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JPMorgan Chase & Co. (NYSE:JPM) Trading 1% Higher - Still a Buy?

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Key Points

  • JPMorgan posted strong Q2 results, reporting $6.14 EPS and $58.02 billion in revenue, both above expectations, with revenue up 27.7% from a year earlier. Management also highlighted record revenue across all business lines and $16.9 billion in net income.
  • The stock is benefiting from upbeat sentiment: JPMorgan shares were up about 1% on the day and are on track for an eighth straight weekly gain, while analysts have been raising price targets and mostly maintain Buy/Outperform views.
  • There are still some caution flags, as Jamie Dimon has warned about market and credit risks, even as the bank could see upside from AI-driven efficiency gains and potential fee opportunities from large international financing deals.
  • MarketBeat previews the top five stocks to own by August 1st.

JPMorgan Chase & Co. (NYSE:JPM) shares rose 1% during trading on Wednesday . The stock traded as high as $349.07 and last traded at $348.7180. 7,875,203 shares changed hands during mid-day trading, a decline of 22% from the average session volume of 10,116,424 shares. The stock had previously closed at $345.23.

JPMorgan Chase & Co. News Roundup

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

Analyst Ratings Changes

A number of research firms have weighed in on JPM. Royal Bank Of Canada upped their target price on JPMorgan Chase & Co. from $330.00 to $370.00 and gave the stock an "outperform" rating in a report on Wednesday, July 15th. Argus lifted their price target on JPMorgan Chase & Co. from $340.00 to $355.00 and gave the company a "buy" rating in a research report on Wednesday, April 15th. Daiwa Securities Group reduced their price target on JPMorgan Chase & Co. from $340.00 to $328.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 7th. Dbs Bank raised JPMorgan Chase & Co. to a "hold" rating in a research report on Tuesday, May 12th. Finally, Bank of America boosted their target price on shares of JPMorgan Chase & Co. from $408.00 to $420.00 and gave the company a "buy" rating in a report on Thursday, July 16th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and twelve have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $356.38.

Get Our Latest Report on JPMorgan Chase & Co.

JPMorgan Chase & Co. Trading Up 1.0%

The stock has a 50-day moving average of $320.69 and a two-hundred day moving average of $310.48. The company has a market cap of $934.39 billion, a P/E ratio of 14.94, a price-to-earnings-growth ratio of 1.51 and a beta of 0.99. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.86 and a current ratio of 0.85.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its earnings results on Tuesday, July 14th. The financial services provider reported $6.14 EPS for the quarter, topping the consensus estimate of $5.59 by $0.55. JPMorgan Chase & Co. had a return on equity of 18.23% and a net margin of 21.86%.The business had revenue of $58.02 billion for the quarter, compared to the consensus estimate of $50.72 billion. During the same period in the previous year, the company posted $4.96 earnings per share. The company's revenue for the quarter was up 27.7% compared to the same quarter last year. On average, equities research analysts predict that JPMorgan Chase & Co. will post 23.38 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Monday, July 6th will be given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Monday, July 6th. JPMorgan Chase & Co.'s dividend payout ratio is 25.71%.

Insider Buying and Selling at JPMorgan Chase & Co.

In other news, General Counsel Stacey Friedman sold 5,467 shares of the stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $330.73, for a total transaction of $1,808,100.91. Following the sale, the general counsel owned 40,961 shares in the company, valued at $13,547,031.53. This represents a 11.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jennifer Piepszak sold 4,919 shares of the firm's stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $309.42, for a total transaction of $1,522,036.98. Following the sale, the chief operating officer directly owned 85,082 shares of the company's stock, valued at $26,326,072.44. This trade represents a 5.47% decrease in their position. 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. In the last ninety days, insiders sold 18,876 shares of company stock worth $5,907,051. 0.41% of the stock is owned by corporate insiders.

Institutional Trading of JPMorgan Chase & Co.

Institutional investors and hedge funds have recently modified their holdings of the business. Fidelis Capital Partners LLC raised its position in shares of JPMorgan Chase & Co. by 7.9% during the 4th quarter. Fidelis Capital Partners LLC now owns 70,077 shares of the financial services provider's stock valued at $22,580,000 after purchasing an additional 5,101 shares during the period. Howard Capital Management Inc. increased its stake in JPMorgan Chase & Co. by 18.2% in the 4th quarter. Howard Capital Management Inc. now owns 25,784 shares of the financial services provider's stock worth $8,308,000 after buying an additional 3,976 shares in the last quarter. Newbridge Financial Services Group Inc. raised its holdings in JPMorgan Chase & Co. by 51.7% during 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 acquiring an additional 3,027 shares during the period. Brighton Jones LLC lifted 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 acquiring an additional 4,841 shares in the last quarter. Finally, KTF Investments LLC bought a new position in shares of JPMorgan Chase & Co. in the fourth quarter worth about $6,449,000. Institutional investors own 71.55% of the company's stock.

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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