JPMorgan Chase & Co. (NYSE:JPM) Trading 1.5% Higher - Time to Buy?

Key Points

• JPMorgan shares rose about 1.5% in mid-day trading, with the stock last changing hands near $301.32 after trading as high as $299.55. Volume was slightly below average.
• The bank’s second-quarter outlook remains upbeat, with expectations for stronger fee income from markets revenue and investment banking activity, while analysts continue to view JPMorgan as a resilient large-cap financial name.
• JPMorgan also beat earnings expectations in its latest quarter, reporting $5.94 EPS on $50.54 billion in revenue, and it declared a quarterly dividend of $1.50 per share, equal to a 2.0% annualized yield.

JPMorgan Chase & Co. (NYSE:JPM) traded up 1.5% during mid-day trading on Tuesday . The stock traded as high as $299.55 and last traded at $301.3180. 7,922,137 shares changed hands during trading, a decline of 4% from the average session volume of 8,247,111 shares. The stock had previously closed at $296.8380.

Key Stories Impacting JPMorgan Chase & Co.

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

• Positive Sentiment: JPMorgan’s second-quarter outlook was described as strong, with fee income likely to rise as markets revenue and investment banking fees benefit from volatility and deal-making. JPMorgan's Bullish Q2 Outlook Highlights Fee Income Potential
• Positive Sentiment: JPMorgan CEO Jamie Dimon said the bank could consider a roughly $20 billion acquisition, which would be the largest deal of his tenure and signals confidence in JPMorgan’s balance sheet and growth strategy. JPMorgan Weighs US$20b Deal While Expanding In Europe And Crypto Debate
• Positive Sentiment: Analysts and research notes continue to highlight JPMorgan as a strong large-cap financial holding, with support from its diversified banking model and resilience in a higher-rate environment. If the Fed Hikes Again, These 3 Financial Stocks Should Still Hold Up

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Keefe, Bruyette & Woods restated an "outperform" rating on shares of JPMorgan Chase & Co. in a research note on Tuesday, February 24th. The Goldman Sachs Group set a $361.00 price target on JPMorgan Chase & Co. in a research report on Tuesday, April 14th. Argus increased their price target on JPMorgan Chase & Co. from $340.00 to $355.00 and gave the stock a "buy" rating in a research report on Wednesday, April 15th. Wells Fargo & Company dropped their price target on JPMorgan Chase & Co. from $360.00 to $350.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 17th. Finally, UBS Group dropped their price target on JPMorgan Chase & Co. from $380.00 to $375.00 in a research report on Wednesday, May 6th. Fifteen equities research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company's stock. According to data from MarketBeat.com, JPMorgan Chase & Co. presently has a consensus rating of "Moderate Buy" and a consensus target price of $339.08.

JPMorgan Chase & Co. Trading Up 1.6%

The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 1.30. The stock has a market capitalization of $807.38 billion, a price-to-earnings ratio of 14.43, a PEG ratio of 1.46 and a beta of 1.00. The firm has a 50-day moving average of $302.65 and a 200 day moving average of $306.58.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its earnings results on Tuesday, April 14th. The financial services provider reported $5.94 EPS for the quarter, beating the consensus estimate of $5.50 by $0.44. JPMorgan Chase & Co. had a return on equity of 17.54% and a net margin of 20.66%.The firm had revenue of $50.54 billion for the quarter, compared to analysts' expectations of $48.30 billion. During the same period last year, the firm earned $5.07 EPS. The firm's revenue was up 10.0% compared to the same quarter last year. As a group, equities analysts predict that JPMorgan Chase & Co. will post 22.4 EPS for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Monday, July 6th will be paid a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Monday, July 6th. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is presently 28.74%.

Insider Buying and Selling

In other news, COO Jennifer Piepszak sold 4,919 shares of the firm's stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $309.42, for a total transaction of $1,522,036.98. Following the completion of 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. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Jeremy Barnum sold 3,022 shares of the stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $309.41, for a total value of $935,037.02. Following the completion of the sale, the chief financial officer owned 32,438 shares of the company's stock, valued at $10,036,641.58. The trade was a 8.52% 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 90 days, insiders sold 28,589 shares of company stock valued at $8,747,496. 0.41% of the stock is owned by insiders.

Hedge Funds Weigh In On JPMorgan Chase & Co.

Several institutional investors have recently bought and sold shares of JPM. 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. Acorns Advisers LLC boosted its holdings in JPMorgan Chase & Co. by 6.9% during the first quarter. Acorns Advisers LLC now owns 1,547 shares of the financial services provider's stock valued at $379,000 after purchasing an additional 100 shares in the last quarter. Ignite Planners LLC grew its position in JPMorgan Chase & Co. by 0.7% during the 2nd quarter. Ignite Planners LLC now owns 10,934 shares of the financial services provider's stock worth $3,185,000 after acquiring an additional 78 shares during the last quarter. Jump Financial LLC bought a new stake in JPMorgan Chase & Co. during the 2nd quarter worth approximately $1,475,000. Finally, Betterment LLC raised its position in JPMorgan Chase & Co. by 27.5% in the 2nd quarter. Betterment LLC now owns 1,970 shares of the financial services provider's stock worth $571,000 after purchasing an additional 425 shares during the last quarter. 71.55% of the stock is currently owned by institutional investors.

About JPMorgan Chase & Co.

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.

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