Evercore ISI Forecasts Strong Price Appreciation for JPMorgan Chase & Co. (NYSE:JPM) Stock

JPMorgan Chase & Co. (NYSE:JPM) had its target price hoisted by Evercore ISI from $280.00 to $298.00 in a report issued on Wednesday morning,Benzinga reports. Evercore ISI currently has an outperform rating on the financial services provider's stock.

A number of other analysts also recently issued reports on JPM. Robert W. Baird downgraded shares of JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 price target for the company. in a report on Friday, June 27th. UBS Group increased their price objective on JPMorgan Chase & Co. from $277.00 to $305.00 and gave the stock a "buy" rating in a research report on Thursday, April 17th. Royal Bank Of Canada restated a "hold" rating on shares of JPMorgan Chase & Co. in a research report on Monday, June 2nd. KGI Securities assumed coverage on JPMorgan Chase & Co. in a research note on Sunday, April 13th. They issued a "hold" rating on the stock. Finally, Wall Street Zen raised JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a research report on Wednesday, May 14th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $275.80.

JPMorgan Chase & Co. Trading Up 0.5%

NYSE:JPM traded up $1.44 during trading hours on Wednesday, hitting $291.85. The company had a trading volume of 8,104,339 shares, compared to its average volume of 9,523,896. JPMorgan Chase & Co. has a 1 year low of $190.90 and a 1 year high of $293.01. The company has a market cap of $811.08 billion, a P/E ratio of 14.33, a P/E/G ratio of 2.70 and a beta of 1.10. The company has a 50-day moving average of $263.87 and a 200 day moving average of $253.51. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.23.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its quarterly earnings results on Friday, April 11th. The financial services provider reported $5.07 earnings per share for the quarter, beating the consensus estimate of $4.63 by $0.44. JPMorgan Chase & Co. had a net margin of 21.21% and a return on equity of 16.88%. The firm had revenue of $45.30 billion for the quarter, compared to analysts' expectations of $43.62 billion. During the same quarter in the previous year, the company posted $4.44 EPS. The company's revenue was up 8.0% compared to the same quarter last year. Sell-side analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, July 3rd will be given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date is Thursday, July 3rd. JPMorgan Chase & Co.'s dividend payout ratio is currently 27.49%.

Insider Buying and Selling

In other news, General Counsel Stacey Friedman sold 6,608 shares of JPMorgan Chase & Co. stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $265.71, for a total value of $1,755,811.68. Following the completion of the transaction, the general counsel owned 36,520 shares in the company, valued at approximately $9,703,729.20. This trade represents a 15.32% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Jennifer Piepszak sold 6,129 shares of the business's stock in a transaction dated 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 directly owned 68,583 shares of the company's stock, valued at approximately $17,197,873.08. This represents a 8.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 71,200 shares of company stock valued at $18,060,015. 0.47% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in JPM. Capital Market Strategies LLC increased its holdings in JPMorgan Chase & Co. by 7.0% in the second quarter. Capital Market Strategies LLC now owns 1,170 shares of the financial services provider's stock valued at $339,000 after buying an additional 77 shares during the last quarter. HBW Advisory Services LLC increased its holdings in shares of JPMorgan Chase & Co. by 6.1% in the 2nd quarter. HBW Advisory Services LLC now owns 7,647 shares of the financial services provider's stock valued at $2,217,000 after acquiring an additional 441 shares during the last quarter. Helen Stephens Group LLC raised its position in shares of JPMorgan Chase & Co. by 4.5% during the 2nd quarter. Helen Stephens Group LLC now owns 4,801 shares of the financial services provider's stock worth $1,392,000 after acquiring an additional 205 shares in the last quarter. First Financial Bank Trust Division raised its position in shares of JPMorgan Chase & Co. by 0.4% during the 2nd quarter. First Financial Bank Trust Division now owns 76,612 shares of the financial services provider's stock worth $22,211,000 after acquiring an additional 336 shares in the last quarter. Finally, LVM Capital Management Ltd. MI lifted its stake in JPMorgan Chase & Co. by 3.8% during the second quarter. LVM Capital Management Ltd. MI now owns 55,356 shares of the financial services provider's stock worth $16,048,000 after purchasing an additional 2,003 shares during the last quarter. Hedge funds and other institutional investors own 71.55% of the company's stock.

About JPMorgan Chase & Co.

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.