JPMorgan Chase & Co. (NYSE:JPM) Trading Up 0.4% on Analyst Upgrade

JPMorgan Chase & Co. (NYSE:JPM) shot up 0.4% on Wednesday after Oppenheimer raised their price target on the stock from $221.00 to $234.00. Oppenheimer currently has an outperform rating on the stock. JPMorgan Chase & Co. traded as high as $208.95 and last traded at $207.88. 1,503,914 shares were traded during mid-day trading, a decline of 84% from the average session volume of 9,128,670 shares. The stock had previously closed at $207.04.

A number of other analysts also recently issued reports on the company. Wolfe Research downgraded JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a report on Monday, July 8th. Keefe, Bruyette & Woods upped their price objective on JPMorgan Chase & Co. from $209.00 to $211.00 and gave the stock a “market perform” rating in a research report on Tuesday, July 9th. Piper Sandler upped their target price on JPMorgan Chase & Co. from $220.00 to $230.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. Morgan Stanley cut JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and upped their target price for the company from $220.00 to $224.00 in a research report on Monday. Finally, StockNews.com raised JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research report on Saturday, July 13th. Nine analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, JPMorgan Chase & Co. currently has an average rating of “Moderate Buy” and an average price target of $212.13.

Hedge Funds Weigh In On JPMorgan Chase & Co.

A number of large investors have recently modified their holdings of JPM. Swedbank AB purchased a new position in shares of JPMorgan Chase & Co. during the 1st quarter worth approximately $800,130,000. Capital Research Global Investors raised its stake in shares of JPMorgan Chase & Co. by 23.3% during the 1st quarter. Capital Research Global Investors now owns 17,200,124 shares of the financial services provider’s stock worth $3,445,185,000 after buying an additional 3,252,451 shares in the last quarter. Wulff Hansen & CO. raised its stake in shares of JPMorgan Chase & Co. by 19,920.7% during the 2nd quarter. Wulff Hansen & CO. now owns 2,801,503 shares of the financial services provider’s stock worth $566,632,000 after buying an additional 2,787,510 shares in the last quarter. Public Employees Retirement Association of Colorado raised its stake in shares of JPMorgan Chase & Co. by 3,836.2% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 1,518,969 shares of the financial services provider’s stock worth $258,377,000 after buying an additional 1,480,379 shares in the last quarter. Finally, Granite Bay Wealth Management LLC increased its stake in JPMorgan Chase & Co. by 6,239.1% in the 2nd quarter. Granite Bay Wealth Management LLC now owns 1,418,572 shares of the financial services provider’s stock valued at $277,456,000 after purchasing an additional 1,396,194 shares in the last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Stock Up 0.4 %

The stock has a market capitalization of $596.96 billion, a PE ratio of 11.59, a P/E/G ratio of 2.39 and a beta of 1.12. The firm has a 50 day moving average of $211.42 and a two-hundred day moving average of $202.85. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 1.24.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings data on Friday, July 12th. The financial services provider reported $6.12 earnings per share for the quarter, beating the consensus estimate of $4.19 by $1.93. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. The firm had revenue of $50.80 billion during the quarter, compared to the consensus estimate of $42.23 billion. During the same period last year, the business posted $4.37 EPS. Equities research analysts anticipate that JPMorgan Chase & Co. will post 16.72 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, October 4th will be paid a $1.25 dividend. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. This represents a $5.00 annualized dividend and a yield of 2.41%. The ex-dividend date is Friday, October 4th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 27.89%.

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.