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

JPMorgan Chase & Co. (NYSE:JPM) shares hit a new 52-week high on Monday . The company traded as high as $251.00 and last traded at $251.00, with a volume of 14157 shares. The stock had previously closed at $248.55.

Analyst Upgrades and Downgrades

A number of brokerages have commented on JPM. Oppenheimer downgraded JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 20th. Baird R W lowered JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a report on Thursday, November 7th. Evercore ISI increased their price objective on shares of JPMorgan Chase & Co. from $217.00 to $230.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Robert W. Baird cut shares of JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 price objective for the company. in a research note on Thursday, November 7th. Finally, Royal Bank of Canada increased their price objective on shares of JPMorgan Chase & Co. from $211.00 to $230.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $229.31.

JPMorgan Chase & Co. Price Performance

The stock has a market cap of $704.29 billion, a P/E ratio of 13.83, a PEG ratio of 3.61 and a beta of 1.10. The company has a 50 day simple moving average of $223.14 and a 200 day simple moving average of $212.01. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.27.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data on Friday, October 11th. The financial services provider reported $4.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.02 by $0.35. The company had revenue of $43.32 billion for the quarter, compared to analysts’ expectations of $41.43 billion. JPMorgan Chase & Co. had a return on equity of 16.71% and a net margin of 19.64%. The business’s revenue was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.33 EPS. Sell-side analysts forecast that JPMorgan Chase & Co. will post 17.62 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, October 4th were given a $1.25 dividend. The ex-dividend date was Friday, October 4th. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. This represents a $5.00 annualized dividend and a dividend yield of 2.00%. JPMorgan Chase & Co.’s payout ratio is presently 27.82%.

Institutional Trading of JPMorgan Chase & Co.

Large investors have recently made changes to their positions in the company. Accredited Investors Inc. raised its position in JPMorgan Chase & Co. by 4.9% during the second quarter. Accredited Investors Inc. now owns 14,174 shares of the financial services provider’s stock valued at $2,867,000 after purchasing an additional 667 shares in the last quarter. Sunburst Financial Group LLC raised its position in JPMorgan Chase & Co. by 5.0% during the second quarter. Sunburst Financial Group LLC now owns 5,651 shares of the financial services provider’s stock valued at $1,143,000 after purchasing an additional 268 shares in the last quarter. Sageworth Trust Co raised its position in JPMorgan Chase & Co. by 37.9% during the third quarter. Sageworth Trust Co now owns 2,860 shares of the financial services provider’s stock valued at $603,000 after purchasing an additional 786 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in JPMorgan Chase & Co. by 16.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 692,809 shares of the financial services provider’s stock valued at $143,594,000 after purchasing an additional 95,461 shares in the last quarter. Finally, Czech National Bank grew its stake in shares of JPMorgan Chase & Co. by 7.6% during the second quarter. Czech National Bank now owns 547,224 shares of the financial services provider’s stock worth $110,682,000 after buying an additional 38,548 shares during the last quarter. 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.