JPMorgan Chase & Co. (NYSE:JPM) Stock Price Up 0.7% – Still a Buy?

JPMorgan Chase & Co. (NYSE:JPM) shares traded up 0.7% on Wednesday . The company traded as high as $270.68 and last traded at $269.09. 2,147,770 shares traded hands during trading, a decline of 79% from the average session volume of 10,452,278 shares. The stock had previously closed at $267.14.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Royal Bank of Canada upped their price objective on shares of JPMorgan Chase & Co. from $211.00 to $230.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Piper Sandler upped their price target on JPMorgan Chase & Co. from $240.00 to $275.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 3rd. Oppenheimer cut JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 20th. Evercore ISI boosted their price objective on JPMorgan Chase & Co. from $217.00 to $230.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Finally, Barclays raised their target price on JPMorgan Chase & Co. from $304.00 to $330.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $251.78.

JPMorgan Chase & Co. Trading Down 0.4 %

The stock has a market cap of $752.09 billion, a price-to-earnings ratio of 13.53, a P/E/G ratio of 2.87 and a beta of 1.11. The business’s 50 day moving average is $247.54 and its 200 day moving average is $227.91. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.88 and a quick ratio of 0.89.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.03 by $0.78. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. The company had revenue of $42.77 billion during the quarter, compared to the consensus estimate of $41.90 billion. During the same period in the previous year, the business earned $3.04 EPS. JPMorgan Chase & Co.’s revenue for the quarter was up 10.9% on a year-over-year basis. As a group, equities analysts expect that JPMorgan Chase & Co. will post 17.82 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, January 6th will be issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date of this dividend is Monday, January 6th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 25.33%.

Insider Buying and Selling at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 3,303 shares of the company’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $253.94, for a total value of $838,763.82. Following the completion of the transaction, the general counsel now owns 47,620 shares in the company, valued at $12,092,622.80. This represents a 6.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.79% of the stock is currently owned by insiders.

Institutional Trading of JPMorgan Chase & Co.

Several institutional investors and hedge funds have recently made changes to their positions in JPM. Quarry LP grew its position in JPMorgan Chase & Co. by 1,062.1% during the 2nd quarter. Quarry LP now owns 337 shares of the financial services provider’s stock worth $68,000 after purchasing an additional 308 shares during the last quarter. Anchor Investment Management LLC grew its holdings in shares of JPMorgan Chase & Co. by 3.1% during the second quarter. Anchor Investment Management LLC now owns 39,993 shares of the financial services provider’s stock worth $8,089,000 after buying an additional 1,195 shares during the last quarter. Centaurus Financial Inc. increased its position in JPMorgan Chase & Co. by 17.8% in the 2nd quarter. Centaurus Financial Inc. now owns 38,968 shares of the financial services provider’s stock valued at $7,882,000 after acquiring an additional 5,900 shares during the period. Greater Midwest Financial Group LLC raised its stake in JPMorgan Chase & Co. by 6.6% during the 2nd quarter. Greater Midwest Financial Group LLC now owns 10,413 shares of the financial services provider’s stock valued at $2,189,000 after acquiring an additional 641 shares during the last quarter. Finally, Ashburton Jersey Ltd acquired a new stake in JPMorgan Chase & Co. during the 2nd quarter worth approximately $18,230,000. 71.55% of the stock is owned by hedge funds and other institutional investors.

About JPMorgan Chase & Co.

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. The firm offers a range of investment banking products and services in all capital markets, including advising on corporate strategy and structure, capital raising in equity and debt markets, risk management, market making in cash securities and derivative instruments, and brokerage and research.