Q2 2024 EPS Estimates for JPMorgan Chase & Co. (NYSE:JPM) Raised by Analyst

JPMorgan Chase & Co. (NYSE:JPM) – Seaport Res Ptn boosted their Q2 2024 earnings estimates for shares of JPMorgan Chase & Co. in a research report issued to clients and investors on Tuesday, July 2nd. Seaport Res Ptn analyst J. Mitchell now forecasts that the financial services provider will post earnings per share of $4.21 for the quarter, up from their previous forecast of $4.01. The consensus estimate for JPMorgan Chase & Co.’s current full-year earnings is $16.45 per share. Seaport Res Ptn also issued estimates for JPMorgan Chase & Co.’s Q3 2024 earnings at $3.97 EPS, Q4 2024 earnings at $3.78 EPS and Q2 2025 earnings at $4.19 EPS.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings results on Friday, April 12th. The financial services provider reported $4.63 earnings per share for the quarter, topping the consensus estimate of $4.18 by $0.45. The business had revenue of $41.93 billion for the quarter, compared to analysts’ expectations of $40.90 billion. JPMorgan Chase & Co. had a net margin of 20.05% and a return on equity of 17.79%.

Several other analysts also recently commented on JPM. StockNews.com upgraded shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research report on Wednesday. Evercore ISI reiterated an “outperform” rating and issued a $210.00 price target on shares of JPMorgan Chase & Co. in a report on Wednesday. Piper Sandler lifted their price target on shares of JPMorgan Chase & Co. from $215.00 to $220.00 and gave the company an “overweight” rating in a report on Tuesday, May 21st. Wells Fargo & Company boosted their target price on shares of JPMorgan Chase & Co. from $200.00 to $220.00 and gave the stock an “overweight” rating in a report on Wednesday, March 20th. Finally, UBS Group boosted their target price on shares of JPMorgan Chase & Co. from $219.00 to $224.00 and gave the stock a “buy” rating in a report on Tuesday, May 21st. Nine investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $194.65.

JPMorgan Chase & Co. Trading Down 0.3 %

Shares of JPMorgan Chase & Co. stock opened at $208.29 on Thursday. The stock has a market capitalization of $598.14 billion, a PE ratio of 12.58, a P/E/G ratio of 2.72 and a beta of 1.12. JPMorgan Chase & Co. has a 1-year low of $135.19 and a 1-year high of $210.38. The company’s fifty day simple moving average is $197.57 and its 200-day simple moving average is $186.88. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.92 and a quick ratio of 0.92.

JPMorgan Chase & Co. Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, July 5th will be paid a dividend of $1.15 per share. The ex-dividend date is Friday, July 5th. This represents a $4.60 annualized dividend and a dividend yield of 2.21%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 27.78%.

Insider Buying and Selling

In related news, insider Elena A. Korablina sold 21,829 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $190.91, for a total transaction of $4,167,374.39. Following the completion of the transaction, the insider now owns 6,484 shares in the company, valued at approximately $1,237,860.44. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, insider Elena A. Korablina sold 21,829 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $190.91, for a total transaction of $4,167,374.39. Following the completion of the transaction, the insider now owns 6,484 shares in the company, valued at approximately $1,237,860.44. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO James Dimon sold 178,222 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $184.18, for a total transaction of $32,824,927.96. Following the transaction, the chief executive officer now owns 264,461 shares of the company’s stock, valued at approximately $48,708,426.98. 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 90 days. 0.79% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Beese Fulmer Investment Management Inc. increased its stake in JPMorgan Chase & Co. by 1.4% during the 2nd quarter. Beese Fulmer Investment Management Inc. now owns 92,135 shares of the financial services provider’s stock valued at $18,635,000 after purchasing an additional 1,235 shares in the last quarter. Moody National Bank Trust Division increased its stake in JPMorgan Chase & Co. by 4.4% during the 2nd quarter. Moody National Bank Trust Division now owns 34,337 shares of the financial services provider’s stock valued at $6,945,000 after purchasing an additional 1,456 shares in the last quarter. Hilltop Wealth Advisors LLC increased its stake in JPMorgan Chase & Co. by 11.2% during the 2nd quarter. Hilltop Wealth Advisors LLC now owns 1,165 shares of the financial services provider’s stock valued at $236,000 after purchasing an additional 117 shares in the last quarter. Modus Advisors LLC increased its stake in JPMorgan Chase & Co. by 1.1% during the 2nd quarter. Modus Advisors LLC now owns 26,409 shares of the financial services provider’s stock valued at $5,342,000 after purchasing an additional 297 shares in the last quarter. Finally, Marcum Wealth LLC increased its stake in JPMorgan Chase & Co. by 1.2% during the 2nd quarter. Marcum Wealth LLC now owns 34,611 shares of the financial services provider’s stock valued at $7,000,000 after purchasing an additional 403 shares in 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.