JPMorgan Chase & Co. (NYSE:JPM) Sets New 1-Year High – Here’s Why

JPMorgan Chase & Co. (NYSE:JPM) shares reached a new 52-week high during trading on Friday . The stock traded as high as $352.93 and last traded at $352.5080, with a volume of 2578280 shares trading hands. The stock had previously closed at $349.90.

JPMorgan Chase & Co. News Roundup

Here are the key news stories impacting JPMorgan Chase & Co. this week:

• Positive Sentiment: JPMorgan continues to draw favorable analyst attention, with multiple reports saying it remains a strong long-term and momentum pick for investors. Wall Street Analysts Think JPMorgan Chase & Co. (JPM) Is a Good Investment: Is It?
• Positive Sentiment: Recent commentary highlighted JPMorgan’s earnings strength and AI-related growth themes in banking, which supports the view that the company can keep outperforming peers. JPMorgan Sees AI-Powered Growth For Banks; Stock Pops Into Buy Zone After Earnings Growth
• Positive Sentiment: JPMorgan was also cited as a top momentum candidate and long-term stock pick by Zacks, adding to the bullish sentiment around the shares. Are You Looking for a Top Momentum Pick? Why JPMorgan Chase & Co. (JPM) is a Great Choice
• Neutral Sentiment: The bank completed $9 billion in debt offerings, which is a routine capital-markets transaction that may help funding flexibility but is not clearly a major near-term catalyst. JPMorgan Chase Raises $9 Billion Through Debt Offerings
• Neutral Sentiment: JPMorgan’s broader market commentary on oil, Iran-related disruption, and global risks reflects its macro views, but these notes are more informative than directly stock-moving for JPM itself. Here’s what each additional month of Iran-conflict disruption means for oil prices
• Negative Sentiment: House lawmakers questioned former JPMorgan executive Jes Staley over Epstein-related ties, which keeps reputational and legal-overhang concerns in the background for the bank. House lawmakers grill former JPMorgan executive Jes Staley over Epstein ties

Wall Street Analyst Weigh In

JPM has been the subject of a number of research reports. Daiwa Securities Group lowered their target price on JPMorgan Chase & Co. from $340.00 to $328.00 and set an “outperform” rating for the company in a report on Tuesday, April 7th. Keefe, Bruyette & Woods raised their price target on shares of JPMorgan Chase & Co. from $370.00 to $384.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 15th. Zacks Research raised shares of JPMorgan Chase & Co. from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 16th. Bank of America lifted their price target on shares of JPMorgan Chase & Co. from $408.00 to $420.00 and gave the company a “buy” rating in a research note on Thursday, July 16th. Finally, UBS Group increased their price objective on shares of JPMorgan Chase & Co. from $375.00 to $384.00 and gave the stock a “buy” rating in a research note on Tuesday, July 7th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $358.67.

JPMorgan Chase & Co. Trading Up 0.9%

The company has a market cap of $945.55 billion, a P/E ratio of 15.12, a P/E/G ratio of 1.56 and a beta of 0.99. The business’s 50-day moving average price is $323.74 and its 200 day moving average price is $311.13. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.86 and a current ratio of 0.85.

JPMorgan Chase & Co. (NYSE:JPM) last issued its earnings results on Tuesday, July 14th. The financial services provider reported $6.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.59 by $0.55. JPMorgan Chase & Co. had a net margin of 21.86% and a return on equity of 18.23%. The company had revenue of $58.02 billion for the quarter, compared to analysts’ expectations of $50.72 billion. During the same period in the prior year, the firm earned $4.96 EPS. JPMorgan Chase & Co.’s quarterly revenue was up 27.7% compared to the same quarter last year. As a group, analysts expect that JPMorgan Chase & Co. will post 23.97 earnings per share for the current year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Monday, July 6th will be given a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Monday, July 6th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 25.71%.

Insider Transactions at JPMorgan Chase & Co.

In related news, COO Jennifer Piepszak sold 4,919 shares of the business’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $309.42, for a total transaction of $1,522,036.98. Following the transaction, the chief operating officer directly owned 85,082 shares of the company’s stock, valued at approximately $26,326,072.44. The trade was a 5.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Stacey Friedman sold 5,468 shares of the stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $300.27, for a total value of $1,641,876.36. Following the completion of the sale, the general counsel owned 46,428 shares in the company, valued at approximately $13,940,935.56. This trade represents a 10.54% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 18,876 shares of company stock worth $5,907,051. 0.41% of the stock is owned by company insiders.

Hedge Funds Weigh In On JPMorgan Chase & Co.

Several institutional investors and hedge funds have recently made changes to their positions in the company. SWP Financial LLC lifted its holdings in JPMorgan Chase & Co. by 9.8% during the 2nd quarter. SWP Financial LLC now owns 1,093 shares of the financial services provider’s stock worth $358,000 after purchasing an additional 98 shares during the last quarter. Udine Wealth Management Inc. raised its stake in JPMorgan Chase & Co. by 1.5% in the 2nd quarter. Udine Wealth Management Inc. now owns 33,307 shares of the financial services provider’s stock worth $10,902,000 after purchasing an additional 484 shares in the last quarter. WealthBridge Capital Management LLC boosted its holdings in JPMorgan Chase & Co. by 0.3% in the 2nd quarter. WealthBridge Capital Management LLC now owns 10,503 shares of the financial services provider’s stock valued at $3,438,000 after purchasing an additional 31 shares during the period. Petra Financial Advisors Inc. acquired a new position in shares of JPMorgan Chase & Co. during the 2nd quarter worth approximately $276,000. Finally, Bogart Wealth LLC grew its position in shares of JPMorgan Chase & Co. by 3.0% during the 2nd quarter. Bogart Wealth LLC now owns 37,403 shares of the financial services provider’s stock worth $12,243,000 after purchasing an additional 1,102 shares in the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

About JPMorgan Chase & Co.

JPMorgan Chase & Co (NYSE: JPM) is a diversified global financial services firm headquartered in New York City. The company provides a wide range of banking and financial products and services to consumers, small businesses, corporations, governments and institutional investors worldwide. Its operations span retail banking, commercial lending, investment banking, asset management, payments and card services, and treasury and securities services.

The firm’s principal business activities are organized across several core lines: Consumer & Community Banking, which offers deposit accounts, mortgages, auto loans, credit cards and branch and digital banking under the Chase brand; Corporate & Investment Banking, which provides capital markets, advisory, underwriting, trading and risk management services; Commercial Banking, delivering lending, treasury and capital solutions to middle-market and corporate clients; and Asset & Wealth Management, which offers investment management, private banking and retirement services to institutions and high-net-worth individuals.