Morgan Stanley Downgrades JPMorgan Chase & Co. (NYSE:JPM) to Equal Weight

Morgan Stanley cut shares of JPMorgan Chase & Co. (NYSE:JPM) from an overweight rating to an equal weight rating in a report issued on Monday, MarketBeat.com reports. Morgan Stanley currently has $224.00 target price on the financial services provider’s stock, up from their prior target price of $220.00.

Several other research analysts have also weighed in on the stock. Wolfe Research lowered shares of JPMorgan Chase & Co. from an outperform rating to a peer perform rating in a research note on Monday, July 8th. BMO Capital Markets upped their price target on shares of JPMorgan Chase & Co. from $195.00 to $205.00 and gave the stock a market perform rating in a research note on Thursday, July 11th. Citigroup lifted their price objective on JPMorgan Chase & Co. from $205.00 to $215.00 and gave the company a neutral rating in a research report on Monday, July 15th. Wells Fargo & Company upped their target price on JPMorgan Chase & Co. from $220.00 to $225.00 and gave the stock an overweight rating in a research report on Monday, July 15th. Finally, Piper Sandler raised their price target on JPMorgan Chase & Co. from $220.00 to $230.00 and gave the stock an overweight rating in a research note on Monday, July 15th. Nine investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $212.13.

JPMorgan Chase & Co. Stock Performance

NYSE:JPM opened at $205.17 on Monday. The company has a 50-day moving average of $211.32 and a 200-day moving average of $202.90. The firm has a market cap of $589.18 billion, a price-to-earnings ratio of 11.44, a price-to-earnings-growth ratio of 2.39 and a beta of 1.11. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 1.24. JPMorgan Chase & Co. has a twelve month low of $135.19 and a twelve month high of $225.48.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings results on Friday, July 12th. The financial services provider reported $6.12 earnings per share for the quarter, topping analysts’ consensus estimates of $4.19 by $1.93. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. The firm had revenue of $50.80 billion for the quarter, compared to analysts’ expectations of $42.23 billion. During the same quarter last year, the business posted $4.37 EPS. Analysts forecast that JPMorgan Chase & Co. will post 16.72 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 4th will be paid a $1.25 dividend. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date of this dividend is Friday, October 4th. This represents a $5.00 annualized dividend and a dividend yield of 2.44%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 27.89%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Wellington Wealth Strategies LLC. bought a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth approximately $1,145,000. Cooper Financial Group increased its position in shares of JPMorgan Chase & Co. by 12.8% in the first quarter. Cooper Financial Group now owns 8,693 shares of the financial services provider’s stock valued at $1,741,000 after acquiring an additional 984 shares during the last quarter. Spartan Planning & Wealth Management raised its holdings in JPMorgan Chase & Co. by 257.3% during the fourth quarter. Spartan Planning & Wealth Management now owns 3,780 shares of the financial services provider’s stock worth $643,000 after acquiring an additional 2,722 shares in the last quarter. jvl associates llc boosted its position in JPMorgan Chase & Co. by 59.8% during the first quarter. jvl associates llc now owns 1,911 shares of the financial services provider’s stock valued at $383,000 after purchasing an additional 715 shares during the last quarter. Finally, Rowlandmiller & PARTNERS.ADV grew its stake in JPMorgan Chase & Co. by 1.3% in the first quarter. Rowlandmiller & PARTNERS.ADV now owns 25,963 shares of the financial services provider’s stock valued at $5,201,000 after purchasing an additional 330 shares in the last quarter. 71.55% of the stock is owned by institutional investors and hedge funds.

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.