Stock Traders Buy Large Volume of Put Options on JPMorgan Chase & Co. (JPM)
Shares of JPMorgan Chase & Co. (NYSE:JPM) was the recipient of some unusual options trading on Thursday. Investors purchased 29,360 put options on the stock, AnalystRatingsNetwork.com reports. This represents an increase of 133% compared to the typical volume of 12,587 put options.
Several analysts have recently commented on the stock. Analysts at Societe Generale initiated coverage on shares of JPMorgan Chase & Co. (NYSE:JPM) in a research note to investors on Thursday. They set a “hold” rating and a $56.00 price target on the stock. Separately, analysts at S&P Equity Research upgraded shares of JPMorgan Chase & Co. (NYSE:JPM) to a “strong-buy” rating in a research note to investors on Thursday. Finally, analysts at TheStreet reiterated a “buy” rating on shares of JPMorgan Chase & Co. (NYSE:JPM) in a research note to investors on Tuesday, September 3rd.
One investment analyst has rated the stock with a sell rating, eight have given a hold rating, twenty-three have issued a buy rating and two have issued a strong buy rating to the stock. JPMorgan Chase & Co. presently has a consensus rating of “Buy” and a consensus target price of $58.69.
JPMorgan Chase & Co. (NYSE:JPM) traded up 0.64% on Friday, hitting $53.09. 10,262,476 shares of the company’s stock traded hands. JPMorgan Chase & Co. has a 52-week low of $38.83 and a 52-week high of $56.93. The stock’s 50-day moving average is $53.0 and its 200-day moving average is $51.88. The company has a market cap of $200.1 billion and a P/E ratio of 8.82.
JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results on Friday, July 12th. The company reported $1.60 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.38 by $0.22. The company had revenue of $25.20 billion for the quarter, compared to the consensus estimate of $24.84 billion. During the same quarter last year, the company posted $1.21 earnings per share. JPMorgan Chase & Co.’s revenue was up 13.7% compared to the same quarter last year. On average, analysts predict that JPMorgan Chase & Co. will post $5.88 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, October 31st. Stockholders of record on Friday, October 4th will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 2.88%. The ex-dividend date is Wednesday, October 2nd.
JPMorgan Chase & Co (NYSE:JPM) is a financial holding company.
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