Wells Fargo & Company Issues Positive Forecast for JPMorgan Chase & Co. (NYSE:JPM) Stock Price

JPMorgan Chase & Co. (NYSE:JPM) had its target price raised by Wells Fargo & Company from $240.00 to $270.00 in a research note issued to investors on Friday,Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

Other equities research analysts have also issued research reports about the stock. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $235.00 target price on shares of JPMorgan Chase & Co. in a research note on Tuesday, September 3rd. Oppenheimer lifted their target price on shares of JPMorgan Chase & Co. from $232.00 to $241.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. Robert W. Baird lowered shares of JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 target price for the company. in a research note on Thursday, November 7th. Morgan Stanley lowered shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and lifted their target price for the company from $220.00 to $224.00 in a research note on Monday, September 30th. Finally, Daiwa Capital Markets decreased their target price on shares of JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating for the company in a research note on Thursday, October 10th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $227.13.

JPMorgan Chase & Co. Price Performance

JPMorgan Chase & Co. stock traded up $3.44 during mid-day trading on Friday, hitting $245.31. The company’s stock had a trading volume of 11,518,836 shares, compared to its average volume of 9,110,933. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.27. The stock has a market capitalization of $690.63 billion, a P/E ratio of 13.66, a P/E/G ratio of 3.50 and a beta of 1.10. JPMorgan Chase & Co. has a twelve month low of $150.09 and a twelve month high of $248.00. The stock’s fifty day moving average price is $219.50 and its two-hundred day moving average price is $209.92.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.02 by $0.35. JPMorgan Chase & Co. had a net margin of 19.64% and a return on equity of 16.71%. The firm had revenue of $43.32 billion for the quarter, compared to analyst estimates of $41.43 billion. During the same quarter in the previous year, the business posted $4.33 earnings per share. The firm’s quarterly revenue was up 6.5% compared to the same quarter last year. Research analysts forecast that JPMorgan Chase & Co. will post 17.62 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 4th were given a dividend of $1.25 per share. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date of this dividend was Friday, October 4th. This represents a $5.00 dividend on an annualized basis and a yield of 2.04%. JPMorgan Chase & Co.’s payout ratio is currently 27.82%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Accredited Investors Inc. increased its holdings in shares of JPMorgan Chase & Co. by 4.9% during the 2nd quarter. Accredited Investors Inc. now owns 14,174 shares of the financial services provider’s stock worth $2,867,000 after purchasing an additional 667 shares during the period. Bleakley Financial Group LLC increased its holdings in shares of JPMorgan Chase & Co. by 1.4% during the 1st quarter. Bleakley Financial Group LLC now owns 87,063 shares of the financial services provider’s stock worth $17,439,000 after purchasing an additional 1,173 shares during the period. Sunburst Financial Group LLC increased its holdings in shares of JPMorgan Chase & Co. by 5.0% during the 2nd quarter. Sunburst Financial Group LLC now owns 5,651 shares of the financial services provider’s stock worth $1,143,000 after purchasing an additional 268 shares during the period. Sageworth Trust Co increased its holdings in shares of JPMorgan Chase & Co. by 37.9% during the 3rd quarter. Sageworth Trust Co now owns 2,860 shares of the financial services provider’s stock worth $603,000 after purchasing an additional 786 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of JPMorgan Chase & Co. by 16.0% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 692,809 shares of the financial services provider’s stock worth $143,594,000 after purchasing an additional 95,461 shares during the period. Institutional investors and hedge funds 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.