JPMorgan Chase & Co. (NYSE:JPM) Trading 1.4% Higher – Should You Buy?

JPMorgan Chase & Co. (NYSE:JPM) shares rose 1.4% during trading on Wednesday . The stock traded as high as $244.09 and last traded at $242.93. Approximately 3,097,593 shares were traded during mid-day trading, a decline of 66% from the average daily volume of 9,055,283 shares. The stock had previously closed at $239.56.

Analysts Set New Price Targets

A number of brokerages have issued reports on JPM. Barclays boosted their target price on shares of JPMorgan Chase & Co. from $217.00 to $257.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Oppenheimer boosted their price objective on JPMorgan Chase & Co. from $232.00 to $241.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. Evercore ISI increased their price objective on JPMorgan Chase & Co. from $217.00 to $230.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Daiwa Capital Markets reduced their target price on JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating for the company in a report on Thursday, October 10th. Finally, Robert W. Baird cut JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 price target on the stock. in a research report on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, JPMorgan Chase & Co. presently has an average rating of “Hold” and a consensus target price of $224.31.

JPMorgan Chase & Co. Stock Performance

The company has a market capitalization of $681.12 billion, a PE ratio of 13.46, a price-to-earnings-growth ratio of 3.48 and a beta of 1.10. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.27. The business’s fifty day moving average is $218.35 and its two-hundred day moving average is $209.33.

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

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 4th were given a dividend of $1.25 per share. This is an increase 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 2.07%. JPMorgan Chase & Co.’s dividend payout ratio is 27.82%.

Institutional Investors Weigh In On JPMorgan Chase & Co.

A number of large investors have recently added to or reduced their stakes in the stock. Accredited Investors Inc. grew its position in JPMorgan Chase & Co. by 4.9% during the second quarter. Accredited Investors Inc. now owns 14,174 shares of the financial services provider’s stock valued at $2,867,000 after buying an additional 667 shares during the period. Bleakley Financial Group LLC grew its position 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 valued at $17,439,000 after acquiring an additional 1,173 shares during the period. Sunburst Financial Group LLC increased its stake in shares of JPMorgan Chase & Co. by 5.0% in 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 in the last quarter. Sageworth Trust Co lifted its position in JPMorgan Chase & Co. by 37.9% during the third quarter. Sageworth Trust Co now owns 2,860 shares of the financial services provider’s stock valued at $603,000 after purchasing an additional 786 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in JPMorgan Chase & Co. by 16.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 692,809 shares of the financial services provider’s stock valued at $143,594,000 after purchasing an additional 95,461 shares in the last quarter. Institutional investors own 71.55% of the company’s stock.

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.