JPMorgan Chase & Co. (JPM) Announces Earnings Results
JPMorgan Chase & Co. (NYSE:JPM) announced its quarterly earnings data on Friday. The financial services provider reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.19. The business had revenue of $25.50 billion for the quarter, compared to analysts’ expectations of $23.99 billion. JPMorgan Chase & Co. had a return on equity of 10.20% and a net margin of 24.47%.
Shares of JPMorgan Chase & Co. (NYSE:JPM) opened at 67.74 on Friday. The firm has a 50-day moving average of $66.99 and a 200 day moving average of $63.95. JPMorgan Chase & Co. has a 1-year low of $52.50 and a 1-year high of $69.06. The stock has a market capitalization of $244.64 billion, a PE ratio of 11.48 and a beta of 1.54.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 31st. Shareholders of record on Thursday, October 6th will be paid a $0.48 dividend. The ex-dividend date is Tuesday, October 4th. This represents a $1.92 annualized dividend and a yield of 2.83%. JPMorgan Chase & Co.’s payout ratio is currently 32.54%.
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JPM has been the topic of several analyst reports. Wells Fargo & Co. reiterated a “buy” rating on shares of JPMorgan Chase & Co. in a research note on Saturday, July 9th. Argus reiterated a “buy” rating and issued a $72.00 price objective on shares of JPMorgan Chase & Co. in a research note on Monday, July 18th. Compass Point began coverage on JPMorgan Chase & Co. in a report on Tuesday. They issued a “sell” rating on the stock. Sanford C. Bernstein lowered JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating and increased their target price for the company from $65.72 to $67.00 in a report on Tuesday, August 16th. They noted that the move was a valuation call. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating on shares of JPMorgan Chase & Co. in a report on Tuesday, September 27th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twenty-three have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $72.25.
Several hedge funds have recently modified their holdings of the company. Winslow Capital Management LLC bought a new stake in shares of JPMorgan Chase & Co. during the second quarter worth $221,862,000. Dimensional Fund Advisors LP raised its stake in shares of JPMorgan Chase & Co. by 6.1% in the second quarter. Dimensional Fund Advisors LP now owns 26,852,672 shares of the financial services provider’s stock worth $1,668,461,000 after buying an additional 1,535,953 shares in the last quarter. Dodge & Cox raised its stake in shares of JPMorgan Chase & Co. by 5.4% in the second quarter. Dodge & Cox now owns 27,832,599 shares of the financial services provider’s stock worth $1,729,518,000 after buying an additional 1,415,650 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of JPMorgan Chase & Co. by 2.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 60,516,465 shares of the financial services provider’s stock worth $3,760,494,000 after buying an additional 1,331,994 shares in the last quarter. Finally, Capital International Investors raised its stake in shares of JPMorgan Chase & Co. by 9.5% in the second quarter. Capital International Investors now owns 14,622,101 shares of the financial services provider’s stock worth $908,617,000 after buying an additional 1,268,332 shares in the last quarter. 73.34% of the stock is owned by institutional investors.
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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