JPMorgan Chase & Co. (NYSE:JPM) Releases Earnings Results

Key Points

• JPMorgan Chase & Co. reported earnings of $5.07 per share for the quarter, surpassing analyst expectations of $4.72 by $0.35.
• The company declared a quarterly dividend of $1.50, an increase from the previous $1.40, representing an annualized yield of 1.9%.
• Fifteen analysts rated JPMorgan Chase & Co. as a buy, while others gave it hold and sell ratings, reflecting mixed investor sentiment.

JPMorgan Chase & Co. (NYSE:JPM) released its quarterly earnings results on Tuesday. The financial services provider reported $5.07 earnings per share for the quarter, beating analysts' consensus estimates of $4.83 by $0.24, Zacks reports. The business had revenue of $46.43 billion for the quarter, compared to the consensus estimate of $44.42 billion. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%.

JPMorgan Chase & Co. Price Performance

Shares of NYSE:JPM opened at $308.08 on Tuesday. The firm has a 50 day moving average of $301.89 and a 200-day moving average of $277.44. The stock has a market capitalization of $847.15 billion, a PE ratio of 15.81, a PEG ratio of 1.94 and a beta of 1.13. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.25. JPMorgan Chase & Co. has a 12 month low of $202.16 and a 12 month high of $318.01.

JPMorgan Chase & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, October 6th will be given a dividend of $1.50 per share. This is a positive change from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. This represents a $6.00 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Monday, October 6th. JPMorgan Chase & Co.'s payout ratio is 30.79%.

Insider Buying and Selling at JPMorgan Chase & Co.

In related news, Director Linda Bammann sold 9,500 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $297.94, for a total transaction of $2,830,430.00. Following the sale, the director directly owned 82,207 shares in the company, valued at $24,492,753.58. This trade represents a 10.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.47% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Brighton Jones LLC increased its stake in shares of JPMorgan Chase & Co. by 11.0% in the 4th quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider's stock valued at $11,682,000 after acquiring an additional 4,841 shares in the last quarter. Acorns Advisers LLC increased its stake in shares of JPMorgan Chase & Co. by 6.9% in the 1st quarter. Acorns Advisers LLC now owns 1,547 shares of the financial services provider's stock valued at $379,000 after acquiring an additional 100 shares in the last quarter. Ignite Planners LLC increased its stake in shares of JPMorgan Chase & Co. by 0.7% in the 2nd quarter. Ignite Planners LLC now owns 10,934 shares of the financial services provider's stock valued at $3,185,000 after acquiring an additional 78 shares in the last quarter. Jump Financial LLC bought a new stake in shares of JPMorgan Chase & Co. in the 2nd quarter valued at $1,475,000. Finally, Betterment LLC increased its stake in shares of JPMorgan Chase & Co. by 27.5% in the 2nd quarter. Betterment LLC now owns 1,970 shares of the financial services provider's stock valued at $571,000 after acquiring an additional 425 shares in the last quarter. Institutional investors and hedge funds own 71.55% of the company's stock.

Analysts Set New Price Targets

JPM has been the topic of several recent analyst reports. The Goldman Sachs Group lifted their target price on shares of JPMorgan Chase & Co. from $336.00 to $350.00 and gave the stock a "buy" rating in a report on Friday, October 3rd. Hsbc Global Res cut shares of JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a research note on Tuesday, July 8th. Daiwa Capital Markets boosted their price target on shares of JPMorgan Chase & Co. from $330.00 to $332.00 and gave the company an "outperform" rating in a research report on Wednesday, October 8th. Cowen reiterated a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, July 16th. Finally, Piper Sandler reiterated an "overweight" rating on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 15th. Fifteen investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, JPMorgan Chase & Co. presently has an average rating of "Hold" and an average price target of $316.00.

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.