JPMorgan Chase & Co. (NYSE:JPM) Shares Up 1.3% After Better-Than-Expected Earnings

Key Points

• JPMorgan Chase & Co. shares rose by 1.3% after the company reported quarterly earnings of $5.07 EPS, exceeding analyst expectations of $4.83.
• The firm increased its quarterly dividend from $1.40 to $1.50, resulting in a dividend yield of 2.0% and a $6.00 annualized dividend.
• Several analysts have set new price targets for the stock, with Goldman Sachs issuing a price objective of $366.00 and Barclays increasing their target to $342.00.

JPMorgan Chase & Co. (NYSE:JPM)'s stock price traded up 1.3% on Wednesday after the company announced better than expected quarterly earnings. The stock traded as high as $312.12 and last traded at $305.94. 11,314,847 shares changed hands during trading, an increase of 18% from the average session volume of 9,576,562 shares. The stock had previously closed at $302.08.

The financial services provider reported $5.07 EPS for the quarter, beating analysts' consensus estimates of $4.83 by $0.24. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The business had revenue of $46.43 billion during the quarter, compared to analysts' expectations of $44.42 billion. During the same quarter in the prior year, the company earned $4.37 EPS. The firm's quarterly revenue was up 8.8% on a year-over-year basis.

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, October 6th will be issued a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Monday, October 6th. This is a positive change from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. JPMorgan Chase & Co.'s dividend payout ratio is 30.79%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. The Goldman Sachs Group restated a "buy" rating and issued a $366.00 price objective on shares of JPMorgan Chase & Co. in a report on Tuesday. DZ Bank reiterated a "neutral" rating on shares of JPMorgan Chase & Co. in a research report on Wednesday. Piper Sandler reiterated an "overweight" rating on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 15th. Barclays boosted their price objective on shares of JPMorgan Chase & Co. from $330.00 to $342.00 and gave the company an "overweight" rating in a research report on Wednesday. Finally, Citigroup boosted their price objective on shares of JPMorgan Chase & Co. from $275.00 to $325.00 and gave the company a "neutral" rating in a research report on Wednesday, September 24th. Fifteen research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $319.40.

Insider Buying and Selling at JPMorgan Chase & Co.

In related news, Director Linda Bammann sold 9,500 shares of the business's stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $297.94, for a total value of $2,830,430.00. Following the sale, the director owned 82,207 shares of the company's stock, valued at $24,492,753.58. The trade was a 10.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.47% of the company's stock.

Institutional Trading of JPMorgan Chase & Co.

Several institutional investors have recently modified their holdings of the business. Spirit of America Management Corp NY grew its stake in shares of JPMorgan Chase & Co. by 0.5% in the third quarter. Spirit of America Management Corp NY now owns 21,992 shares of the financial services provider's stock worth $6,937,000 after purchasing an additional 100 shares during the last quarter. SFM LLC boosted its position in JPMorgan Chase & Co. by 9.1% during the third quarter. SFM LLC now owns 1,140 shares of the financial services provider's stock valued at $360,000 after acquiring an additional 95 shares during the last quarter. Blue Zone Wealth Advisors LLC boosted its position in JPMorgan Chase & Co. by 51.7% during the third quarter. Blue Zone Wealth Advisors LLC now owns 1,461 shares of the financial services provider's stock valued at $461,000 after acquiring an additional 498 shares during the last quarter. Secured Retirement Advisors LLC boosted its position in JPMorgan Chase & Co. by 5.2% during the third quarter. Secured Retirement Advisors LLC now owns 7,946 shares of the financial services provider's stock valued at $2,507,000 after acquiring an additional 392 shares during the last quarter. Finally, Granite Bay Wealth Management LLC boosted its position in JPMorgan Chase & Co. by 1.4% during the third quarter. Granite Bay Wealth Management LLC now owns 25,194 shares of the financial services provider's stock valued at $7,947,000 after acquiring an additional 351 shares during the last quarter. Institutional investors own 71.55% of the company's stock.

JPMorgan Chase & Co. Stock Up 1.3%

The firm's fifty day moving average price is $302.11 and its two-hundred day moving average price is $277.61. The stock has a market cap of $841.24 billion, a price-to-earnings ratio of 15.70, a price-to-earnings-growth ratio of 1.99 and a beta of 1.13. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.88 and a quick ratio of 0.88.

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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