JPMorgan Chase & Co. (NYSE:JPM) Trading Up 1.4% Following Analyst Upgrade

JPMorgan Chase & Co. (NYSE:JPM) shares were up 1.4% during trading on Friday after Wells Fargo & Company raised their price target on the stock from $240.00 to $270.00. Wells Fargo & Company currently has an overweight rating on the stock. JPMorgan Chase & Co. traded as high as $245.62 and last traded at $245.33. Approximately 2,817,263 shares changed hands during mid-day trading, a decline of 69% from the average daily volume of 9,071,965 shares. The stock had previously closed at $241.87.

Several other brokerages have also recently weighed in on JPM. Robert W. Baird cut JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 target price for the company. in a research note on Thursday, November 7th. Baird R W cut shares of JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a report on Thursday, November 7th. Evercore ISI raised their price objective on JPMorgan Chase & Co. from $217.00 to $230.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Daiwa Capital Markets decreased their target price on shares of JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating for the company in a report on Thursday, October 10th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $235.00 price objective on shares of JPMorgan Chase & Co. in a research note on Tuesday, September 3rd. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $227.13.

Hedge Funds Weigh In On JPMorgan Chase & Co.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC grew its stake in JPMorgan Chase & Co. by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 58,344,186 shares of the financial services provider’s stock valued at $12,258,346,000 after buying an additional 505,830 shares during the last quarter. Valued Retirements Inc. bought a new stake in JPMorgan Chase & Co. in the 3rd quarter valued at $272,000. Brophy Wealth Management LLC acquired a new stake in JPMorgan Chase & Co. in the 3rd quarter worth $3,231,000. High Falls Advisors Inc increased its holdings in shares of JPMorgan Chase & Co. by 4.5% during the 3rd quarter. High Falls Advisors Inc now owns 6,388 shares of the financial services provider’s stock worth $1,347,000 after purchasing an additional 277 shares during the period. Finally, Nabity Jensen Investment Management Inc acquired a new position in shares of JPMorgan Chase & Co. during the third quarter valued at about $1,457,000. Institutional investors and hedge funds own 71.55% of the company’s stock.

JPMorgan Chase & Co. Price Performance

The company has a market cap of $690.63 billion, a P/E ratio of 13.65, a P/E/G ratio of 3.50 and a beta of 1.10. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.89 and a current ratio of 0.89. The stock has a 50-day simple moving average of $219.50 and a 200 day simple moving average of $209.92.

JPMorgan Chase & Co. (NYSE:JPM) last issued its earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share for the quarter, beating 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 business had revenue of $43.32 billion for the quarter, compared to analyst estimates of $41.43 billion. During the same period in the previous year, the business earned $4.33 EPS. The firm’s revenue was up 6.5% on a year-over-year basis. On average, equities analysts expect that JPMorgan Chase & Co. will post 17.62 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, October 4th were issued a $1.25 dividend. The ex-dividend date of this dividend was Friday, October 4th. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.04%. JPMorgan Chase & Co.’s dividend payout ratio is presently 27.82%.

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.