JPMorgan Chase & Co. (NYSE:JPM) to Issue Quarterly Dividend of $1.25

JPMorgan Chase & Co. (NYSE:JPM) announced a quarterly dividend on Tuesday, September 17th, Wall Street Journal reports. Shareholders of record on Friday, October 4th will be paid a dividend of 1.25 per share by the financial services provider on Thursday, October 31st. This represents a $5.00 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date of this dividend is Friday, October 4th. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15.

JPMorgan Chase & Co. has increased its dividend payment by an average of 4.0% per year over the last three years and has raised its dividend annually for the last 14 consecutive years. JPMorgan Chase & Co. has a payout ratio of 29.4% meaning its dividend is sufficiently covered by earnings. Analysts expect JPMorgan Chase & Co. to earn $16.84 per share next year, which means the company should continue to be able to cover its $5.00 annual dividend with an expected future payout ratio of 29.7%.

JPMorgan Chase & Co. Trading Up 0.1 %

JPM stock opened at $207.24 on Thursday. JPMorgan Chase & Co. has a fifty-two week low of $135.19 and a fifty-two week high of $225.48. The firm has a market cap of $595.12 billion, a PE ratio of 11.56, a price-to-earnings-growth ratio of 2.39 and a beta of 1.12. The firm has a fifty day moving average price of $211.39 and a 200 day moving average price of $202.88. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.91 and a current ratio of 0.91.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data on Friday, July 12th. The financial services provider reported $6.12 earnings per share for the quarter, beating analysts’ consensus estimates of $4.19 by $1.93. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.26%. The business had revenue of $50.80 billion for the quarter, compared to analysts’ expectations of $42.23 billion. During the same quarter in the previous year, the business posted $4.37 earnings per share. Sell-side analysts anticipate that JPMorgan Chase & Co. will post 16.72 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have commented on JPM shares. BMO Capital Markets upped their price objective on JPMorgan Chase & Co. from $195.00 to $205.00 and gave the company a “market perform” rating in a research report on Thursday, July 11th. Jefferies Financial Group upped their price target on shares of JPMorgan Chase & Co. from $230.00 to $239.00 and gave the stock a “buy” rating in a report on Wednesday, July 3rd. Wolfe Research lowered shares of JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a report on Monday, July 8th. Morgan Stanley cut shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and boosted their price objective for the company from $220.00 to $224.00 in a research report on Monday. Finally, Keefe, Bruyette & Woods lifted their price target on shares of JPMorgan Chase & Co. from $209.00 to $211.00 and gave the company a “market perform” rating in a research note on Tuesday, July 9th. Nine investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, JPMorgan Chase & Co. presently has a consensus rating of “Moderate Buy” and an average target price of $212.13.

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.