JPMorgan Chase & Co. (NYSE:JPM) Shares Up 1.6% – Here’s What Happened

JPMorgan Chase & Co. (NYSE:JPM) shares shot up 1.6% during trading on Friday . The company traded as high as $225.41 and last traded at $225.40. 1,260,606 shares changed hands during trading, a decline of 86% from the average session volume of 8,982,088 shares. The stock had previously closed at $221.92.

Wall Street Analyst Weigh In

A number of research firms have recently commented on JPM. Wells Fargo & Company boosted their price target on shares of JPMorgan Chase & Co. from $220.00 to $225.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $235.00 price objective on shares of JPMorgan Chase & Co. in a report on Tuesday, September 3rd. Evercore ISI lifted their price objective on shares of JPMorgan Chase & Co. from $217.00 to $230.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Citigroup lifted their price objective on shares of JPMorgan Chase & Co. from $205.00 to $215.00 and gave the stock a “neutral” rating in a report on Monday, July 15th. Finally, Morgan Stanley downgraded shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and lifted their price objective for the stock from $220.00 to $224.00 in a report on Monday, September 30th. Eight equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, JPMorgan Chase & Co. presently has an average rating of “Moderate Buy” and an average price target of $222.81.

JPMorgan Chase & Co. Trading Up 0.5 %

The stock has a market capitalization of $627.65 billion, a P/E ratio of 12.41, a P/E/G ratio of 3.28 and a beta of 1.10. The firm’s 50 day moving average price is $216.15 and its 200 day moving average price is $206.72. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.89 and a quick ratio of 0.91.

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 the consensus estimate of $4.02 by $0.35. The firm had revenue of $43.32 billion during the quarter, compared to the consensus estimate of $41.43 billion. JPMorgan Chase & Co. had a net margin of 19.64% and a return on equity of 16.71%. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.33 earnings per share. As a group, equities research analysts expect that JPMorgan Chase & Co. will post 17.52 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, October 4th were paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 2.24%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date was Friday, October 4th. JPMorgan Chase & Co.’s dividend payout ratio is 27.82%.

Hedge Funds Weigh In On JPMorgan Chase & Co.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Catalyst Capital Advisors LLC purchased a new position in shares of JPMorgan Chase & Co. during the third quarter valued at about $27,000. Retirement Group LLC grew its holdings in JPMorgan Chase & Co. by 227.1% in the first quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 109 shares during the period. Fairway Wealth LLC purchased a new stake in JPMorgan Chase & Co. in the second quarter worth about $32,000. Anfield Capital Management LLC purchased a new stake in JPMorgan Chase & Co. in the second quarter worth about $34,000. Finally, West Financial Advisors LLC purchased a new stake in shares of JPMorgan Chase & Co. during the third quarter valued at approximately $37,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

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.