J P Morgan Chase & Co (NYSE:JPM) announced its earnings results on Thursday. The financial services provider reported $1.76 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.67 by $0.09, MarketWatch Earnings reports. J P Morgan Chase & Co had a net margin of 24.13% and a return on equity of 11.53%. The firm had revenue of $25.33 billion for the quarter, compared to analyst estimates of $24.91 billion. During the same quarter last year, the business earned $1.58 earnings per share. J P Morgan Chase & Co’s revenue was up 2.6% compared to the same quarter last year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Friday, October 6th will be paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date is Thursday, October 5th. This is an increase from J P Morgan Chase & Co’s previous quarterly dividend of $0.50. J P Morgan Chase & Co’s dividend payout ratio (DPR) is currently 33.14%.

JPM has been the topic of a number of analyst reports. Zacks Investment Research upgraded shares of J P Morgan Chase & Co from a “hold” rating to a “buy” rating and set a $102.00 target price on the stock in a research report on Monday, July 31st. BidaskClub upgraded shares of J P Morgan Chase & Co from a “hold” rating to a “buy” rating in a research report on Wednesday, July 5th. Deutsche Bank AG restated a “buy” rating on shares of J P Morgan Chase & Co in a research report on Monday, July 3rd. Bank of America Corporation restated a “buy” rating and set a $99.00 target price on shares of J P Morgan Chase & Co in a research report on Monday, July 17th. Finally, Royal Bank Of Canada restated a “buy” rating and set a $95.00 target price on shares of J P Morgan Chase & Co in a research report on Friday, August 18th. Three research analysts have rated the stock with a sell rating, fifteen have given a hold rating and seventeen have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $89.34.

In other J P Morgan Chase & Co news, General Counsel Stacey Friedman sold 9,968 shares of the business’s stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $90.55, for a total value of $902,602.40. Following the completion of the sale, the general counsel now directly owns 10,527 shares of the company’s stock, valued at $953,219.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Nicole Giles sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 18th. The stock was sold at an average price of $91.29, for a total transaction of $91,290.00. Following the completion of the sale, the insider now directly owns 3,783 shares of the company’s stock, valued at $345,350.07. The disclosure for this sale can be found here. Insiders sold 28,564 shares of company stock valued at $2,605,334 over the last three months. Insiders own 0.88% of the company’s stock.

Hedge funds have recently bought and sold shares of the business. Beach Investment Management LLC. boosted its holdings in shares of J P Morgan Chase & Co by 1,117.4% during the 2nd quarter. Beach Investment Management LLC. now owns 559,171 shares of the financial services provider’s stock worth $51,108,000 after buying an additional 513,241 shares during the period. Smith Chas P & Associates PA Cpas boosted its holdings in shares of J P Morgan Chase & Co by 0.4% during the 2nd quarter. Smith Chas P & Associates PA Cpas now owns 282,482 shares of the financial services provider’s stock worth $25,819,000 after buying an additional 1,220 shares during the period. Miracle Mile Advisors LLC boosted its holdings in shares of J P Morgan Chase & Co by 13.5% during the 2nd quarter. Miracle Mile Advisors LLC now owns 4,360 shares of the financial services provider’s stock worth $399,000 after buying an additional 517 shares during the period. Apriem Advisors boosted its holdings in shares of J P Morgan Chase & Co by 3.9% during the 2nd quarter. Apriem Advisors now owns 68,022 shares of the financial services provider’s stock worth $6,217,000 after buying an additional 2,550 shares during the period. Finally, Cadence Capital Management LLC boosted its holdings in shares of J P Morgan Chase & Co by 5.3% during the 2nd quarter. Cadence Capital Management LLC now owns 179,581 shares of the financial services provider’s stock worth $16,414,000 after buying an additional 9,105 shares during the period. 77.89% of the stock is owned by institutional investors.

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About J P Morgan 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 offers services to consumers and businesses through bank branches, automatic teller machines (ATMs), online, mobile and telephone banking.

Earnings History for J P Morgan Chase & Co (NYSE:JPM)

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