Oppenheimer Boosts JPMorgan Chase & Co. (NYSE:JPM) Price Target to $241.00

JPMorgan Chase & Co. (NYSE:JPM) had its price target increased by Oppenheimer from $232.00 to $241.00 in a research note issued to investors on Tuesday,Benzinga reports. They currently have an outperform rating on the financial services provider’s stock.

A number of other equities research analysts have also recently weighed in on JPM. BMO Capital Markets raised their price target on JPMorgan Chase & Co. from $195.00 to $205.00 and gave the company a “market perform” rating in a report on Thursday, July 11th. Daiwa Capital Markets cut their price target on JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating for the company in a report on Thursday, October 10th. Barclays upped their price target on shares of JPMorgan Chase & Co. from $217.00 to $257.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Wolfe Research cut shares of JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a research report on Monday, July 8th. Finally, Piper Sandler boosted their target price on shares of JPMorgan Chase & Co. from $220.00 to $230.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $224.31.

JPMorgan Chase & Co. Trading Up 0.3 %

Shares of JPMorgan Chase & Co. stock opened at $237.06 on Tuesday. JPMorgan Chase & Co. has a 12-month low of $143.70 and a 12-month high of $248.00. The stock has a market capitalization of $667.40 billion, a P/E ratio of 13.19, a price-to-earnings-growth ratio of 3.21 and a beta of 1.10. The company has a 50-day simple moving average of $217.24 and a 200 day simple moving average of $208.24. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.27.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data on Friday, October 11th. The financial services provider reported $4.37 earnings per share 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 analyst estimates of $41.43 billion. During the same quarter last year, the business posted $4.33 earnings per share. The company’s revenue was up 6.5% on a year-over-year basis. 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 business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, October 4th were given a $1.25 dividend. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. This represents a $5.00 annualized dividend and a dividend yield of 2.11%. The ex-dividend date was Friday, October 4th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 27.82%.

Institutional Investors Weigh In On JPMorgan Chase & Co.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in JPM. Capital International Investors grew its holdings in shares of JPMorgan Chase & Co. by 1.9% in the 1st quarter. Capital International Investors now owns 42,294,992 shares of the financial services provider’s stock valued at $8,471,687,000 after buying an additional 778,297 shares during the period. Capital World Investors lifted its holdings in JPMorgan Chase & Co. by 0.4% during the first quarter. Capital World Investors now owns 34,422,011 shares of the financial services provider’s stock worth $6,894,729,000 after acquiring an additional 150,812 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in JPMorgan Chase & Co. by 4.8% in the second quarter. Dimensional Fund Advisors LP now owns 22,696,963 shares of the financial services provider’s stock valued at $4,590,412,000 after acquiring an additional 1,040,594 shares during the period. Capital Research Global Investors increased its holdings in shares of JPMorgan Chase & Co. by 23.3% in the first quarter. Capital Research Global Investors now owns 17,200,124 shares of the financial services provider’s stock worth $3,445,185,000 after acquiring an additional 3,252,451 shares in the last quarter. Finally, International Assets Investment Management LLC bought a new stake in shares of JPMorgan Chase & Co. in the third quarter worth about $1,888,088,000. 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.