JPMorgan Chase & Co. (NYSE:JPM) Trading 1.6% Higher – Here’s Why

JPMorgan Chase & Co. (NYSE:JPM)’s stock price shot up 1.6% during mid-day trading on Thursday . The stock traded as high as $236.36 and last traded at $234.15. 2,661,192 shares changed hands during trading, a decline of 70% from the average session volume of 8,970,560 shares. The stock had previously closed at $230.37.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on JPM shares. Keefe, Bruyette & Woods raised their target price on 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. Royal Bank of Canada raised their price objective on shares of JPMorgan Chase & Co. from $211.00 to $230.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Morgan Stanley cut shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and upped their target price for the company from $220.00 to $224.00 in a report on Monday, September 30th. Citigroup lifted their price target on shares of JPMorgan Chase & Co. from $215.00 to $250.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. Finally, Robert W. Baird downgraded shares of JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 price objective for the company. in a research note on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, JPMorgan Chase & Co. has an average rating of “Hold” and an average price target of $234.81.

JPMorgan Chase & Co. Price Performance

The company has a 50 day moving average price of $235.56 and a 200 day moving average price of $217.52. 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 firm has a market cap of $657.41 billion, a PE ratio of 12.99, a PEG ratio of 3.54 and a beta of 1.11.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Friday, October 11th. The financial services provider reported $4.37 EPS for the quarter, topping the consensus estimate of $4.02 by $0.35. JPMorgan Chase & Co. had a net margin of 19.64% and a return on equity of 16.71%. The company had revenue of $43.32 billion during the quarter, compared to analysts’ expectations of $41.43 billion. During the same quarter last year, the business earned $4.33 EPS. The business’s revenue was up 6.5% on a year-over-year basis. Sell-side analysts expect that JPMorgan Chase & Co. will post 17.62 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The firm 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 dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 2.14%. The ex-dividend date of this dividend is Monday, January 6th. JPMorgan Chase & Co.’s payout ratio is 27.82%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Mizuho Securities Co. Ltd. purchased a new position in JPMorgan Chase & Co. in the third quarter valued at about $25,000. Catalyst Capital Advisors LLC acquired a new stake in shares of JPMorgan Chase & Co. in the 3rd quarter worth approximately $27,000. Fairway Wealth LLC purchased a new position in JPMorgan Chase & Co. in the 2nd quarter valued at approximately $32,000. Anfield Capital Management LLC acquired a new position in JPMorgan Chase & Co. during the second quarter worth $34,000. Finally, West Financial Advisors LLC purchased a new stake in JPMorgan Chase & Co. during the third quarter worth $37,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

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.