Morgan Stanley Increases JPMorgan Chase & Co. (NYSE:JPM) Price Target to $298.00

JPMorgan Chase & Co. (NYSE:JPM) had its target price boosted by Morgan Stanley from $296.00 to $298.00 in a research report released on Wednesday morning,Benzinga reports. They currently have an equal weight rating on the financial services provider's stock.

JPM has been the subject of a number of other research reports. Hsbc Global Res cut shares of JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a research report on Tuesday, July 8th. Piper Sandler reissued an "overweight" rating on shares of JPMorgan Chase & Co. in a research report on Tuesday. TD Cowen started coverage on shares of JPMorgan Chase & Co. in a research report on Thursday, May 15th. They issued a "buy" rating and a $305.00 target price for the company. TD Securities reissued a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, June 4th. Finally, Wells Fargo & Company reissued an "overweight" rating on shares of JPMorgan Chase & Co. in a research report on Monday, July 7th. Three analysts have rated the stock with a sell rating, seven have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, JPMorgan Chase & Co. has a consensus rating of "Moderate Buy" and a consensus price target of $288.68.

JPMorgan Chase & Co. Stock Performance

JPM stock traded up $1.98 during midday trading on Wednesday, reaching $291.88. 2,990,324 shares of the company were exchanged, compared to its average volume of 9,493,811. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.88 and a quick ratio of 0.89. The business has a 50-day moving average price of $273.91 and a two-hundred day moving average price of $257.56. JPMorgan Chase & Co. has a one year low of $190.90 and a one year high of $296.40. The firm has a market capitalization of $811.16 billion, a price-to-earnings ratio of 14.98, a price-to-earnings-growth ratio of 2.59 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $4.96 EPS for the quarter, topping analysts' consensus estimates of $4.48 by $0.48. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. 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 posted $6.12 earnings per share. The company's revenue for the quarter was down 10.5% compared to the same quarter last year. Equities research analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

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

Insiders Place Their Bets

In other news, CFO Jeremy Barnum sold 40,014 shares of the company's stock in a transaction that occurred on 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 completion of the transaction, the chief financial officer owned 18,017 shares of the company's stock, valued at $4,518,123.09. This represents a 68.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Linda Bammann sold 9,500 shares of the company's stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $250.00, for a total value of $2,375,000.00. Following the completion of the transaction, the director directly owned 91,539 shares of the company's stock, valued at $22,884,750. This represents a 9.40% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 71,200 shares of company stock worth $18,060,015 in the last ninety days. Insiders own 0.47% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. LCM Capital Management Inc boosted its holdings in JPMorgan Chase & Co. by 0.9% in the second quarter. LCM Capital Management Inc now owns 3,847 shares of the financial services provider's stock valued at $1,115,000 after acquiring an additional 36 shares during the last quarter. Lakeshore Financial Planning Inc. boosted its holdings in JPMorgan Chase & Co. by 0.4% in the second quarter. Lakeshore Financial Planning Inc. now owns 8,417 shares of the financial services provider's stock valued at $2,441,000 after acquiring an additional 37 shares during the last quarter. Western Financial Corp CA boosted its holdings in JPMorgan Chase & Co. by 1.5% in the second quarter. Western Financial Corp CA now owns 2,642 shares of the financial services provider's stock valued at $766,000 after acquiring an additional 38 shares during the last quarter. Hurlow Wealth Management Group Inc. boosted its holdings in JPMorgan Chase & Co. by 0.7% in the fourth quarter. Hurlow Wealth Management Group Inc. now owns 5,538 shares of the financial services provider's stock valued at $1,328,000 after acquiring an additional 40 shares during the last quarter. Finally, Wimmer Associates 1 LLC boosted its holdings in JPMorgan Chase & Co. by 1.0% in the fourth quarter. Wimmer Associates 1 LLC now owns 4,114 shares of the financial services provider's stock valued at $986,000 after acquiring an additional 40 shares during the last quarter. Institutional investors and hedge funds 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.