JPMorgan Chase & Co. (NYSE:JPM) Price Target Raised to $250.00 at Citigroup

JPMorgan Chase & Co. (NYSE:JPM) had its price target raised by Citigroup from $215.00 to $250.00 in a research report released on Tuesday morning,Benzinga reports. They currently have a neutral rating on the financial services provider’s stock.

A number of other research analysts have also issued reports on JPM. Wells Fargo & Company increased their target price on shares of JPMorgan Chase & Co. from $240.00 to $270.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $235.00 price objective on shares of JPMorgan Chase & Co. in a report on Tuesday, September 3rd. Evercore ISI boosted their target price on shares of JPMorgan Chase & Co. from $217.00 to $230.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Robert W. Baird lowered shares of JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 price target on the stock. in a research report on Thursday, November 7th. Finally, Barclays boosted their price objective on shares of JPMorgan Chase & Co. from $217.00 to $257.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $229.31.

JPMorgan Chase & Co. Stock Performance

NYSE:JPM opened at $248.56 on Tuesday. The stock has a 50 day simple moving average of $223.14 and a 200 day simple moving average of $211.76. The stock has a market cap of $699.78 billion, a P/E ratio of 13.83, a PEG ratio of 3.53 and a beta of 1.10. JPMorgan Chase & Co. has a 1-year low of $152.71 and a 1-year high of $249.15. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.27.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 in the previous year, the business posted $4.33 earnings per share. JPMorgan Chase & Co.’s quarterly revenue was up 6.5% on a year-over-year basis. Research analysts anticipate that JPMorgan Chase & Co. will post 17.62 earnings per share for the current 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 $1.25 dividend. The ex-dividend date was Friday, October 4th. This represents a $5.00 annualized dividend and a dividend yield of 2.01%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s dividend payout ratio is currently 27.82%.

Institutional Investors Weigh In On JPMorgan Chase & Co.

Hedge funds have recently added to or reduced their stakes in the business. Accredited Investors Inc. lifted its holdings in JPMorgan Chase & Co. by 4.9% during the 2nd quarter. Accredited Investors Inc. now owns 14,174 shares of the financial services provider’s stock worth $2,867,000 after buying an additional 667 shares during the period. Sunburst Financial Group LLC raised its position in shares of JPMorgan Chase & Co. by 5.0% during the second quarter. Sunburst Financial Group LLC now owns 5,651 shares of the financial services provider’s stock worth $1,143,000 after acquiring an additional 268 shares during the last quarter. Sageworth Trust Co lifted its stake in shares of JPMorgan Chase & Co. by 37.9% in the third quarter. Sageworth Trust Co now owns 2,860 shares of the financial services provider’s stock worth $603,000 after acquiring an additional 786 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in JPMorgan Chase & Co. by 16.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 692,809 shares of the financial services provider’s stock valued at $143,594,000 after acquiring an additional 95,461 shares during the last quarter. Finally, Czech National Bank increased its position in JPMorgan Chase & Co. by 7.6% during the 2nd quarter. Czech National Bank now owns 547,224 shares of the financial services provider’s stock valued at $110,682,000 after purchasing an additional 38,548 shares during the period. 71.55% of the stock is currently 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.