JPMorgan Chase & Co. (NYSE:JPM) Given New $340.00 Price Target at Bank of America

JPMorgan Chase & Co. (NYSE:JPM) had its price objective boosted by Bank of America from $330.00 to $340.00 in a research note published on Wednesday morning,Benzinga reports. They currently have a buy rating on the financial services provider's stock.

Several other analysts have also recently commented on the company. HSBC reiterated a "reduce" rating and set a $259.00 price target on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 8th. Cowen reiterated a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Tuesday, May 20th. Evercore ISI set a $298.00 price target on JPMorgan Chase & Co. and gave the stock an "outperform" rating in a research report on Monday, July 7th. TD Securities reiterated a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, June 4th. Finally, Piper Sandler reiterated an "overweight" rating on shares of JPMorgan Chase & Co. in a research report on Tuesday. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $288.68.

JPMorgan Chase & Co. Price Performance

Shares of JPMorgan Chase & Co. stock traded up $1.87 on Wednesday, reaching $291.77. The company's stock had a trading volume of 3,790,232 shares, compared to its average volume of 9,495,060. The company has a market capitalization of $810.85 billion, a P/E ratio of 14.95, a PEG ratio of 2.59 and a beta of 1.10. JPMorgan Chase & Co. has a 52-week low of $190.90 and a 52-week high of $296.40. The stock has a 50-day moving average price of $273.91 and a 200-day moving average price of $257.56. The company has a quick ratio of 0.89, a current ratio of 0.88 and a debt-to-equity ratio of 1.25.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $4.96 EPS for the quarter, topping the consensus estimate of $4.48 by $0.48. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%. The firm had revenue of $44.91 billion during the quarter, compared to analysts' expectations of $43.76 billion. During the same period in the previous year, the business earned $6.12 earnings per share. The firm's revenue for the quarter was down 10.5% on a year-over-year basis. Analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, July 3rd will be paid a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 1.92%. The ex-dividend date is Thursday, July 3rd. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is presently 28.73%.

Insiders Place Their Bets

In other news, COO Jennifer Piepszak sold 6,129 shares of the company's stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $250.76, for a total value of $1,536,908.04. Following the transaction, the chief operating officer owned 68,583 shares of the company's stock, valued at $17,197,873.08. This represents a 8.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Jeremy Barnum sold 40,014 shares of the stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $250.77, for a total value of $10,034,310.78. Following the transaction, the chief financial officer directly owned 18,017 shares in the company, valued at approximately $4,518,123.09. The trade was a 68.95% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 71,200 shares of company stock worth $18,060,015. Company insiders own 0.47% of the company's stock.

Institutional Investors Weigh In On JPMorgan Chase & Co.

Several large investors have recently bought and sold shares of the stock. Kingstone Capital Partners Texas LLC increased its holdings in JPMorgan Chase & Co. by 609,867.5% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 72,897,211 shares of the financial services provider's stock worth $21,133,630,000 after purchasing an additional 72,885,260 shares during the period. Geode Capital Management LLC increased its holdings in JPMorgan Chase & Co. by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 59,220,603 shares of the financial services provider's stock worth $14,161,171,000 after purchasing an additional 876,417 shares during the period. Norges Bank purchased a new stake in JPMorgan Chase & Co. during the 4th quarter worth about $8,310,884,000. Northern Trust Corp increased its holdings in JPMorgan Chase & Co. by 15.4% during the 4th quarter. Northern Trust Corp now owns 33,845,676 shares of the financial services provider's stock worth $8,113,147,000 after purchasing an additional 4,515,147 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in shares of JPMorgan Chase & Co. by 1.9% in the 1st quarter. Bank of New York Mellon Corp now owns 24,801,153 shares of the financial services provider's stock valued at $6,083,723,000 after acquiring an additional 454,226 shares during the last quarter. Hedge funds and other institutional investors own 71.55% of the company's stock.

JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.