JPMorgan Chase & Co. (NYSE:JPM) Shares Up 1% After Analyst Upgrade

Shares of JPMorgan Chase & Co. (NYSE:JPM) shot up 1% during mid-day trading on Tuesday after Barclays raised their price target on the stock from $217.00 to $257.00. Barclays currently has an overweight rating on the stock. JPMorgan Chase & Co. traded as high as $224.05 and last traded at $223.75. 2,334,144 shares traded hands during mid-day trading, a decline of 74% from the average session volume of 9,114,673 shares. The stock had previously closed at $221.48.

Several other equities research analysts have also commented on the company. Piper Sandler upped their target price on JPMorgan Chase & Co. from $220.00 to $230.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. StockNews.com raised shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research report on Saturday, July 13th. Keefe, Bruyette & Woods boosted their target price on shares of JPMorgan Chase & Co. from $209.00 to $211.00 and gave the company a “market perform” rating in a research report on Tuesday, July 9th. Jefferies Financial Group raised 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. Finally, Wells Fargo & Company upped their price objective on shares of JPMorgan Chase & Co. from $220.00 to $225.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Nine investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, JPMorgan Chase & Co. has a consensus rating of “Moderate Buy” and a consensus target price of $217.94.

Institutional Investors Weigh In On JPMorgan Chase & Co.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Occidental Asset Management LLC grew its holdings in shares of JPMorgan Chase & Co. by 6.2% in the third quarter. Occidental Asset Management LLC now owns 23,190 shares of the financial services provider’s stock valued at $4,890,000 after acquiring an additional 1,356 shares in the last quarter. Cliftonlarsonallen Wealth Advisors LLC bought a new position in JPMorgan Chase & Co. in the 3rd quarter valued at $2,487,000. Iams Wealth Management LLC increased its position in shares of JPMorgan Chase & Co. by 3.5% during the 3rd quarter. Iams Wealth Management LLC now owns 11,737 shares of the financial services provider’s stock valued at $2,475,000 after purchasing an additional 395 shares during the last quarter. Creative Planning raised its stake in shares of JPMorgan Chase & Co. by 3.1% during the 3rd quarter. Creative Planning now owns 1,139,115 shares of the financial services provider’s stock worth $240,194,000 after purchasing an additional 34,746 shares during the period. Finally, Sivia Capital Partners LLC boosted its holdings in shares of JPMorgan Chase & Co. by 2.9% in the 3rd quarter. Sivia Capital Partners LLC now owns 6,894 shares of the financial services provider’s stock worth $1,454,000 after buying an additional 194 shares during the last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Price Performance

The firm has a market cap of $642.54 billion, a PE ratio of 12.48, 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 moving average is $212.32 and its 200-day moving average is $203.88.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results on Friday, October 11th. The financial services provider reported $4.37 EPS for the quarter, topping analysts’ consensus estimates of $4.02 by $0.35. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.26%. The company had revenue of $43.32 billion for the quarter, compared to analysts’ expectations of $41.43 billion. During the same quarter in the previous year, the firm posted $4.33 EPS. JPMorgan Chase & Co.’s revenue was up 6.5% on a year-over-year basis. On average, research analysts predict that JPMorgan Chase & Co. will post 16.75 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 4th will be given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date is Friday, October 4th. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s dividend payout ratio is currently 27.89%.

About JPMorgan Chase & Co.

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.