JPMorgan Chase & Co. (NYSE:JPM) Shares Up 1.3% - Here's What Happened

Key Points

• JPMorgan Chase & Co. (NYSE:JPM) saw its stock price increase by 1.3% to $293.14, marking a significant drop in trading volume, with just over 1.2 million shares changing hands.
• Analysts have mixed views on JPMorgan, with several recent upgrades and downgrades; the stock holds a consensus rating of "Moderate Buy" and a price target averaging at $288.68.
• JPMorgan reported $4.96 EPS for the quarter, exceeding the expected $4.48, and its revenue of $44.91 billion surpassed estimates, although it was down 10.5% compared to the previous year.

JPMorgan Chase & Co. (NYSE:JPM)'s stock price shot up 1.3% on Monday . The stock traded as high as $293.27 and last traded at $293.14. 1,266,156 shares traded hands during trading, a decline of 87% from the average session volume of 10,069,874 shares. The stock had previously closed at $289.37.

Analyst Upgrades and Downgrades

JPM has been the subject of several research reports. Phillip Securities lowered shares of JPMorgan Chase & Co. from a "moderate buy" rating to a "hold" rating in a research report on Wednesday, July 16th. TD Cowen started coverage on JPMorgan Chase & Co. in a research note on Thursday, May 15th. They set a "buy" rating and a $305.00 price objective for the company. Bank of America upped their price target on JPMorgan Chase & Co. from $330.00 to $340.00 and gave the stock a "buy" rating in a research note on Wednesday, July 16th. Baird R W downgraded JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a research note on Friday, June 27th. Finally, HSBC restated a "reduce" rating and issued a $259.00 price target on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 8th. Three research analysts have rated the stock with a sell rating, seven have issued 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, the company has a consensus rating of "Moderate Buy" and a consensus price target of $288.68.

JPMorgan Chase & Co. Stock Up 1.6%

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 fifty day moving average price of $281.04 and a 200 day moving average price of $261.69. The firm has a market capitalization of $817.36 billion, a price-to-earnings ratio of 15.09, a PEG ratio of 1.94 and a beta of 1.11.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its earnings results 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 return on equity of 16.93% and a net margin of 20.52%. The company had revenue of $44.91 billion for the quarter, compared to the consensus estimate of $43.76 billion. During the same period in the previous year, the business earned $6.12 earnings per share. JPMorgan Chase & Co.'s quarterly revenue was down 10.5% compared to the same quarter last year. As a group, sell-side analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Thursday, July 3rd were paid a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 1.9%. The ex-dividend date was Thursday, July 3rd. JPMorgan Chase & Co.'s dividend payout ratio is presently 28.73%.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, COO Jennifer Piepszak sold 6,129 shares of the business's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $250.76, for a total transaction of $1,536,908.04. Following the completion of the sale, the chief operating officer owned 68,583 shares of the company's stock, valued at approximately $17,197,873.08. The trade was a 8.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Stacey Friedman sold 6,608 shares of the company's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $265.71, for a total value of $1,755,811.68. Following the completion of the sale, the general counsel directly owned 36,520 shares of the company's stock, valued at $9,703,729.20. The trade was a 15.32% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 71,200 shares of company stock valued at $18,060,015. 0.47% of the stock is owned by company insiders.

Hedge Funds Weigh In On JPMorgan Chase & Co.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Brighton Jones LLC grew its position in shares of JPMorgan Chase & Co. by 11.0% in the fourth quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider's stock valued at $11,682,000 after purchasing an additional 4,841 shares during the last quarter. Bank Pictet & Cie Europe AG grew its position in JPMorgan Chase & Co. by 0.6% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 192,182 shares of the financial services provider's stock worth $46,068,000 after buying an additional 1,229 shares in the last quarter. Highview Capital Management LLC DE grew its position in JPMorgan Chase & Co. by 16.1% during the fourth quarter. Highview Capital Management LLC DE now owns 13,623 shares of the financial services provider's stock worth $3,266,000 after buying an additional 1,893 shares in the last quarter. KKM Financial LLC grew its position in JPMorgan Chase & Co. by 3.9% during the fourth quarter. KKM Financial LLC now owns 16,854 shares of the financial services provider's stock worth $4,040,000 after buying an additional 640 shares in the last quarter. Finally, OLD Mission Capital LLC bought a new position in JPMorgan Chase & Co. during the fourth quarter worth about $225,000. 71.55% of the stock is owned by 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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