JPMorgan Chase & Co. (NYSE:JPM) to Issue Quarterly Dividend of $1.15

JPMorgan Chase & Co. (NYSE:JPM) announced a quarterly dividend on Monday, May 20th, RTT News reports. Stockholders of record on Friday, July 5th will be paid a dividend of 1.15 per share by the financial services provider on Wednesday, July 31st. This represents a $4.60 annualized dividend and a dividend yield of 2.21%. The ex-dividend date of this dividend is Friday, July 5th.

JPMorgan Chase & Co. has raised its dividend by an average of 4.0% annually over the last three years and has increased its dividend annually for the last 14 consecutive years. JPMorgan Chase & Co. has a payout ratio of 27.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect JPMorgan Chase & Co. to earn $16.47 per share next year, which means the company should continue to be able to cover its $4.60 annual dividend with an expected future payout ratio of 27.9%.

JPMorgan Chase & Co. Stock Down 0.3 %

JPMorgan Chase & Co. stock opened at $208.29 on Thursday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.29. The firm has a market cap of $598.14 billion, a P/E ratio of 12.58, a P/E/G ratio of 2.80 and a beta of 1.12. The business has a fifty day moving average of $197.57 and a two-hundred day moving average of $186.88. JPMorgan Chase & Co. has a twelve month low of $135.19 and a twelve month high of $210.38.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings data on Friday, April 12th. The financial services provider reported $4.63 earnings per share for the quarter, topping analysts’ consensus estimates of $4.18 by $0.45. JPMorgan Chase & Co. had a return on equity of 17.79% and a net margin of 20.05%. The firm had revenue of $41.93 billion during the quarter, compared to analysts’ expectations of $40.90 billion. On average, analysts forecast that JPMorgan Chase & Co. will post 16.45 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on JPM. Robert W. Baird raised their target price on shares of JPMorgan Chase & Co. from $175.00 to $185.00 and gave the company a “neutral” rating in a research note on Tuesday, May 21st. Wells Fargo & Company upped their target price on JPMorgan Chase & Co. from $200.00 to $220.00 and gave the company an “overweight” rating in a research report on Wednesday, March 20th. Piper Sandler raised their price target on JPMorgan Chase & Co. from $215.00 to $220.00 and gave the stock an “overweight” rating in a report on Tuesday, May 21st. Morgan Stanley cut their price objective on shares of JPMorgan Chase & Co. from $216.00 to $214.00 and set an “overweight” rating on the stock in a report on Tuesday, May 21st. Finally, BMO Capital Markets lowered their target price on shares of JPMorgan Chase & Co. from $196.00 to $195.00 and set a “market perform” rating for the company in a research note on Monday, April 15th. Nine equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, JPMorgan Chase & Co. presently has a consensus rating of “Moderate Buy” and an average target price of $194.65.

Insider Activity at JPMorgan Chase & Co.

In related news, General Counsel Stacey Friedman sold 4,415 shares of the firm’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $200.65, for a total transaction of $885,869.75. Following the sale, the general counsel now owns 42,124 shares in the company, valued at $8,452,180.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, General Counsel Stacey Friedman sold 4,415 shares of the firm’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $200.65, for a total transaction of $885,869.75. Following the completion of the sale, the general counsel now directly owns 42,124 shares in the company, valued at $8,452,180.60. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Ashley Bacon sold 5,086 shares of the stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $193.64, for a total transaction of $984,853.04. Following the completion of the sale, the insider now directly owns 217,351 shares of the company’s stock, valued at approximately $42,087,847.64. The disclosure for this sale can be found here. Insiders sold a total of 250,565 shares of company stock worth $46,962,717 in the last three months. Company insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Company Profile

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.