JPMorgan Chase & Co. (NYSE:JPM) Shares Up 2.1% Following Analyst Upgrade

JPMorgan Chase & Co. (NYSE:JPM)’s share price shot up 2.1% during trading on Wednesday after Bank of America raised their price target on the stock from $300.00 to $325.00. Bank of America currently has a buy rating on the stock. JPMorgan Chase & Co. traded as high as $277.72 and last traded at $275.30. 2,913,025 shares traded hands during trading, a decline of 71% from the average session volume of 10,203,539 shares. The stock had previously closed at $269.52.

Other equities research analysts have also recently issued research reports about the company. TD Cowen began coverage on JPMorgan Chase & Co. in a research note on Thursday, May 15th. They set a “buy” rating and a $305.00 price target for the company. Wells Fargo & Company upped their price target on JPMorgan Chase & Co. from $300.00 to $320.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 10th. Morgan Stanley reiterated an “equal weight” rating on shares of JPMorgan Chase & Co. in a research report on Monday, June 2nd. Truist Financial increased their price objective on JPMorgan Chase & Co. from $270.00 to $280.00 and gave the stock a “hold” rating in a research report on Monday, June 2nd. Finally, UBS Group increased their price objective on JPMorgan Chase & Co. from $277.00 to $305.00 and gave the stock a “buy” rating in a research report on Thursday, April 17th. Thirteen analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $271.70.

Read Our Latest Analysis on JPMorgan Chase & Co.

Insider Buying and Selling at JPMorgan Chase & Co.

In related news, COO Jennifer Piepszak sold 6,128 shares of the stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $262.47, for a total transaction of $1,608,416.16. Following the sale, the chief operating officer now owns 62,455 shares of the company’s stock, valued at $16,392,563.85. This trade represents a 8.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Troy L. Rohrbaugh sold 25,000 shares of the stock in a transaction on Monday, March 24th. The shares were sold at an average price of $247.02, for a total value of $6,175,500.00. Following the sale, the chief executive officer now directly owns 133,381 shares in the company, valued at approximately $32,947,774.62. The trade was a 15.78% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 101,722 shares of company stock valued at $25,599,477. Insiders own 0.47% of the company’s stock.

Institutional Trading of JPMorgan Chase & Co.

A number of large investors have recently made changes to their positions in JPM. DDD Partners LLC boosted its stake in JPMorgan Chase & Co. by 2.8% in the 4th quarter. DDD Partners LLC now owns 1,416 shares of the financial services provider’s stock worth $339,000 after buying an additional 38 shares during the last quarter. Blue Bell Private Wealth Management LLC boosted its stake in JPMorgan Chase & Co. by 1.5% in the 4th quarter. Blue Bell Private Wealth Management LLC now owns 2,594 shares of the financial services provider’s stock worth $622,000 after buying an additional 38 shares during the last quarter. Hurlow Wealth Management Group Inc. boosted its stake in JPMorgan Chase & Co. by 0.7% in the 4th quarter. Hurlow Wealth Management Group Inc. now owns 5,538 shares of the financial services provider’s stock worth $1,328,000 after buying an additional 40 shares during the last quarter. Wimmer Associates 1 LLC boosted its stake in JPMorgan Chase & Co. by 1.0% in the 4th quarter. Wimmer Associates 1 LLC now owns 4,114 shares of the financial services provider’s stock worth $986,000 after buying an additional 40 shares during the last quarter. Finally, Twin Lakes Capital Management LLC boosted its stake in JPMorgan Chase & Co. by 0.3% in the 4th quarter. Twin Lakes Capital Management LLC now owns 13,932 shares of the financial services provider’s stock worth $3,340,000 after buying an additional 40 shares during the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

JPMorgan Chase & Co. Trading Up 1.6%

The business has a 50 day simple moving average of $254.66 and a 200-day simple moving average of $251.00. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.23. The stock has a market capitalization of $760.98 billion, a price-to-earnings ratio of 13.44, a price-to-earnings-growth ratio of 2.72 and a beta of 1.08.

JPMorgan Chase & Co. (NYSE:JPMGet Free Report) last released its quarterly earnings data on Friday, April 11th. The financial services provider reported $5.07 EPS for the quarter, topping analysts’ consensus estimates of $4.63 by $0.44. The company had revenue of $45.30 billion for the quarter, compared to the consensus estimate of $43.62 billion. JPMorgan Chase & Co. had a return on equity of 16.88% and a net margin of 21.21%. The company’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same period last year, the business posted $4.44 EPS. On average, equities analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, July 3rd will be issued a $1.40 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.05%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 27.49%.

About JPMorgan Chase & Co.

(Get Free Report)

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.

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