JPMorgan Chase & Co. (NYSE:JPM) Announces Earnings Results, Beats Expectations By $0.21 EPS

JPMorgan Chase & Co. (NYSE:JPM) issued its quarterly earnings data on Friday. The financial services provider reported $4.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.19 by $0.21, reports. The firm had revenue of $50.80 billion during the quarter, compared to analysts’ expectations of $42.23 billion. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.52%. During the same period in the prior year, the company posted $4.37 earnings per share.

JPMorgan Chase & Co. Price Performance

JPM opened at $204.94 on Monday. JPMorgan Chase & Co. has a one year low of $135.19 and a one year high of $210.38. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.92 and a quick ratio of 0.92. The company’s 50 day simple moving average is $199.88 and its 200-day simple moving average is $189.09. The stock has a market capitalization of $588.52 billion, a P/E ratio of 11.43, a price-to-earnings-growth ratio of 2.31 and a beta of 1.12.

JPMorgan Chase & Co. Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, July 5th will be paid a dividend of $1.15 per share. The ex-dividend date of this dividend is Friday, July 5th. This represents a $4.60 annualized dividend and a dividend yield of 2.24%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 25.66%.

Insider Activity

In other news, General Counsel Stacey Friedman sold 4,415 shares of the stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $200.65, for a total transaction of $885,869.75. Following the sale, the general counsel now directly owns 42,124 shares of the company’s stock, valued at $8,452,180.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 4,415 shares of the stock in a transaction on Monday, May 20th. The shares were sold at an average price of $200.65, for a total value of $885,869.75. Following the sale, the general counsel now directly owns 42,124 shares in the company, valued at $8,452,180.60. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Elena A. Korablina sold 21,829 shares of the firm’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $190.91, for a total transaction of $4,167,374.39. Following the sale, the insider now owns 6,484 shares in the company, valued at $1,237,860.44. The disclosure for this sale can be found here. Insiders have sold 72,343 shares of company stock valued at $14,137,789 over the last three months. 0.79% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in JPM. Norges Bank bought a new position in JPMorgan Chase & Co. in the fourth quarter valued at $6,016,878,000. International Assets Investment Management LLC acquired a new stake in JPMorgan Chase & Co. in the 4th quarter worth about $1,017,893,000. Swedbank AB acquired a new stake in JPMorgan Chase & Co. in the 1st quarter worth about $800,130,000. Capital Research Global Investors raised its stake in JPMorgan Chase & Co. by 23.3% in the 1st quarter. Capital Research Global Investors now owns 17,200,124 shares of the financial services provider’s stock worth $3,445,185,000 after purchasing an additional 3,252,451 shares in the last quarter. Finally, Capital International Investors raised its position in shares of JPMorgan Chase & Co. by 5.4% in the 4th quarter. Capital International Investors now owns 41,516,695 shares of the financial services provider’s stock valued at $7,062,094,000 after buying an additional 2,128,478 shares in the last quarter. Institutional investors own 71.55% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. BMO Capital Markets upped their price objective on shares of JPMorgan Chase & Co. from $195.00 to $205.00 and gave the stock a “market perform” rating in a report on Thursday. Oppenheimer cut their target price on shares of JPMorgan Chase & Co. from $219.00 to $217.00 and set an “outperform” rating for the company in a research report on Monday, April 15th. Piper Sandler boosted their target price on shares of JPMorgan Chase & Co. from $215.00 to $220.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 21st. Morgan Stanley cut their price objective on shares of JPMorgan Chase & Co. from $216.00 to $214.00 and set an “overweight” rating for the company in a research report on Tuesday, May 21st. Finally, Wolfe Research lowered shares of JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a research report on Monday, July 8th. Eight equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, JPMorgan Chase & Co. currently has a consensus rating of “Moderate Buy” and an average target price of $198.61.

JPMorgan Chase & Co. Company Profile

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.