JPMorgan Chase & Co. (NYSE:JPM) Releases Quarterly Earnings Results, Beats Expectations By $0.78 EPS

JPMorgan Chase & Co. (NYSE:JPM) released its earnings results on Wednesday. The financial services provider reported $4.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.03 by $0.78, Zacks reports. JPMorgan Chase & Co. had a return on equity of 16.71% and a net margin of 19.64%. The firm had revenue of $42.77 billion during the quarter, compared to analyst estimates of $41.90 billion. During the same period last year, the business posted $3.04 earnings per share. JPMorgan Chase & Co.’s revenue was up 10.9% compared to the same quarter last year.

JPMorgan Chase & Co. Stock Up 0.7 %

Shares of NYSE:JPM opened at $254.15 on Friday. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.89 and a quick ratio of 0.89. The stock has a market cap of $715.53 billion, a P/E ratio of 14.14, a P/E/G ratio of 3.16 and a beta of 1.11. JPMorgan Chase & Co. has a 1-year low of $165.24 and a 1-year high of $257.04. The firm has a fifty day moving average price of $242.70 and a 200 day moving average price of $223.72.

JPMorgan Chase & Co. Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, January 6th will be given a $1.25 dividend. The ex-dividend date is Monday, January 6th. This represents a $5.00 annualized dividend and a yield of 1.97%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 27.82%.

Analyst Ratings Changes

JPM has been the subject of several recent research reports. Wolfe Research upgraded JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 price objective for the company in a research note on Friday, January 3rd. Citigroup lifted their price target on shares of JPMorgan Chase & Co. from $215.00 to $250.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. Baird R W downgraded shares of JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 7th. Keefe, Bruyette & Woods lifted their price objective on shares of JPMorgan Chase & Co. from $257.00 to $264.00 and gave the stock a “market perform” rating in a research report on Thursday. Finally, Piper Sandler increased their target price on JPMorgan Chase & Co. from $240.00 to $275.00 and gave the company an “overweight” rating in a report on Tuesday, December 3rd. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $251.78.

Insider Activity

In related news, General Counsel Stacey Friedman sold 3,303 shares of the business’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $253.94, for a total value of $838,763.82. Following the transaction, the general counsel now owns 47,620 shares in the company, valued at $12,092,622.80. The trade was a 6.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.79% 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.