JPMorgan Chase & Co. (NYSE:JPM) Reaches New 52-Week High – Here’s Why

JPMorgan Chase & Co. (NYSE:JPM)’s stock price hit a new 52-week high during trading on Thursday . The stock traded as high as $280.25 and last traded at $279.30, with a volume of 7005213 shares changing hands. The stock had previously closed at $279.95.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. UBS Group upped their price target on shares of JPMorgan Chase & Co. from $276.00 to $287.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Wells Fargo & Company boosted their price objective on JPMorgan Chase & Co. from $240.00 to $270.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Bank of America boosted their price objective on JPMorgan Chase & Co. from $260.00 to $280.00 and gave the company a “buy” rating in a research report on Tuesday, January 7th. Wolfe Research raised JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 price objective for the company in a report on Friday, January 3rd. Finally, Barclays increased their price objective on JPMorgan Chase & Co. from $304.00 to $330.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $251.78.

JPMorgan Chase & Co. Stock Performance

The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.89 and a current ratio of 0.88. The company has a market capitalization of $786.31 billion, a P/E ratio of 14.15, a price-to-earnings-growth ratio of 2.93 and a beta of 1.12. The business has a 50 day moving average of $255.13 and a 200-day moving average of $234.26.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.03 by $0.78. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. The firm had revenue of $42.77 billion during the quarter, compared to analysts’ expectations of $41.90 billion. During the same period in the prior year, the business earned $3.04 EPS. The company’s revenue for the quarter was up 10.9% compared to the same quarter last year. On average, sell-side analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Monday, January 6th were issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 1.79%. The ex-dividend date of this dividend was Monday, January 6th. JPMorgan Chase & Co.’s dividend payout ratio is presently 25.33%.

Insider Activity at JPMorgan Chase & Co.

In related news, General Counsel Stacey Friedman sold 3,303 shares of JPMorgan Chase & Co. 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 completion of the sale, the general counsel now directly owns 47,620 shares in the company, valued at approximately $12,092,622.80. This trade represents a 6.49 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.79% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On JPMorgan Chase & Co.

Large investors have recently made changes to their positions in the company. Mizuho Securities Co. Ltd. purchased a new position in JPMorgan Chase & Co. in the 3rd quarter worth approximately $25,000. Redwood Park Advisors LLC purchased a new stake in shares of JPMorgan Chase & Co. during the 4th quarter worth approximately $29,000. Catalyst Capital Advisors LLC purchased a new stake in shares of JPMorgan Chase & Co. during the 3rd quarter worth approximately $27,000. Sellwood Investment Partners LLC purchased a new stake in shares of JPMorgan Chase & Co. during the 4th quarter worth approximately $34,000. Finally, Investment Counsel Co. of Nevada purchased a new stake in shares of JPMorgan Chase & Co. during the 4th quarter worth approximately $37,000. 71.55% of the stock is currently owned by institutional investors.

JPMorgan Chase & Co. Company Profile

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.