JPMorgan Chase & Co. (NYSE:JPM) Sees Large Volume Increase on Earnings Beat

JPMorgan Chase & Co. (NYSE:JPM) saw unusually-strong trading volume on Friday after the company announced better than expected quarterly earnings. Approximately 3,436,436 shares traded hands during mid-day trading, a decline of 62% from the previous session’s volume of 9,073,871 shares.The stock last traded at $220.08 and had previously closed at $212.84.

The financial services provider reported $4.37 earnings per share for the quarter, topping analysts’ consensus estimates of $4.06 by $0.31. The firm had revenue of $43.32 billion during the quarter, compared to analysts’ expectations of $41.43 billion. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.26%. JPMorgan Chase & Co.’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.33 EPS.

JPMorgan Chase & Co. Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 4th will be given a dividend of $1.25 per share. The ex-dividend date is Friday, October 4th. This represents a $5.00 dividend on an annualized basis and a yield of 2.24%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s dividend payout ratio is presently 27.89%.

Analyst Ratings Changes

JPM has been the subject of a number of analyst reports. BMO Capital Markets upped their price objective on shares of JPMorgan Chase & Co. from $195.00 to $205.00 and gave the stock a “market perform” rating in a research report on Thursday, July 11th. Evercore ISI increased their price target on shares of JPMorgan Chase & Co. from $210.00 to $211.00 and gave the company an “outperform” rating in a report on Monday, July 15th. Keefe, Bruyette & Woods increased 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 report on Tuesday, July 9th. Piper Sandler increased their price target on shares of JPMorgan Chase & Co. from $220.00 to $230.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Finally, Citigroup increased their price target on shares of JPMorgan Chase & Co. from $205.00 to $215.00 and gave the company a “neutral” rating in a report on Monday, July 15th. Nine analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $213.47.

Institutional Trading of JPMorgan Chase & Co.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Baird Financial Group Inc. boosted its holdings in JPMorgan Chase & Co. by 6.2% in the fourth quarter. Baird Financial Group Inc. now owns 5,607,169 shares of the financial services provider’s stock worth $953,779,000 after purchasing an additional 329,139 shares during the period. Bradley Foster & Sargent Inc. CT boosted its holdings in JPMorgan Chase & Co. by 0.6% in the fourth quarter. Bradley Foster & Sargent Inc. CT now owns 1,070,027 shares of the financial services provider’s stock worth $182,012,000 after purchasing an additional 6,403 shares during the period. Harbert Fund Advisors Inc. acquired a new position in JPMorgan Chase & Co. in the fourth quarter worth $1,301,000. Guardian Wealth Advisors LLC NC boosted its holdings in JPMorgan Chase & Co. by 1.3% in the fourth quarter. Guardian Wealth Advisors LLC NC now owns 24,024 shares of the financial services provider’s stock worth $4,087,000 after purchasing an additional 316 shares during the period. Finally, Groupama Asset Managment acquired a new position in JPMorgan Chase & Co. in the fourth quarter worth $79,912,000. Institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Trading Up 4.9 %

The stock has a market cap of $635.18 billion, a price-to-earnings ratio of 11.87, a P/E/G ratio of 3.28 and a beta of 1.11. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.91 and a quick ratio of 0.91. The business’s fifty day simple moving average is $211.32 and its 200 day simple moving average is $203.46.

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.