JPMorgan Chase & Co. (NYSE:JPM) Trading Up 1.4% Following Analyst Upgrade

JPMorgan Chase & Co. (NYSE:JPM) shares rose 1.4% during mid-day trading on Tuesday after Bank of America raised their price target on the stock from $260.00 to $280.00. Bank of America currently has a buy rating on the stock. JPMorgan Chase & Co. traded as high as $244.25 and last traded at $244.19. Approximately 2,321,961 shares were traded during trading, a decline of 70% from the average daily volume of 7,626,502 shares. The stock had previously closed at $240.85.

A number of other brokerages also recently issued reports on JPM. Truist Financial began coverage on JPMorgan Chase & Co. in a report on Tuesday. They issued a “hold” rating and a $260.00 price target on the stock. Daiwa Capital Markets decreased their price target on shares of JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating for the company in a research report on Thursday, October 10th. Wells Fargo & Company lifted their price objective on shares of JPMorgan Chase & Co. from $240.00 to $270.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Citigroup increased their target price on shares of JPMorgan Chase & Co. from $215.00 to $250.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. Finally, Morgan Stanley downgraded JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and upped their price target for the stock from $220.00 to $224.00 in a research report on Monday, September 30th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $245.83.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in JPM. Eagle Capital Management LLC grew its stake in JPMorgan Chase & Co. by 0.4% during the 2nd quarter. Eagle Capital Management LLC now owns 21,867 shares of the financial services provider’s stock valued at $4,423,000 after acquiring an additional 84 shares in the last quarter. Fiera Capital Corp grew its holdings in JPMorgan Chase & Co. by 1.7% in the 2nd quarter. Fiera Capital Corp now owns 3,738 shares of the financial services provider’s stock valued at $756,000 after buying an additional 63 shares in the last quarter. Vawter Financial Ltd. grew its holdings in JPMorgan Chase & Co. by 30.5% in the 2nd quarter. Vawter Financial Ltd. now owns 3,550 shares of the financial services provider’s stock valued at $718,000 after buying an additional 829 shares in the last quarter. Foundations Investment Advisors LLC boosted its position in shares of JPMorgan Chase & Co. by 6.7% during the 2nd quarter. Foundations Investment Advisors LLC now owns 95,156 shares of the financial services provider’s stock valued at $19,246,000 after acquiring an additional 5,946 shares during the last quarter. Finally, Wealth Effects LLC grew its holdings in shares of JPMorgan Chase & Co. by 1.0% in the second quarter. Wealth Effects LLC now owns 30,788 shares of the financial services provider’s stock valued at $6,227,000 after purchasing an additional 311 shares during the period. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Up 1.0 %

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 company has a market capitalization of $684.58 billion, a PE ratio of 13.53, a P/E/G ratio of 3.54 and a beta of 1.11. The business’s 50 day simple moving average is $240.46 and its 200 day simple moving average is $221.95.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings data on Friday, October 11th. The financial services provider reported $4.37 EPS for the quarter, beating analysts’ consensus estimates of $4.02 by $0.35. JPMorgan Chase & Co. had a return on equity of 16.71% and a net margin of 19.64%. The firm had revenue of $43.32 billion for the quarter, compared to analysts’ expectations of $41.43 billion. During the same period in the prior year, the firm posted $4.33 earnings per share. The firm’s quarterly revenue was up 6.5% on a year-over-year basis. As a group, analysts anticipate that JPMorgan Chase & Co. will post 17.62 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, January 6th will be given a $1.25 dividend. The ex-dividend date of this dividend is Monday, January 6th. This represents a $5.00 dividend on an annualized basis and a yield of 2.06%. JPMorgan Chase & Co.’s 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.