JPMorgan Chase & Co. (NYSE:JPM) Trading 1.2% Higher – What’s Next?

JPMorgan Chase & Co. (NYSE:JPM) shares were up 1.2% during trading on Thursday . The company traded as high as $247.18 and last traded at $246.28. Approximately 1,478,392 shares were traded during trading, a decline of 84% from the average daily volume of 9,004,204 shares. The stock had previously closed at $243.40.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on JPM shares. Barclays lifted their target price on JPMorgan Chase & Co. from $217.00 to $257.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Daiwa Capital Markets decreased their price target on JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating on the stock in a research note on Thursday, October 10th. Baird R W lowered JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 7th. Oppenheimer lowered JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 20th. Finally, Keefe, Bruyette & Woods upped their target price on JPMorgan Chase & Co. from $216.00 to $254.00 and gave the company a “market perform” rating in a research note on Tuesday. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $234.81.

JPMorgan Chase & Co. Trading Up 0.8 %

The business’s 50-day moving average is $229.94 and its two-hundred day moving average is $214.79. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.27. The stock has a market capitalization of $696.35 billion, a PE ratio of 13.76, a PEG ratio of 3.53 and a beta of 1.11.

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, beating analysts’ consensus estimates of $4.02 by $0.35. The company had revenue of $43.32 billion during the quarter, compared to analysts’ expectations of $41.43 billion. JPMorgan Chase & Co. had a net margin of 19.64% and a return on equity of 16.71%. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period in the prior year, the company posted $4.33 EPS. On average, analysts predict that JPMorgan Chase & Co. will post 17.62 earnings per share for the current 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 dividend of $1.25 per share. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date was Friday, October 4th. This represents a $5.00 annualized dividend and a dividend yield of 2.02%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 27.82%.

Hedge Funds Weigh In On JPMorgan Chase & Co.

Several large investors have recently modified their holdings of the stock. International Assets Investment Management LLC acquired a new stake in JPMorgan Chase & Co. during the third quarter worth about $1,888,088,000. Fisher Asset Management LLC raised its stake in JPMorgan Chase & Co. by 31.7% during the third quarter. Fisher Asset Management LLC now owns 16,784,272 shares of the financial services provider’s stock worth $3,539,132,000 after acquiring an additional 4,043,841 shares during the period. Wulff Hansen & CO. raised its stake in JPMorgan Chase & Co. by 19,920.7% during the second quarter. Wulff Hansen & CO. now owns 2,801,503 shares of the financial services provider’s stock worth $566,632,000 after acquiring an additional 2,787,510 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its stake in JPMorgan Chase & Co. by 137.8% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,376,176 shares of the financial services provider’s stock worth $922,760,000 after acquiring an additional 2,535,590 shares during the period. Finally, Granite Bay Wealth Management LLC increased its stake in shares of JPMorgan Chase & Co. by 6,239.1% in the second quarter. Granite Bay Wealth Management LLC now owns 1,418,572 shares of the financial services provider’s stock valued at $277,456,000 after purchasing an additional 1,396,194 shares during the period. 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.