JPMorgan Chase & Co. (jpm) to Issue $0.48 Quarterly Dividend
JPMorgan Chase & Co. (NYSE:jpm) announced a quarterly dividend on Tuesday, September 20th. Stockholders of record on Thursday, October 6th will be paid a dividend of 0.48 per share by the financial services provider on Monday, October 31st. This represents a $1.92 annualized dividend and a dividend yield of 2.89%. The ex-dividend date is Tuesday, October 4th.
A number of research firms have weighed in on JPM. Vetr upgraded JPMorgan Chase & Co. from a “strong sell” rating to a “sell” rating and set a $57.51 price target on the stock in a research note on Tuesday, July 5th. Berenberg Bank initiated coverage on JPMorgan Chase & Co. in a report on Wednesday, July 13th. They set a “sell” rating on the stock. KeyCorp reissued a “buy” rating on shares of JPMorgan Chase & Co. in a report on Tuesday, July 12th. Citigroup Inc. lowered JPMorgan Chase & Co. from a “buy” rating to a “neutral” rating and set a $65.00 price target on the stock. in a report on Monday, August 8th. They noted that the move was a valuation call. Finally, Deutsche Bank AG restated a “buy” rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, June 15th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and twenty-one have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $71.34.
In other JPMorgan Chase & Co. news, insider Ashley Bacon sold 15,521 shares of the company’s stock in a transaction on Friday, July 15th. The shares were sold at an average price of $63.97, for a total value of $992,878.37. Following the transaction, the insider now directly owns 14,938 shares in the company, valued at $955,583.86. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Matthew E. Zames sold 3,991 shares of the company’s stock in a transaction on Friday, July 15th. The shares were sold at an average price of $63.91, for a total transaction of $255,064.81. Following the completion of the transaction, the chief operating officer now owns 282,287 shares in the company, valued at $18,040,962.17. The disclosure for this sale can be found here. Corporate insiders own 0.85% of the company’s stock.
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Several institutional investors have recently added to or reduced their stakes in the stock. Cornerstone Capital Inc. increased its position in JPMorgan Chase & Co. by 1.1% in the second quarter. Cornerstone Capital Inc. now owns 3,777 shares of the financial services provider’s stock valued at $235,000 after buying an additional 42 shares during the period. Annex Advisory Services LLC boosted its position in JPMorgan Chase & Co. by 0.9% in the second quarter. Annex Advisory Services LLC now owns 10,510 shares of the financial services provider’s stock worth $653,000 after buying an additional 90 shares during the period. White Pine Capital LLC boosted its position in JPMorgan Chase & Co. by 0.7% in the second quarter. White Pine Capital LLC now owns 14,102 shares of the financial services provider’s stock worth $876,000 after buying an additional 100 shares during the period. Camelot Portfolios LLC boosted its position in JPMorgan Chase & Co. by 2.7% in the second quarter. Camelot Portfolios LLC now owns 4,160 shares of the financial services provider’s stock worth $259,000 after buying an additional 109 shares during the period. Finally, Valley National Advisers Inc. boosted its position in JPMorgan Chase & Co. by 3.5% in the second quarter. Valley National Advisers Inc. now owns 3,234 shares of the financial services provider’s stock worth $201,000 after buying an additional 110 shares during the period. Hedge funds and other institutional investors own 73.34% of the company’s stock.
Shares of JPMorgan Chase & Co. (NYSE:JPM) opened at 66.46 on Wednesday. The stock has a market cap of $240.02 billion, a P/E ratio of 11.26 and a beta of 1.65. The firm has a 50-day moving average of $66.18 and a 200-day moving average of $63.10. JPMorgan Chase & Co. has a 52-week low of $52.50 and a 52-week high of $69.03.
JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data on Thursday, July 14th. The financial services provider reported $1.55 EPS for the quarter, topping the Zacks’ consensus estimate of $1.43 by $0.12. The business had revenue of $24.40 billion for the quarter, compared to analyst estimates of $23.84 billion. JPMorgan Chase & Co. had a net margin of 24.47% and a return on equity of 10.20%. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.54 earnings per share. On average, equities analysts expect that JPMorgan Chase & Co. will post $5.65 EPS for the current fiscal year.
About JPMorgan Chase & Co.
JPMorgan Chase & Co is a financial holding company. The Company is engaged in investment banking, financial services. It operates in four segments, as well as a Corporate segment. Its segments are Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking and Asset Management. The Consumer & Community Banking segment serves consumers and businesses through personal service at bank branches and through automatic teller machines, online, mobile and telephone banking.
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