JPMorgan Chase & Co. (NYSE:JPM) Trading 0.3% Higher – Here’s What Happened

Shares of JPMorgan Chase & Co. (NYSE:JPM) shot up 0.3% during mid-day trading on Wednesday . The stock traded as high as $244.27 and last traded at $243.56. 1,725,590 shares were traded during trading, a decline of 81% from the average session volume of 8,972,266 shares. The stock had previously closed at $242.86.

Analyst Upgrades and Downgrades

Several research firms have recently commented on JPM. Daiwa Capital Markets decreased their price target on shares of JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating for the company in a report on Thursday, October 10th. Oppenheimer lowered shares of JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 20th. Piper Sandler lifted their target price on shares of JPMorgan Chase & Co. from $240.00 to $275.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 3rd. Royal Bank of Canada raised their price objective on JPMorgan Chase & Co. from $211.00 to $230.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Finally, Barclays upped their price target on shares of JPMorgan Chase & Co. from $217.00 to $257.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the company. According to MarketBeat, JPMorgan Chase & Co. presently has a consensus rating of “Hold” and a consensus price target of $234.81.

JPMorgan Chase & Co. Stock Down 0.7 %

The company has a debt-to-equity ratio of 1.27, a current ratio of 0.89 and a quick ratio of 0.89. The stock has a market cap of $675.51 billion, a price-to-earnings ratio of 13.35, a price-to-earnings-growth ratio of 3.54 and a beta of 1.11. The firm has a 50 day simple moving average of $233.51 and a two-hundred day simple moving average of $216.37.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share for the quarter, beating analysts’ consensus estimates of $4.02 by $0.35. The business 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 for the quarter was up 6.5% on a year-over-year basis. During the same period last year, the company posted $4.33 EPS. As a group, sell-side analysts expect that JPMorgan Chase & Co. will post 17.62 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, January 6th will be given a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date of this dividend is Monday, January 6th. JPMorgan Chase & Co.’s dividend payout ratio is currently 27.82%.

Hedge Funds Weigh In On JPMorgan Chase & Co.

Several institutional investors and hedge funds have recently modified their holdings of the business. Accredited Investors Inc. raised its holdings in shares of JPMorgan Chase & Co. by 4.9% during the second quarter. Accredited Investors Inc. now owns 14,174 shares of the financial services provider’s stock worth $2,867,000 after acquiring an additional 667 shares during the period. Sageworth Trust Co lifted its stake in JPMorgan Chase & Co. by 37.9% in the 3rd quarter. Sageworth Trust Co now owns 2,860 shares of the financial services provider’s stock valued at $603,000 after acquiring an additional 786 shares in the last quarter. Kingsview Wealth Management LLC grew its stake in shares of JPMorgan Chase & Co. by 2.5% during the 3rd quarter. Kingsview Wealth Management LLC now owns 118,095 shares of the financial services provider’s stock worth $24,902,000 after acquiring an additional 2,839 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of JPMorgan Chase & Co. by 16.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 692,809 shares of the financial services provider’s stock worth $143,594,000 after purchasing an additional 95,461 shares in the last quarter. Finally, Zions Bancorporation N.A. grew its position in JPMorgan Chase & Co. by 2.5% in the third quarter. Zions Bancorporation N.A. now owns 11,157 shares of the financial services provider’s stock valued at $2,353,000 after purchasing an additional 267 shares in the last quarter. 71.55% of the stock is currently owned by institutional investors and hedge funds.

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.