JPMorgan Chase & Co. (NYSE:JPM) Reaches New 1-Year High After Better-Than-Expected Earnings

JPMorgan Chase & Co. (NYSE:JPM)’s share price hit a new 52-week high on Thursday following a better than expected earnings announcement. The stock traded as high as $256.83 and last traded at $255.03, with a volume of 2020981 shares changing hands. The stock had previously closed at $252.35.

The financial services provider reported $4.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.03 by $0.78. JPMorgan Chase & Co. had a net margin of 19.64% and a return on equity of 16.71%. The business had revenue of $42.77 billion for the quarter, compared to analyst estimates of $41.90 billion. During the same period in the prior year, the firm earned $3.04 earnings per share. JPMorgan Chase & Co.’s revenue was up 10.9% on a year-over-year basis.

JPMorgan Chase & Co. Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, January 6th will be paid a $1.25 dividend. The ex-dividend date is Monday, January 6th. This represents a $5.00 annualized dividend and a dividend yield of 1.97%. JPMorgan Chase & Co.’s dividend payout ratio is presently 27.82%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Bank of America increased their price target on JPMorgan Chase & Co. from $260.00 to $280.00 and gave the stock a “buy” rating in a report on Tuesday, January 7th. Baird R W cut JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a report on Thursday, November 7th. Citigroup boosted their price target on shares of JPMorgan Chase & Co. from $215.00 to $250.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. Morgan Stanley lowered shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and raised their price objective for the company from $220.00 to $224.00 in a research note on Monday, September 30th. Finally, Wolfe Research raised shares of JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 target price for the company in a research report on Friday, January 3rd. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, JPMorgan Chase & Co. currently has a consensus rating of “Hold” and an average price target of $251.78.

Insider Activity

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 3,303 shares of the business’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $253.94, for a total value of $838,763.82. Following the transaction, the general counsel now owns 47,620 shares of the company’s stock, valued at approximately $12,092,622.80. The trade was a 6.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.79% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On JPMorgan Chase & Co.

Several large investors have recently made changes to their positions in JPM. Mizuho Securities Co. Ltd. bought a new position in JPMorgan Chase & Co. during the third quarter valued at about $25,000. Catalyst Capital Advisors LLC purchased a new position in JPMorgan Chase & Co. in the third quarter valued at about $27,000. Fairway Wealth LLC bought a new position in shares of JPMorgan Chase & Co. during the 2nd quarter valued at approximately $32,000. West Financial Advisors LLC bought a new position in shares of JPMorgan Chase & Co. during the 3rd quarter valued at approximately $37,000. Finally, New England Capital Financial Advisors LLC increased its stake in shares of JPMorgan Chase & Co. by 38.5% during the 3rd quarter. New England Capital Financial Advisors LLC now owns 180 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 50 shares during the last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Price Performance

The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.27. The business’s fifty day moving average is $242.70 and its 200 day moving average is $223.72. The company has a market cap of $715.53 billion, a P/E ratio of 14.14, a PEG ratio of 3.16 and a beta of 1.11.

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.