JPMorgan Chase & Co. (NYSE:JPM) Stock Price Up 1.6% – Here’s Why

JPMorgan Chase & Co. (NYSE:JPM) rose 1.6% during mid-day trading on Friday . The company traded as high as $237.26 and last traded at $236.73. Approximately 4,626,944 shares traded hands during trading, a decline of 49% from the average daily volume of 8,990,056 shares. The stock had previously closed at $232.96.

Analyst Ratings Changes

JPM has been the subject of a number of research reports. Robert W. Baird cut JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 target price for the company. in a research note on Thursday, November 7th. Daiwa Capital Markets lowered their target price on JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating for the company in a research note on Thursday, October 10th. Oppenheimer cut JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 20th. Wells Fargo & Company raised their price target on shares of JPMorgan Chase & Co. from $240.00 to $270.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $235.00 price target on shares of JPMorgan Chase & Co. in a research note on Tuesday, September 3rd. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, JPMorgan Chase & Co. currently has an average rating of “Hold” and an average price target of $234.81.

JPMorgan Chase & Co. Trading Up 2.0 %

The company has a market cap of $668.93 billion, a price-to-earnings ratio of 13.22, a P/E/G ratio of 3.54 and a beta of 1.11. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.89 and a current ratio of 0.89. The firm has a fifty day moving average price of $236.27 and a 200 day moving average price of $218.01.

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 (EPS) for the quarter, beating the consensus estimate of $4.02 by $0.35. JPMorgan Chase & Co. had a return on equity of 16.71% and a net margin of 19.64%. The business had revenue of $43.32 billion during the quarter, compared to the consensus estimate of $41.43 billion. During the same quarter last year, the firm posted $4.33 EPS. The company’s quarterly revenue was up 6.5% on a year-over-year basis. As a group, equities analysts predict that JPMorgan Chase & Co. will post 17.62 EPS for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, January 6th will be issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 2.10%. The ex-dividend date of this dividend is Monday, January 6th. JPMorgan Chase & Co.’s dividend payout ratio is 27.82%.

Institutional Investors Weigh In On JPMorgan Chase & Co.

Hedge funds have recently added to or reduced their stakes in the business. Mizuho Securities Co. Ltd. acquired a new stake in JPMorgan Chase & Co. during the 3rd quarter valued at $25,000. Catalyst Capital Advisors LLC acquired a new stake in shares of JPMorgan Chase & Co. during the third quarter worth $27,000. Fairway Wealth LLC acquired a new stake in shares of JPMorgan Chase & Co. during the second quarter worth $32,000. Anfield Capital Management LLC acquired a new stake in shares of JPMorgan Chase & Co. during the second quarter worth $34,000. Finally, West Financial Advisors LLC acquired a new stake in shares of JPMorgan Chase & Co. during the third quarter worth $37,000. Institutional investors and hedge funds own 71.55% of the company’s stock.

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.