JPMorgan Chase & Co. (NYSE:JPM) Sets New 52-Week High – Still a Buy?

JPMorgan Chase & Co. (NYSE:JPM) shares reached a new 52-week high during trading on Friday . The company traded as high as $279.23 and last traded at $277.78, with a volume of 889835 shares changing hands. The stock had previously closed at $276.32.

Analysts Set New Price Targets

Several research analysts recently weighed in on JPM shares. 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 report on Friday, January 3rd. Robert W. Baird cut shares of JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 price target for the company. in a research report on Thursday, November 7th. Bank of America lifted their target price on JPMorgan Chase & Co. from $260.00 to $280.00 and gave the company a “buy” rating in a report on Tuesday, January 7th. Piper Sandler upped their price target on JPMorgan Chase & Co. from $240.00 to $275.00 and gave the stock an “overweight” rating in a report on Tuesday, December 3rd. Finally, Keefe, Bruyette & Woods lifted their price objective on JPMorgan Chase & Co. from $257.00 to $264.00 and gave the company a “market perform” rating in a research note on Thursday, January 16th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, JPMorgan Chase & Co. currently has an average rating of “Hold” and a consensus price target of $251.78.

JPMorgan Chase & Co. Price Performance

The firm has a market cap of $778.74 billion, a PE ratio of 14.01, a price-to-earnings-growth ratio of 2.94 and a beta of 1.12. The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.24. The company has a 50 day moving average price of $253.02 and a 200 day moving average price of $232.62.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $4.81 EPS for the quarter, topping the consensus estimate of $4.03 by $0.78. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The business had revenue of $42.77 billion for the quarter, compared to analyst estimates of $41.90 billion. During the same period in the previous year, the firm earned $3.04 EPS. The business’s revenue for the quarter was up 10.9% compared to the same quarter last year. On average, sell-side analysts expect that JPMorgan Chase & Co. will post 18.05 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Monday, January 6th were issued a $1.25 dividend. The ex-dividend date was Monday, January 6th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.81%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 25.33%.

Insiders Place Their Bets

In other JPMorgan Chase & Co. 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 transaction of $838,763.82. Following the completion of the sale, the general counsel now owns 47,620 shares of the company’s stock, valued at approximately $12,092,622.80. The trade was a 6.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.79% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On JPMorgan Chase & Co.

Several hedge funds have recently modified their holdings of the stock. Mizuho Securities Co. Ltd. purchased a new position in shares of JPMorgan Chase & Co. in the third quarter valued at $25,000. Catalyst Capital Advisors LLC bought a new stake in shares of JPMorgan Chase & Co. in the third quarter worth $27,000. Redwood Park Advisors LLC acquired a new position in JPMorgan Chase & Co. in the fourth quarter worth about $29,000. Sellwood Investment Partners LLC bought a new stake in shares of JPMorgan Chase & Co. in the 4th quarter valued at approximately $34,000. Finally, Investment Counsel Co. of Nevada acquired a new stake in shares of JPMorgan Chase & Co. during the 4th quarter valued at approximately $37,000. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

About JPMorgan Chase & Co.

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. The firm offers a range of investment banking products and services in all capital markets, including advising on corporate strategy and structure, capital raising in equity and debt markets, risk management, market making in cash securities and derivative instruments, and brokerage and research.