J. Mitchell now anticipates that the financial services provider will earn $4.01 per share for the quarter, down from their previous forecast of $4.14. The consensus estimate for JPMorgan Chase & Co.’s current full-year earnings is $15.91 per share. Seaport Res Ptn also issued estimates for JPMorgan Chase & Co.’s Q1 2025 earnings at $4.27 EPS.

Several other research analysts have also recently weighed in on the stock. Wells Fargo & Company upped their price target on shares of JPMorgan Chase & Co. from $200.00 to $220.00 and gave the stock an “overweight” rating in a report on Wednesday, March 20th. UBS Group cut their price target on shares of JPMorgan Chase & Co. from $226.00 to $219.00 and set a “buy” rating for the company in a research report on Tuesday. Morgan Stanley dropped their target price on shares of JPMorgan Chase & Co. from $221.00 to $216.00 and set an “overweight” rating for the company in a report on Monday. Jefferies Financial Group raised their price objective on shares of JPMorgan Chase & Co. from $202.00 to $228.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of JPMorgan Chase & Co. from $182.00 to $195.00 and gave the stock a “market perform” rating in a report on Friday, April 5th. Eight analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $192.05.

JPMorgan Chase & Co. Trading Up 0.6 %

NYSE:JPM opened at $181.14 on Wednesday. The company has a market cap of $520.25 billion, a P/E ratio of 10.94, a P/E/G ratio of 2.27 and a beta of 1.15. The stock’s fifty day moving average price is $188.61 and its two-hundred day moving average price is $168.59. JPMorgan Chase & Co. has a 1 year low of $131.81 and a 1 year high of $200.94. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.92 and a quick ratio of 0.91.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Cantor Fitzgerald Investment Advisor L.P lifted its stake in JPMorgan Chase & Co. by 81.1% in the 1st quarter. Cantor Fitzgerald Investment Advisor L.P now owns 222,422 shares of the financial services provider’s stock worth $30,321,000 after purchasing an additional 99,636 shares in the last quarter. BCK Partners Inc. purchased a new stake in JPMorgan Chase & Co. in the 1st quarter valued at about $2,455,000. LSV Asset Management boosted its position in JPMorgan Chase & Co. by 35.6% in the 1st quarter. LSV Asset Management now owns 37,300 shares of the financial services provider’s stock valued at $5,085,000 after buying an additional 9,800 shares during the period. Wsfs Capital Management LLC boosted its position in JPMorgan Chase & Co. by 70.8% in the 1st quarter. Wsfs Capital Management LLC now owns 4,221 shares of the financial services provider’s stock valued at $575,000 after buying an additional 1,749 shares during the period. Finally, Lumature Wealth Partners LLC boosted its stake in shares of JPMorgan Chase & Co. by 1,451.4% during the first quarter. Lumature Wealth Partners LLC now owns 3,770 shares of the financial services provider’s stock valued at $514,000 after purchasing an additional 3,527 shares in the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, CEO James Dimon sold 178,222 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $184.18, for a total value of $32,824,927.96. Following the completion of the sale, the chief executive officer now owns 264,461 shares of the company’s stock, valued at approximately $48,708,426.98. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CEO James Dimon sold 178,222 shares of JPMorgan Chase & Co. stock in a transaction on Monday, April 15th. The shares were sold at an average price of $184.18, for a total transaction of $32,824,927.96. Following the transaction, the chief executive officer now owns 264,461 shares in the company, valued at approximately $48,708,426.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Lori A. Beer sold 3,920 shares of JPMorgan Chase & Co. stock in a transaction on Monday, March 25th. The stock was sold at an average price of $195.36, for a total transaction of $765,811.20. Following the transaction, the insider now owns 64,783 shares in the company, valued at approximately $12,656,006.88. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,020,696 shares of company stock valued at $186,794,151. Company insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, April 5th will be given a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date is Thursday, April 4th. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.05. JPMorgan Chase & Co.’s payout ratio is 27.78%.

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.