JPMorgan Chase & Co. (NYSE:JPM) Stock Price Up 2.1% Following Analyst Upgrade

JPMorgan Chase & Co. (NYSE:JPM)'s stock price was up 2.1% during mid-day trading on Wednesday after Bank of America raised their price target on the stock from $300.00 to $325.00. Bank of America currently has a buy rating on the stock. JPMorgan Chase & Co. traded as high as $277.72 and last traded at $275.30. Approximately 2,913,025 shares traded hands during trading, a decline of 71% from the average daily volume of 10,203,539 shares. The stock had previously closed at $269.52.

Other equities analysts have also recently issued reports about the company. Wells Fargo & Company increased their target price on JPMorgan Chase & Co. from $300.00 to $320.00 and gave the stock an "overweight" rating in a report on Tuesday, June 10th. UBS Group increased their price objective on JPMorgan Chase & Co. from $277.00 to $305.00 and gave the stock a "buy" rating in a research note on Thursday, April 17th. TD Cowen initiated coverage on shares of JPMorgan Chase & Co. in a research note on Thursday, May 15th. They issued a "buy" rating and a $305.00 target price on the stock. Wall Street Zen raised shares of JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a report on Wednesday, May 14th. Finally, TD Securities reissued a "buy" rating on shares of JPMorgan Chase & Co. in a report on Wednesday, June 4th. Thirteen investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $271.70.

Insider Activity

In other JPMorgan Chase & Co. news, CFO Jeremy Barnum sold 40,014 shares of JPMorgan Chase & Co. stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $250.77, for a total transaction of $10,034,310.78. Following the completion of the sale, the chief financial officer now owns 18,017 shares of the company's stock, valued at approximately $4,518,123.09. The trade was a 68.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Jennifer Piepszak sold 4,272 shares of the company's stock in a transaction on Monday, March 24th. The shares were sold at an average price of $247.03, for a total transaction of $1,055,312.16. Following the sale, the chief operating officer now owns 50,197 shares of the company's stock, valued at $12,400,164.91. The trade was a 7.84% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 101,722 shares of company stock valued at $25,599,477 over the last 90 days. 0.47% of the stock is owned by company insiders.

Institutional Trading of JPMorgan Chase & Co.

A number of hedge funds have recently modified their holdings of JPM. Geode Capital Management LLC increased its position in shares of JPMorgan Chase & Co. by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 59,220,603 shares of the financial services provider's stock valued at $14,161,171,000 after buying an additional 876,417 shares in the last quarter. Norges Bank bought a new position in JPMorgan Chase & Co. during the fourth quarter worth about $8,310,884,000. Northern Trust Corp grew its stake in JPMorgan Chase & Co. by 15.4% in the fourth quarter. Northern Trust Corp now owns 33,845,676 shares of the financial services provider's stock valued at $8,113,147,000 after acquiring an additional 4,515,147 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of JPMorgan Chase & Co. by 1.9% in the first quarter. Bank of New York Mellon Corp now owns 24,801,153 shares of the financial services provider's stock worth $6,083,723,000 after acquiring an additional 454,226 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of 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 worth $5,778,289,000 after acquiring an additional 23,465,278 shares in the last quarter. 71.55% of the stock is currently owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Stock Performance

The company has a debt-to-equity ratio of 1.23, a current ratio of 0.89 and a quick ratio of 0.89. The company has a market cap of $766.05 billion, a price-to-earnings ratio of 13.52, a price-to-earnings-growth ratio of 2.74 and a beta of 1.08. The stock has a 50-day moving average price of $253.87 and a 200 day moving average price of $250.84.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its earnings results on Friday, April 11th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.63 by $0.44. JPMorgan Chase & Co. had a return on equity of 16.88% and a net margin of 21.21%. The business had revenue of $45.30 billion during the quarter, compared to analysts' expectations of $43.62 billion. During the same period in the prior year, the business earned $4.44 EPS. JPMorgan Chase & Co.'s revenue for the quarter was up 8.0% compared to the same quarter last year. As a group, analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, July 3rd will be given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 2.03%. The ex-dividend date of this dividend is Thursday, July 3rd. JPMorgan Chase & Co.'s dividend payout ratio is 27.49%.

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.

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