JPMorgan Chase & Co. (NYSE:JPM) Stock Price Up 1.6% Following Analyst Upgrade

Shares of JPMorgan Chase & Co. (NYSE:JPM) rose 1.6% during trading on Thursday 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 $273.83. Approximately 9,583,437 shares changed hands during trading, an increase of 1% from the average daily volume of 9,523,464 shares. The stock had previously closed at $269.52.

A number of other analysts have also commented on JPM. Royal Bank Of Canada reissued a “hold” rating on shares of JPMorgan Chase & Co. in a research note on Monday, June 2nd. KGI Securities initiated coverage on JPMorgan Chase & Co. in a research note on Sunday, April 13th. They set a “hold” rating on the stock. Baird R W raised JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a research note on Friday, March 7th. Piper Sandler reiterated a “hold” rating on shares of JPMorgan Chase & Co. in a report on Monday, June 2nd. Finally, TD Securities reissued a “buy” rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, June 4th. Thirteen equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $271.70.

Check Out Our Latest Stock Report on JPMorgan Chase & Co.

Insider Buying and Selling at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, COO Jennifer Piepszak sold 4,272 shares of the business’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $247.03, for a total value of $1,055,312.16. Following the transaction, the chief operating officer now directly owns 50,197 shares of the company’s stock, valued at approximately $12,400,164.91. The trade was a 7.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Robin Leopold sold 1,250 shares of the company’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $246.92, for a total value of $308,650.00. Following the transaction, the insider now directly owns 49,127 shares in the company, valued at $12,130,438.84. The trade was a 2.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 101,722 shares of company stock valued at $25,599,477. 0.47% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On JPMorgan Chase & Co.

A number of institutional investors have recently modified their holdings of JPM. Norges Bank acquired a new position in shares of JPMorgan Chase & Co. during the fourth quarter worth approximately $8,310,884,000. GAMMA Investing LLC raised its position in shares of JPMorgan Chase & Co. by 25,861.9% during the first quarter. GAMMA Investing LLC now owns 23,556,011 shares of the financial services provider’s stock worth $5,778,289,000 after purchasing an additional 23,465,278 shares during the period. Nuveen LLC acquired a new position in shares of JPMorgan Chase & Co. during the first quarter worth approximately $3,972,807,000. Northern Trust Corp raised its position in shares of JPMorgan Chase & Co. by 15.4% during the fourth quarter. Northern Trust Corp now owns 33,845,676 shares of the financial services provider’s stock worth $8,113,147,000 after purchasing an additional 4,515,147 shares during the period. Finally, Proficio Capital Partners LLC raised its position in shares of JPMorgan Chase & Co. by 34,259.3% during the fourth quarter. Proficio Capital Partners LLC now owns 3,499,499 shares of the financial services provider’s stock worth $838,865,000 after purchasing an additional 3,489,314 shares during the period. 71.55% of the stock is owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Price Performance

The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.23. The business has a 50-day moving average price of $255.59 and a two-hundred day moving average price of $251.19. The company has a market capitalization of $760.98 billion, a price-to-earnings ratio of 13.44, a price-to-earnings-growth ratio of 2.76 and a beta of 1.08.

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

JPMorgan Chase & Co. Announces Dividend

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

JPMorgan Chase & Co. Company Profile

(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.

Further Reading

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