JPMorgan Chase & Co. (NYSE:JPM) Reaches New 12-Month High – What’s Next?

JPMorgan Chase & Co. (NYSE:JPM)’s share price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $225.60 and last traded at $224.49, with a volume of 693783 shares. The stock had previously closed at $223.64.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on JPM. Oppenheimer cut their target price on shares of JPMorgan Chase & Co. from $234.00 to $232.00 and set an “outperform” rating for the company in a research note on Monday, October 14th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $235.00 target price on shares of JPMorgan Chase & Co. in a research note on Tuesday, September 3rd. Keefe, Bruyette & Woods lifted their target price on JPMorgan Chase & Co. from $209.00 to $211.00 and gave the stock a “market perform” rating in a research report on Tuesday, July 9th. Piper Sandler upped their price target on JPMorgan Chase & Co. from $220.00 to $230.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Finally, Wells Fargo & Company lifted their price objective on JPMorgan Chase & Co. from $220.00 to $225.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. Nine analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, JPMorgan Chase & Co. has an average rating of “Moderate Buy” and a consensus target price of $217.94.

JPMorgan Chase & Co. Trading Up 0.5 %

The firm has a market cap of $647.36 billion, a P/E ratio of 12.57, a price-to-earnings-growth ratio of 3.28 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. The company’s fifty day moving average price is $214.03 and its two-hundred day moving average price is $204.50.

JPMorgan Chase & Co. (NYSE:JPM) last issued 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 20.32% and a return on equity of 17.26%. The firm had revenue of $43.32 billion for the quarter, compared to analysts’ expectations of $41.43 billion. During the same period in the prior year, the firm earned $4.33 earnings per share. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. As a group, sell-side analysts predict that JPMorgan Chase & Co. will post 16.75 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, October 4th will be issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.22%. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date is Friday, October 4th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 27.89%.

Institutional Trading of JPMorgan Chase & Co.

Large investors have recently made changes to their positions in the business. Retirement Group LLC lifted its position in JPMorgan Chase & Co. by 227.1% during the 1st quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock worth $31,000 after buying an additional 109 shares in the last quarter. Fairway Wealth LLC bought a new stake in shares of JPMorgan Chase & Co. during the second quarter valued at approximately $32,000. Richardson Capital Management LLC acquired a new stake in shares of JPMorgan Chase & Co. in the first quarter valued at approximately $34,000. Anfield Capital Management LLC acquired a new stake in shares of JPMorgan Chase & Co. in the second quarter valued at approximately $34,000. Finally, West Financial Advisors LLC bought a new position in JPMorgan Chase & Co. in the 3rd quarter worth approximately $37,000. 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.