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JPMorgan Chase & Co. (NYSE:JPM) Shares Up 1.1% - Here's What Happened

JPMorgan Chase & Co. logo with Finance background
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Key Points

  • JPMorgan shares rose about 1.1% to roughly $312 midday on Monday, trading below average volume with a market cap near $836 billion and a P/E around 14.9.
  • The bank reported a strong quarter, beating estimates with $5.94 EPS vs. $5.50 expected and revenue of $50.54 billion (up 10% year-over-year), with ROE 17.54% and a net margin of 20.66%.
  • Corporate developments include participation in a $6 billion financing for a stake in Kuwait’s oil pipeline and a payments fraud partnership with ACI; the firm also declared a $1.50 quarterly dividend while insiders (including the CEO) recently sold shares.
  • MarketBeat previews the top five stocks to own by May 1st.

JPMorgan Chase & Co. (NYSE:JPM)'s stock price shot up 1.1% during mid-day trading on Monday . The company traded as high as $312.58 and last traded at $311.7420. 7,901,926 shares were traded during mid-day trading, a decline of 26% from the average session volume of 10,619,938 shares. The stock had previously closed at $308.28.

JPMorgan Chase & Co. News Roundup

Here are the key news stories impacting JPMorgan Chase & Co. this week:

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on JPM. DZ Bank reissued a "neutral" rating on shares of JPMorgan Chase & Co. in a report on Wednesday, April 15th. Jefferies Financial Group boosted their target price on JPMorgan Chase & Co. from $310.00 to $320.00 and gave the company a "hold" rating in a report on Wednesday, April 15th. Argus boosted their target price on JPMorgan Chase & Co. from $340.00 to $355.00 and gave the company a "buy" rating in a report on Wednesday, April 15th. CICC Research began coverage on JPMorgan Chase & Co. in a report on Wednesday, January 14th. They issued an "outperform" rating and a $355.00 target price on the stock. Finally, Robert W. Baird set a $295.00 target price on JPMorgan Chase & Co. in a report on Wednesday, April 15th. Fifteen equities research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $336.16.

Read Our Latest Stock Report on JPM

JPMorgan Chase & Co. Stock Performance

The company has a debt-to-equity ratio of 1.30, a current ratio of 0.86 and a quick ratio of 0.85. The stock has a market capitalization of $836.16 billion, a PE ratio of 14.93, a P/E/G ratio of 1.51 and a beta of 1.05. The stock has a 50 day moving average of $298.79 and a two-hundred day moving average of $306.85.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its quarterly earnings results on Tuesday, April 14th. The financial services provider reported $5.94 earnings per share for the quarter, beating analysts' consensus estimates of $5.50 by $0.44. JPMorgan Chase & Co. had a return on equity of 17.54% and a net margin of 20.66%.The firm had revenue of $50.54 billion for the quarter, compared to the consensus estimate of $48.30 billion. During the same period in the previous year, the business earned $5.07 earnings per share. The company's revenue for the quarter was up 10.0% compared to the same quarter last year. Research analysts expect that JPMorgan Chase & Co. will post 22.34 EPS for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Monday, April 6th will be paid a $1.50 dividend. The ex-dividend date is Monday, April 6th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.9%. JPMorgan Chase & Co.'s payout ratio is 28.74%.

Insider Transactions at JPMorgan Chase & Co.

In related news, CEO Troy L. Rohrbaugh sold 50,000 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $307.11, for a total value of $15,355,500.00. Following the sale, the chief executive officer directly owned 111,279 shares in the company, valued at $34,174,893.69. The trade was a 31.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Jennifer Piepszak sold 9,136 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $306.56, for a total value of $2,800,732.16. Following the completion of the sale, the chief operating officer owned 90,001 shares in the company, valued at approximately $27,590,706.56. This trade represents a 9.22% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 71,908 shares of company stock valued at $22,065,882. 0.41% of the stock is owned by company insiders.

Institutional Trading of JPMorgan Chase & Co.

A number of institutional investors have recently bought and sold shares of the company. Howard Capital Management Inc. increased its stake in JPMorgan Chase & Co. by 18.2% in the fourth quarter. Howard Capital Management Inc. now owns 25,784 shares of the financial services provider's stock valued at $8,308,000 after purchasing an additional 3,976 shares during the last quarter. Triangle Securities Wealth Management increased its stake in JPMorgan Chase & Co. by 14.1% in the third quarter. Triangle Securities Wealth Management now owns 25,822 shares of the financial services provider's stock valued at $8,145,000 after purchasing an additional 3,191 shares during the last quarter. Newbridge Financial Services Group Inc. increased its stake in JPMorgan Chase & Co. by 51.7% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 8,883 shares of the financial services provider's stock valued at $2,862,000 after purchasing an additional 3,027 shares during the last quarter. Andra AP fonden increased its stake in JPMorgan Chase & Co. by 3.2% in the third quarter. Andra AP fonden now owns 107,700 shares of the financial services provider's stock valued at $33,972,000 after purchasing an additional 3,300 shares during the last quarter. Finally, Banco Santander S.A. increased its stake in JPMorgan Chase & Co. by 9.0% in the third quarter. Banco Santander S.A. now owns 452,612 shares of the financial services provider's stock valued at $142,767,000 after purchasing an additional 37,550 shares during the last quarter. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

About JPMorgan Chase & Co.

(Get Free Report)

JPMorgan Chase & Co NYSE: JPM is a diversified global financial services firm headquartered in New York City. The company provides a wide range of banking and financial products and services to consumers, small businesses, corporations, governments and institutional investors worldwide. Its operations span retail banking, commercial lending, investment banking, asset management, payments and card services, and treasury and securities services.

The firm's principal business activities are organized across several core lines: Consumer & Community Banking, which offers deposit accounts, mortgages, auto loans, credit cards and branch and digital banking under the Chase brand; Corporate & Investment Banking, which provides capital markets, advisory, underwriting, trading and risk management services; Commercial Banking, delivering lending, treasury and capital solutions to middle-market and corporate clients; and Asset & Wealth Management, which offers investment management, private banking and retirement services to institutions and high-net-worth individuals.

Further Reading

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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