JPMorgan Chase & Co. (NYSE:JPM) Sets New 52-Week High - Here's Why

Key Points

• JPMorgan Chase & Co. hit a new 52-week high of $302.33 during trading, ultimately closing at $301.08, reflecting strong investor interest.
• Despite the positive trading momentum, analysts have mixed ratings for the stock, with one strong buy, 13 buys, six holds, and three sells, indicating varying opinions on its future performance.
• In its last earnings report, the company beat profit expectations with $4.96 EPS, although revenue decreased by 10.5% year-over-year, raising concerns about future growth.

JPMorgan Chase & Co. (NYSE:JPM) shares hit a new 52-week high on Friday . The stock traded as high as $302.33 and last traded at $301.08, with a volume of 371297 shares changing hands. The stock had previously closed at $301.07.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on JPM. Evercore ISI set a $298.00 price target on shares of JPMorgan Chase & Co. and gave the stock an "outperform" rating in a report on Monday, July 7th. Piper Sandler reiterated an "overweight" rating on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 15th. Phillip Securities lowered JPMorgan Chase & Co. from a "moderate buy" rating to a "hold" rating in a report on Wednesday, July 16th. Royal Bank Of Canada set a $305.00 target price on shares of JPMorgan Chase & Co. and gave the company an "outperform" rating in a research note on Monday, June 30th. Finally, Truist Financial lifted their target price on shares of JPMorgan Chase & Co. from $280.00 to $290.00 and gave the company a "hold" rating in a research report on Wednesday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, six have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $288.68.

JPMorgan Chase & Co. Stock Up 0.1%

The firm has a market cap of $828.94 billion, a PE ratio of 15.47, a PEG ratio of 2.00 and a beta of 1.11. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.88 and a current ratio of 0.88. The company's 50-day simple moving average is $291.59 and its two-hundred day simple moving average is $265.26.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $4.96 EPS for the quarter, beating the consensus estimate of $4.48 by $0.48. The firm had revenue of $44.91 billion during 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 quarterly revenue was down 10.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $6.12 earnings per share. On average, analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

Insider Activity

In related news, COO Jennifer Piepszak sold 6,128 shares of the company's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $262.47, for a total transaction of $1,608,416.16. Following the completion of the transaction, the chief operating officer owned 62,455 shares in the company, valued at $16,392,563.85. This represents a 8.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.47% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in JPM. Harbor Asset Planning Inc. bought a new stake in JPMorgan Chase & Co. during the 2nd quarter valued at approximately $26,000. MJT & Associates Financial Advisory Group Inc. bought a new position in shares of JPMorgan Chase & Co. in the 1st quarter worth approximately $28,000. University of Illinois Foundation purchased a new position in shares of JPMorgan Chase & Co. in the 1st quarter valued at approximately $30,000. Mizuho Securities Co. Ltd. boosted its position in shares of JPMorgan Chase & Co. by 450.0% during the second quarter. Mizuho Securities Co. Ltd. now owns 110 shares of the financial services provider's stock valued at $32,000 after purchasing an additional 90 shares in the last quarter. Finally, Curat Global LLC purchased a new stake in JPMorgan Chase & Co. in the first quarter worth $33,000. 71.55% of the stock is owned by hedge funds and other institutional investors.

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.