JPMorgan Chase & Co. (NYSE:JPM) Trading Up 1.3% Following Better-Than-Expected Earnings

Shares of JPMorgan Chase & Co. (NYSE:JPM) shot up 1.3% during mid-day trading on Wednesday following a better than expected earnings announcement. The company traded as high as $252.08 and last traded at $250.59. 7,063,310 shares traded hands during trading, a decline of 25% from the average session volume of 9,457,206 shares. The stock had previously closed at $247.47.

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 company posted $3.04 EPS. The company’s revenue for the quarter was up 10.9% on a year-over-year basis.

JPMorgan Chase & Co. Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, January 6th will be given a dividend of $1.25 per share. The ex-dividend date is Monday, January 6th. This represents a $5.00 annualized dividend and a dividend yield of 1.98%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 27.82%.

Wall Street Analyst Weigh In

JPM has been the subject of several research analyst reports. Wolfe Research upgraded shares of JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 price target for the company in a research report on Friday, January 3rd. Keefe, Bruyette & Woods upped their price target on shares of JPMorgan Chase & Co. from $216.00 to $254.00 and gave the stock a “market perform” rating in a research report on Tuesday, December 3rd. Daiwa Capital Markets reduced 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. Barclays upped their price target on shares of JPMorgan Chase & Co. from $257.00 to $304.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Finally, Piper Sandler upped their price target on shares of JPMorgan Chase & Co. from $240.00 to $275.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 3rd. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have given a buy rating to the company. According to MarketBeat, JPMorgan Chase & Co. currently has a consensus rating of “Hold” and a consensus target price of $245.83.

Institutional Trading of JPMorgan Chase & Co.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Eagle Capital Management LLC boosted its position in shares of 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 worth $4,423,000 after purchasing an additional 84 shares during the period. Fiera Capital Corp boosted its position in shares of JPMorgan Chase & Co. by 1.7% during the 2nd quarter. Fiera Capital Corp now owns 3,738 shares of the financial services provider’s stock worth $756,000 after purchasing an additional 63 shares during the period. PFG Advisors boosted its position in shares of JPMorgan Chase & Co. by 1.7% during the 2nd quarter. PFG Advisors now owns 37,494 shares of the financial services provider’s stock worth $7,584,000 after purchasing an additional 623 shares during the period. Wealthgarden F.S. LLC purchased a new position in shares of JPMorgan Chase & Co. during the 2nd quarter worth approximately $631,000. Finally, Lansing Street Advisors boosted its position in shares of JPMorgan Chase & Co. by 7.2% during the 2nd quarter. Lansing Street Advisors now owns 2,112 shares of the financial services provider’s stock worth $427,000 after purchasing an additional 142 shares during the period. Institutional investors and hedge funds own 71.55% of the company’s stock.

JPMorgan Chase & Co. Price Performance

The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.89 and a current ratio of 0.89. The stock has a market cap of $710.09 billion, a PE ratio of 14.04, a PEG ratio of 3.54 and a beta of 1.11. The stock’s 50-day moving average is $242.60 and its two-hundred day moving average is $223.51.

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.