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

JPMorgan Chase & Co. (NYSE:JPM) had its target price increased by Truist Financial from $270.00 to $280.00 in a research report released on Monday,Benzinga reports. The firm currently has a hold rating on the financial services provider's stock.

Other research analysts have also recently issued reports about the company. Morgan Stanley raised their price objective on JPMorgan Chase & Co. from $235.00 to $236.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 20th. TD Securities raised their price objective on JPMorgan Chase & Co. from $305.00 to $315.00 and gave the stock a "buy" rating in a research note on Tuesday, May 20th. TD Cowen assumed coverage on JPMorgan Chase & Co. in a research note on Thursday, May 15th. They issued a "buy" rating and a $305.00 price objective for the company. Robert W. Baird raised their target price on JPMorgan Chase & Co. from $220.00 to $235.00 and gave the stock a "neutral" rating in a report on Tuesday, May 20th. Finally, UBS Group raised their target price on JPMorgan Chase & Co. from $277.00 to $305.00 and gave the stock a "buy" rating in a report on Thursday, April 17th. Thirteen investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $267.15.

JPMorgan Chase & Co. Stock Up 0.6%

Shares of NYSE JPM traded up $1.67 during mid-day trading on Monday, reaching $266.33. 6,996,844 shares of the company were exchanged, compared to its average volume of 9,552,754. The company has a quick ratio of 0.89, a current ratio of 0.88 and a debt-to-equity ratio of 1.24. The stock has a market cap of $740.16 billion, a price-to-earnings ratio of 13.49, a P/E/G ratio of 2.83 and a beta of 1.07. JPMorgan Chase & Co. has a 1 year low of $190.88 and a 1 year high of $280.25. The firm has a 50-day moving average of $246.13 and a 200 day moving average of $249.37.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its quarterly earnings results on Friday, April 11th. The financial services provider reported $5.07 EPS for the quarter, beating analysts' consensus estimates of $4.63 by $0.44. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. The company had revenue of $45.30 billion during the quarter, compared to analysts' expectations of $43.62 billion. During the same period last year, the business posted $4.44 earnings per share. The firm's revenue was up 8.0% compared to the same quarter last year. On average, research analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, July 3rd will be given a $1.40 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.10%. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is presently 27.49%.

Insider Buying and Selling at JPMorgan Chase & Co.

In related news, General Counsel Stacey Friedman sold 2,821 shares of JPMorgan Chase & Co. stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $265.71, for a total transaction of $749,567.91. Following the completion of the transaction, the general counsel now directly owns 68,757 shares of the company's stock, valued at approximately $18,269,422.47. The trade was a 3.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Robin Leopold sold 1,250 shares of JPMorgan Chase & Co. stock in a transaction on Monday, March 24th. The stock was sold at an average price of $246.92, for a total value of $308,650.00. Following the transaction, the insider now directly owns 49,127 shares of the company's stock, valued at approximately $12,130,438.84. This represents a 2.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 95,594 shares of company stock worth $23,991,061. 0.47% of the stock is currently owned by insiders.

Hedge Funds Weigh In On JPMorgan Chase & Co.

Hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC increased its position in JPMorgan Chase & Co. by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 59,220,603 shares of the financial services provider's stock worth $14,161,171,000 after buying an additional 876,417 shares in the last quarter. Norges Bank acquired a new position in shares of JPMorgan Chase & Co. during the fourth quarter worth about $8,310,884,000. Northern Trust Corp lifted its stake in shares of JPMorgan Chase & Co. by 15.4% in the fourth quarter. Northern Trust Corp now owns 33,845,676 shares of the financial services provider's stock worth $8,113,147,000 after acquiring an additional 4,515,147 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of JPMorgan Chase & Co. by 1.9% in the first quarter. Bank of New York Mellon Corp now owns 24,801,153 shares of the financial services provider's stock worth $6,083,723,000 after acquiring an additional 454,226 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in JPMorgan Chase & Co. by 25,861.9% in the first quarter. GAMMA Investing LLC now owns 23,556,011 shares of the financial services provider's stock valued at $5,778,289,000 after buying an additional 23,465,278 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.