JPMorgan Chase & Co. (NYSE:JPM) Shares Up 1.4% on Analyst Upgrade

JPMorgan Chase & Co. (NYSE:JPM) shares were up 1.4% during mid-day trading on Friday after Wells Fargo & Company raised their price target on the stock from $240.00 to $270.00. Wells Fargo & Company currently has an overweight rating on the stock. JPMorgan Chase & Co. traded as high as $245.62 and last traded at $245.33. Approximately 2,817,263 shares were traded during trading, a decline of 69% from the average daily volume of 9,071,965 shares. The stock had previously closed at $241.87.

Several other research firms have also recently issued reports on JPM. Baird R W cut JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a report on Thursday, November 7th. Royal Bank of Canada raised their price objective on JPMorgan Chase & Co. from $211.00 to $230.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Evercore ISI boosted their target price on shares of JPMorgan Chase & Co. from $217.00 to $230.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Oppenheimer increased their price target on JPMorgan Chase & Co. from $232.00 to $241.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $235.00 price objective on shares of JPMorgan Chase & Co. in a report on Tuesday, September 3rd. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, JPMorgan Chase & Co. presently has an average rating of “Hold” and an average target price of $227.13.

Hedge Funds Weigh In On JPMorgan Chase & Co.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Mizuho Securities Co. Ltd. acquired a new stake in shares of JPMorgan Chase & Co. in the third quarter valued at $25,000. Catalyst Capital Advisors LLC acquired a new position in JPMorgan Chase & Co. during the third quarter valued at $27,000. Fairway Wealth LLC purchased a new stake in shares of JPMorgan Chase & Co. in the second quarter worth approximately $32,000. Anfield Capital Management LLC purchased a new stake in JPMorgan Chase & Co. in the 2nd quarter worth approximately $34,000. Finally, West Financial Advisors LLC purchased a new stake in shares of JPMorgan Chase & Co. during the third quarter worth $37,000. 71.55% of the stock is owned by institutional investors.

JPMorgan Chase & Co. Trading Up 1.5 %

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 firm has a market capitalization of $690.86 billion, a price-to-earnings ratio of 13.62, a price-to-earnings-growth ratio of 3.50 and a beta of 1.10. The company has a fifty day moving average price of $218.84 and a 200-day moving average price of $209.56.

JPMorgan Chase & Co. (NYSE:JPM) last issued 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 business had revenue of $43.32 billion for the quarter, compared to analyst estimates of $41.43 billion. During the same quarter in the prior year, the firm posted $4.33 EPS. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. On average, equities research analysts predict that JPMorgan Chase & Co. will post 17.62 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm 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 represents a $5.00 annualized dividend and a dividend yield of 2.04%. The ex-dividend date of this dividend was Friday, October 4th. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s payout ratio is currently 27.82%.

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.