JPMorgan Chase & Co. (NYSE:JPM) Posts Quarterly Earnings Results, Beats Estimates By $0.48 EPS

JPMorgan Chase & Co. (NYSE:JPM) posted its quarterly earnings data on Tuesday. The financial services provider reported $4.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.48 by $0.48, Zacks reports. The business had revenue of $44.91 billion for the quarter, compared to the consensus estimate of $43.76 billion. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The company's revenue was down 10.5% compared to the same quarter last year. During the same period last year, the firm posted $6.12 earnings per share.

JPMorgan Chase & Co. Trading Up 0.4%

JPM stock traded up $1.09 during mid-day trading on Friday, hitting $290.99. 6,166,819 shares of the company were exchanged, compared to its average volume of 9,505,268. The company has a quick ratio of 0.89, a current ratio of 0.88 and a debt-to-equity ratio of 1.25. The firm has a market capitalization of $808.68 billion, a P/E ratio of 14.93, a PEG ratio of 2.59 and a beta of 1.10. The business has a fifty day simple moving average of $273.91 and a 200-day simple moving average of $257.56. JPMorgan Chase & Co. has a 12-month low of $190.90 and a 12-month high of $296.40.

JPMorgan Chase & Co. Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, July 3rd will be given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 1.92%. The ex-dividend date is Thursday, July 3rd. JPMorgan Chase & Co.'s payout ratio is currently 28.73%.

Insider Activity at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of the stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $250.00, for a total transaction of $2,375,000.00. Following the completion of the transaction, the director owned 91,539 shares of the company's stock, valued at $22,884,750. This trade represents a 9.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Jennifer Piepszak sold 6,129 shares of the stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $250.76, for a total transaction 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 trade represents a 8.20% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 71,200 shares of company stock worth $18,060,015. 0.47% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in JPMorgan Chase & Co. stock. Brighton Jones LLC grew its holdings in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 11.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 48,732 shares of the financial services provider's stock after purchasing an additional 4,841 shares during the quarter. Brighton Jones LLC's holdings in JPMorgan Chase & Co. were worth $11,682,000 at the end of the most recent reporting period. Institutional investors own 71.55% of the company's stock.

Analyst Ratings Changes

JPM has been the subject of a number of recent research reports. Bank of America increased their target price on shares of JPMorgan Chase & Co. from $330.00 to $340.00 and gave the company a "buy" rating in a research report on Wednesday. KGI Securities initiated coverage on shares of JPMorgan Chase & Co. in a research report on Sunday, April 13th. They issued a "hold" rating for the company. Wall Street Zen upgraded shares of JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a research report on Wednesday, May 14th. Wells Fargo & Company increased their target price on shares of JPMorgan Chase & Co. from $320.00 to $325.00 and gave the company an "overweight" rating in a research report on Wednesday. Finally, Citigroup set a $275.00 target price on shares of JPMorgan Chase & Co. and gave the company a "buy" rating in a research report on Monday, July 7th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, JPMorgan Chase & Co. has a consensus rating of "Moderate Buy" and a consensus price target of $288.68.

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.