Oppenheimer Raises JPMorgan Chase & Co. (NYSE:JPM) Price Target to $234.00

JPMorgan Chase & Co. (NYSE:JPM) had its price target hoisted by Oppenheimer from $221.00 to $234.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has an outperform rating on the financial services provider’s stock.

Several other brokerages have also commented on JPM. StockNews.com raised JPMorgan Chase & Co. from a sell rating to a hold rating in a report on Saturday, July 13th. Evercore ISI upped their target price on shares of JPMorgan Chase & Co. from $210.00 to $211.00 and gave the stock an outperform rating in a research report on Monday, July 15th. Barclays raised their price target on JPMorgan Chase & Co. from $212.00 to $217.00 and gave the company an overweight rating in a research report on Monday, July 15th. Piper Sandler lifted their price target on JPMorgan Chase & Co. from $220.00 to $230.00 and gave the stock an overweight rating in a research note on Monday, July 15th. Finally, Wolfe Research cut shares of JPMorgan Chase & Co. from an outperform rating to a peer perform rating in a research report on Monday, July 8th. Nine investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, JPMorgan Chase & Co. presently has an average rating of Moderate Buy and an average price target of $212.13.

JPMorgan Chase & Co. Trading Up 3.5 %

NYSE JPM opened at $211.22 on Wednesday. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 1.24. The business has a fifty day simple moving average of $211.30 and a 200 day simple moving average of $203.09. JPMorgan Chase & Co. has a 12 month low of $135.19 and a 12 month high of $225.48. The firm has a market capitalization of $606.55 billion, a P/E ratio of 11.78, a PEG ratio of 2.39 and a beta of 1.11.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data on Friday, July 12th. The financial services provider reported $6.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.19 by $1.93. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.26%. The business had revenue of $50.80 billion during the quarter, compared to the consensus estimate of $42.23 billion. During the same quarter last year, the company posted $4.37 earnings per share. On average, analysts predict that JPMorgan Chase & Co. will post 16.72 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 4th will be paid a dividend of $1.25 per share. The ex-dividend date of this dividend is Friday, October 4th. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.37%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 27.89%.

Hedge Funds Weigh In On JPMorgan Chase & Co.

A number of large investors have recently bought and sold shares of JPM. Per Stirling Capital Management LLC. raised its stake in shares of JPMorgan Chase & Co. by 7.9% in the fourth quarter. Per Stirling Capital Management LLC. now owns 3,907 shares of the financial services provider’s stock worth $665,000 after purchasing an additional 286 shares during the last quarter. Exencial Wealth Advisors LLC raised its position in shares of JPMorgan Chase & Co. by 3.4% in the fourth quarter. Exencial Wealth Advisors LLC now owns 29,767 shares of the financial services provider’s stock worth $5,063,000 after acquiring an additional 978 shares during the period. Pinnacle West Asset Management Inc. grew its position in shares of JPMorgan Chase & Co. by 6.3% during the 4th quarter. Pinnacle West Asset Management Inc. now owns 15,860 shares of the financial services provider’s stock valued at $2,698,000 after acquiring an additional 945 shares during the period. Envestnet Asset Management Inc. increased its stake in shares of JPMorgan Chase & Co. by 5.4% in the 4th quarter. Envestnet Asset Management Inc. now owns 6,455,724 shares of the financial services provider’s stock valued at $1,098,119,000 after purchasing an additional 333,322 shares in the last quarter. Finally, Morningstar Investment Services LLC raised its holdings in JPMorgan Chase & Co. by 97.8% in the 4th quarter. Morningstar Investment Services LLC now owns 1,214,819 shares of the financial services provider’s stock worth $206,883,000 after purchasing an additional 600,580 shares during the period. Institutional investors own 71.55% of the company’s stock.

About JPMorgan Chase & Co.

JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit, investment and lending products, cash management, and payments and services; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.