JPMorgan Chase & Co. (NYSE:JPM) Shares Up 9.7% Following Analyst Upgrade

Shares of JPMorgan Chase & Co. (NYSE:JPM) rose 9.7% during mid-day trading 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 $243.40 and last traded at $243.06. Approximately 9,165,595 shares changed hands during trading, an increase of 2% from the average daily volume of 8,990,052 shares. The stock had previously closed at $221.49.

JPM has been the topic of several other reports. Morgan Stanley cut shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and boosted their price target for the stock from $220.00 to $224.00 in a research report on Monday, September 30th. BMO Capital Markets upped their target price on JPMorgan Chase & Co. from $195.00 to $205.00 and gave the stock a “market perform” rating in a report on Thursday, July 11th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $235.00 price target on shares of JPMorgan Chase & Co. in a research report on Tuesday, September 3rd. Citigroup boosted their price target on JPMorgan Chase & Co. from $205.00 to $215.00 and gave the stock a “neutral” rating in a research report on Monday, July 15th. Finally, Royal Bank of Canada increased their price objective on JPMorgan Chase & Co. from $211.00 to $230.00 and gave the company 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 data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $223.38.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Mechanics Financial Corp increased its position in JPMorgan Chase & Co. by 0.3% during the 3rd quarter. Mechanics Financial Corp now owns 24,123 shares of the financial services provider’s stock worth $5,087,000 after buying an additional 75 shares during the period. Accent Capital Management LLC increased its position in JPMorgan Chase & Co. by 84.4% during the third quarter. Accent Capital Management LLC now owns 14,861 shares of the financial services provider’s stock worth $3,134,000 after acquiring an additional 6,802 shares during the period. Adero Partners LLC raised its stake in JPMorgan Chase & Co. by 2.2% in the 3rd quarter. Adero Partners LLC now owns 18,806 shares of the financial services provider’s stock worth $3,965,000 after purchasing an additional 402 shares in the last quarter. Atlanta Consulting Group Advisors LLC boosted its holdings in JPMorgan Chase & Co. by 1.3% in the 3rd quarter. Atlanta Consulting Group Advisors LLC now owns 51,779 shares of the financial services provider’s stock valued at $10,918,000 after purchasing an additional 649 shares during the period. Finally, GoalVest Advisory LLC boosted its holdings in JPMorgan Chase & Co. by 4.1% in the 3rd quarter. GoalVest Advisory LLC now owns 14,207 shares of the financial services provider’s stock valued at $2,996,000 after purchasing an additional 554 shares during the period. 71.55% of the stock is owned by institutional investors.

JPMorgan Chase & Co. Stock Performance

The stock’s 50-day simple moving average is $216.71 and its 200-day simple moving average is $207.71. The stock has a market cap of $695.56 billion, a price-to-earnings ratio of 13.75, a price-to-earnings-growth ratio of 3.25 and a beta of 1.10. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.27.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data on Friday, October 11th. The financial services provider reported $4.37 EPS for the quarter, topping analysts’ consensus estimates of $4.02 by $0.35. The firm had revenue of $43.32 billion for 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%. The company’s revenue was up 6.5% on a year-over-year basis. During the same quarter last year, the company earned $4.33 EPS. Analysts forecast that JPMorgan Chase & Co. will post 17.52 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 4th were given a dividend of $1.25 per share. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date of this dividend was Friday, October 4th. This represents a $5.00 annualized dividend and a yield of 2.02%. 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.