JPMorgan Chase & Co. (NYSE:JPM) Sets New 1-Year High - Here's Why

Key Points

• JPMorgan Chase & Co. shares reached a new 52-week high of $301.29, closing at $299.73 with a trading volume of 919,270 shares.
• Despite strong earnings of $4.96 per share, the company reported a 10.5% decline in revenue year-over-year, totaling $44.91 billion.
• JPMorgan recently declared a quarterly dividend of $1.40 per share, reflecting a 1.88% yield, with a payout ratio of 28.73%.

JPMorgan Chase & Co. (NYSE:JPM) shares hit a new 52-week high on Tuesday . The company traded as high as $301.29 and last traded at $299.73, with a volume of 919270 shares changing hands. The stock had previously closed at $298.28.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on JPM shares. HSBC reaffirmed a "reduce" rating and set a $259.00 price target on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 8th. Robert W. Baird lowered JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 price objective on the stock. in a report on Friday, June 27th. Citigroup set a $275.00 price target on JPMorgan Chase & Co. and gave the company a "buy" rating in a research note on Monday, July 7th. Hsbc Global Res lowered JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a research note on Tuesday, July 8th. Finally, Evercore ISI set a $298.00 price objective on JPMorgan Chase & Co. and gave the stock an "outperform" rating in a research note on Monday, July 7th. Three analysts have rated the stock with a sell rating, seven have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, JPMorgan Chase & Co. presently has an average rating of "Moderate Buy" and a consensus target price of $288.68.

JPMorgan Chase & Co. Stock Performance

The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.89 and a current ratio of 0.88. The firm has a market cap of $827.81 billion, a P/E ratio of 15.30, a P/E/G ratio of 2.01 and a beta of 1.10. The business's 50-day simple moving average is $278.35 and its 200 day simple moving average is $260.40.

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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 revenue for the quarter was down 10.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $6.12 EPS. As a group, equities analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 3rd will be issued a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 1.88%. The ex-dividend date is Thursday, July 3rd. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is presently 28.73%.

Insider Buying and Selling at JPMorgan Chase & Co.

In related news, CFO Jeremy Barnum sold 40,014 shares of the stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $250.77, for a total value of $10,034,310.78. Following the sale, the chief financial officer directly owned 18,017 shares of the company's stock, valued at $4,518,123.09. This represents a 68.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Linda Bammann sold 9,500 shares of the stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $250.00, for a total transaction of $2,375,000.00. Following the completion of the sale, the director directly owned 91,539 shares in the company, valued at $22,884,750. This trade represents a 9.40% decrease in their ownership of the stock. 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 90 days. 0.47% of the stock is currently owned by insiders.

Hedge Funds Weigh In On JPMorgan Chase & Co.

A number of institutional investors have recently modified their holdings of the stock. Kingstone Capital Partners Texas LLC boosted its stake in shares of JPMorgan Chase & Co. by 609,867.5% during the second quarter. Kingstone Capital Partners Texas LLC now owns 72,897,211 shares of the financial services provider's stock valued at $21,133,630,000 after purchasing an additional 72,885,260 shares in the last quarter. Norges Bank acquired a new stake in JPMorgan Chase & Co. in the fourth quarter valued at approximately $8,310,884,000. GAMMA Investing LLC boosted its stake 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 acquiring an additional 23,465,278 shares in the last quarter. Nuveen LLC acquired a new stake in shares of JPMorgan Chase & Co. during the first quarter worth $3,972,807,000. Finally, Northern Trust Corp lifted its stake in shares of JPMorgan Chase & Co. by 15.4% during 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 buying an additional 4,515,147 shares during the period. 71.55% of the stock is owned by hedge funds and other institutional investors.

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.

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