JPMorgan Chase & Co. (NYSE:JPM) Sets New 1-Year High Following Analyst Upgrade

JPMorgan Chase & Co. (NYSE:JPM) shares reached a new 52-week high on Wednesday after Oppenheimer raised their price target on the stock from $232.00 to $241.00. Oppenheimer currently has an outperform rating on the stock. JPMorgan Chase & Co. traded as high as $242.30 and last traded at $241.73, with a volume of 1648536 shares traded. The stock had previously closed at $221.49.

Several other brokerages have also recently weighed in on JPM. Piper Sandler lifted their price objective on JPMorgan Chase & Co. from $220.00 to $230.00 and gave the company an “overweight” rating in a report on Monday, July 15th. BMO Capital Markets boosted their price target on JPMorgan Chase & Co. from $195.00 to $205.00 and gave the company a “market perform” rating in a research note on Thursday, July 11th. Barclays upped their price objective on shares of JPMorgan Chase & Co. from $217.00 to $257.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Wells Fargo & Company raised their target price on shares of JPMorgan Chase & Co. from $220.00 to $225.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Finally, Evercore ISI upped their price target on shares of JPMorgan Chase & Co. from $217.00 to $230.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Eight investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $223.38.

Hedge Funds Weigh In On JPMorgan Chase & Co.

Several institutional investors have recently added to or reduced their stakes in JPM. International Assets Investment Management LLC acquired a new position in JPMorgan Chase & Co. during the 3rd quarter valued at about $1,888,088,000. Swedbank AB bought a new position in JPMorgan Chase & Co. during the 1st quarter valued at $800,130,000. Capital Research Global Investors boosted its holdings in 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 acquiring an additional 3,252,451 shares during the last quarter. Wulff Hansen & CO. grew its stake in shares of JPMorgan Chase & Co. by 19,920.7% in the 2nd quarter. Wulff Hansen & CO. now owns 2,801,503 shares of the financial services provider’s stock worth $566,632,000 after acquiring an additional 2,787,510 shares in the last quarter. Finally, Granite Bay Wealth Management LLC raised its holdings in shares of JPMorgan Chase & Co. by 6,239.1% in the second 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 during the last quarter. 71.55% of the stock is owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Trading Up 11.5 %

The company has a debt-to-equity ratio of 1.27, a current ratio of 0.89 and a quick ratio of 0.89. The firm’s fifty day moving average is $216.71 and its two-hundred day moving average is $207.71. The firm has a market capitalization of $695.56 billion, a PE ratio of 13.75, a PEG ratio of 3.25 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.02 by $0.35. The company had revenue of $43.32 billion during the quarter, compared to analyst estimates of $41.43 billion. JPMorgan Chase & Co. had a return on equity of 16.71% and a net margin of 19.64%. JPMorgan Chase & Co.’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period in the prior year, the company posted $4.33 earnings per share. On average, equities analysts predict that JPMorgan Chase & Co. will post 17.52 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, October 4th were given a dividend of $1.25 per share. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date of this dividend was Friday, October 4th. JPMorgan Chase & Co.’s dividend payout ratio is currently 27.82%.

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.