JPMorgan Chase & Co. (NYSE:JPM) Stock Price Up 3.1% After Dividend Announcement

Key Points

• Dividend announced: JPMorgan declared a $1.50 per-share dividend (annualized $6.00) with an ex-dividend and record date of Tuesday, January 6 and a payment on January 31, implying a 1.9% yield.
• Market reaction: Shares rose about 3.1% midday (trading as high as $311.19, last around $309.90) on volume of ~18.1M shares, a ~93% increase versus average daily volume.
• Fundamentals and analyst view: JPM beat Q3 estimates with $5.07 EPS and $47.12B revenue, has a market cap of ~$844B and an average analyst consensus rating of "Hold" with a $325.48 price target.

JPMorgan Chase & Co. (NYSE:JPM) shares rose 3.1% during mid-day trading on Wednesday following a dividend announcement from the company. The company traded as high as $311.19 and last traded at $309.8970. Approximately 18,120,441 shares were traded during mid-day trading, an increase of 93% from the average daily volume of 9,370,230 shares. The stock had previously closed at $300.51.The newly announced dividend which will be paid on Saturday, January 31st. Investors of record on Tuesday, January 6th will be issued a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Tuesday, January 6th. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is presently 29.72%.

Analyst Ratings Changes

JPM has been the subject of a number of analyst reports. Cowen restated a "buy" rating on shares of JPMorgan Chase & Co. in a report on Tuesday. Loop Capital set a $310.00 target price on shares of JPMorgan Chase & Co. in a research report on Thursday, October 23rd. Royal Bank Of Canada reaffirmed a "buy" rating and set a $343.00 price target on shares of JPMorgan Chase & Co. in a report on Tuesday, October 14th. Zacks Research lowered shares of JPMorgan Chase & Co. from a "strong-buy" rating to a "hold" rating in a report on Tuesday, November 18th. Finally, TD Cowen upped their price objective on shares of JPMorgan Chase & Co. from $350.00 to $370.00 and gave the company a "buy" rating in a research report on Friday, October 3rd. Fifteen equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, JPMorgan Chase & Co. has an average rating of "Hold" and a consensus price target of $325.48.

JPMorgan Chase & Co. Stock Performance

The stock has a market capitalization of $843.62 billion, a P/E ratio of 15.35, a price-to-earnings-growth ratio of 1.63 and a beta of 1.08. The company has a fifty day moving average of $306.41 and a two-hundred day moving average of $295.75. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.86 and a quick ratio of 0.86.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its quarterly earnings data on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share for the quarter, topping the consensus estimate of $4.83 by $0.24. JPMorgan Chase & Co. had a net margin of 20.90% and a return on equity of 17.18%. The firm had revenue of $47.12 billion for the quarter, compared to analyst estimates of $44.42 billion. During the same quarter in the prior year, the business earned $4.37 earnings per share. JPMorgan Chase & Co.'s quarterly revenue was up 8.8% on a year-over-year basis. On average, equities analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

Insider Buying and Selling at JPMorgan Chase & Co.

In other news, insider Robin Leopold sold 966 shares of the stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $311.92, for a total transaction of $301,314.72. Following the sale, the insider directly owned 58,479 shares in the company, valued at approximately $18,240,769.68. This represents a 1.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.47% of the company's stock.

Institutional Investors Weigh In On JPMorgan Chase & Co.

Large investors have recently added to or reduced their stakes in the stock. Harbor Asset Planning Inc. bought a new stake in JPMorgan Chase & Co. in the 2nd quarter valued at about $26,000. University of Illinois Foundation bought a new stake in shares of JPMorgan Chase & Co. during the first quarter valued at approximately $30,000. Mizuho Securities Co. Ltd. raised its holdings in shares of JPMorgan Chase & Co. by 450.0% during the second quarter. Mizuho Securities Co. Ltd. now owns 110 shares of the financial services provider's stock valued at $32,000 after buying an additional 90 shares during the last quarter. Mountain Hill Investment Partners Corp. acquired a new position in shares of JPMorgan Chase & Co. during the third quarter worth approximately $32,000. Finally, Family Legacy Financial Solutions LLC grew its holdings in JPMorgan Chase & Co. by 92.6% in the 3rd quarter. Family Legacy Financial Solutions LLC now owns 104 shares of the financial services provider's stock worth $33,000 after buying an additional 50 shares in the last quarter. 71.55% of the stock is owned by institutional investors and hedge funds.

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.

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.