JPMorgan Chase & Co. (NYSE:JPM) Price Target Raised to $230.00

JPMorgan Chase & Co. (NYSE:JPM) had its target price boosted by Royal Bank of Canada from $211.00 to $230.00 in a research report sent to investors on Monday morning, Benzinga reports. The brokerage currently has an outperform rating on the financial services provider’s stock.

A number of other equities analysts have also recently issued reports on JPM. Piper Sandler upped their price target on shares of JPMorgan Chase & Co. from $220.00 to $230.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th. BMO Capital Markets upped their price target on shares of JPMorgan Chase & Co. from $195.00 to $205.00 and gave the stock a “market perform” rating in a research note on Thursday, July 11th. Wells Fargo & Company upped their price target on shares of JPMorgan Chase & Co. from $220.00 to $225.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th. Oppenheimer upped their price target on shares of JPMorgan Chase & Co. from $221.00 to $234.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 2nd. Finally, Keefe, Bruyette & Woods upped their price target on shares of JPMorgan Chase & Co. from $209.00 to $211.00 and gave the stock a “market perform” rating in a research note on Tuesday, July 9th. Nine research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, JPMorgan Chase & Co. has an average rating of “Moderate Buy” and an average target price of $217.94.

JPMorgan Chase & Co. Stock Up 0.6 %

NYSE:JPM opened at $223.64 on Monday. The firm’s 50-day moving average price is $213.22 and its 200-day moving average price is $204.17. The company has a market capitalization of $642.22 billion, a PE ratio of 12.47, 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. JPMorgan Chase & Co. has a 1-year low of $135.19 and a 1-year high of $225.48.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share for the quarter, topping analysts’ consensus estimates of $4.02 by $0.35. The firm 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 20.32% and a return on equity of 17.26%. The company’s revenue was up 6.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.33 EPS. On average, equities analysts predict that JPMorgan Chase & Co. will post 16.75 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, October 4th will be issued a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 2.24%. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date of this dividend is Friday, October 4th. JPMorgan Chase & Co.’s dividend payout ratio is currently 27.89%.

Institutional Investors Weigh In On JPMorgan Chase & Co.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in JPM. Swedbank AB purchased a new stake in JPMorgan Chase & Co. in the 1st quarter worth approximately $800,130,000. Capital Research Global Investors increased its holdings in JPMorgan Chase & Co. by 23.3% in the 1st quarter. Capital Research Global Investors now owns 17,200,124 shares of the financial services provider’s stock worth $3,445,185,000 after acquiring an additional 3,252,451 shares in the last quarter. Wulff Hansen & CO. increased its holdings in JPMorgan Chase & Co. by 19,920.7% in the 2nd quarter. Wulff Hansen & CO. now owns 2,801,503 shares of the financial services provider’s stock worth $566,632,000 after acquiring an additional 2,787,510 shares in the last quarter. Granite Bay Wealth Management LLC increased its holdings in JPMorgan Chase & Co. by 6,239.1% in the 2nd quarter. Granite Bay Wealth Management LLC now owns 1,418,572 shares of the financial services provider’s stock worth $277,456,000 after acquiring an additional 1,396,194 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in JPMorgan Chase & Co. by 4.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 22,696,963 shares of the financial services provider’s stock worth $4,590,412,000 after acquiring an additional 1,040,594 shares in the last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.

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.