JPMorgan Chase & Co. (NYSE:JPM) Trading 1.6% Higher After Analyst Upgrade

JPMorgan Chase & Co. (NYSE:JPM) shares rose 1.6% during mid-day trading on Thursday 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 $273.83. Approximately 9,583,437 shares were traded during trading, an increase of 1% from the average daily volume of 9,523,464 shares. The stock had previously closed at $269.52.

Other analysts have also issued research reports about the company. KGI Securities initiated coverage on JPMorgan Chase & Co. in a report on Sunday, April 13th. They issued a "hold" rating for the company. Wells Fargo & Company upped 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. Truist Financial raised their price target on JPMorgan Chase & Co. from $270.00 to $280.00 and gave the company a "hold" rating in a research note on Monday, June 2nd. Cowen reaffirmed a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Tuesday, May 20th. Finally, Royal Bank Of Canada reissued a "hold" rating on shares of JPMorgan Chase & Co. in a research report on Monday, June 2nd. Thirteen equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $271.70.

Insider Buying and Selling

In other news, COO Jennifer Piepszak sold 4,272 shares of the company's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $247.03, for a total value of $1,055,312.16. Following the sale, the chief operating officer now owns 50,197 shares in the company, valued at $12,400,164.91. This represents a 7.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Robin Leopold sold 1,250 shares of the company's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $246.92, for a total value of $308,650.00. Following the completion of the sale, the insider now owns 49,127 shares in the company, valued at approximately $12,130,438.84. This represents a 2.48% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 101,722 shares of company stock valued at $25,599,477 over the last 90 days. Insiders own 0.47% of the company's stock.

Hedge Funds Weigh In On JPMorgan Chase & Co.

Institutional investors and hedge funds have recently modified their holdings of the business. Norges Bank acquired a new stake in JPMorgan Chase & Co. in the 4th quarter valued at $8,310,884,000. GAMMA Investing LLC increased its stake in shares of JPMorgan Chase & Co. by 25,861.9% during 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 purchasing an additional 23,465,278 shares in the last quarter. Nuveen LLC acquired a new position in shares of JPMorgan Chase & Co. during the 1st quarter worth about $3,972,807,000. Northern Trust Corp lifted its stake in JPMorgan Chase & Co. by 15.4% in the 4th quarter. Northern Trust Corp now owns 33,845,676 shares of the financial services provider's stock valued at $8,113,147,000 after buying an additional 4,515,147 shares in the last quarter. Finally, Proficio Capital Partners LLC boosted its holdings in JPMorgan Chase & Co. by 34,259.3% in the 4th quarter. Proficio Capital Partners LLC now owns 3,499,499 shares of the financial services provider's stock worth $838,865,000 after buying an additional 3,489,314 shares during the last quarter. Hedge funds and other institutional investors own 71.55% of the company's stock.

JPMorgan Chase & Co. Trading Up 1.6%

The company has a 50 day simple moving average of $254.66 and a 200 day simple moving average of $251.00. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.89 and a current ratio of 0.89. The company has a market capitalization of $760.99 billion, a PE ratio of 13.44, a price-to-earnings-growth ratio of 2.72 and a beta of 1.08.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its quarterly earnings results on Friday, April 11th. The financial services provider reported $5.07 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $45.30 billion during the quarter, compared to analysts' expectations of $43.62 billion. During the same period in the previous year, the business earned $4.44 earnings per share. The firm's revenue for the quarter was up 8.0% on a year-over-year basis. Analysts anticipate that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, July 3rd will be given a $1.40 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.05%. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is presently 27.49%.

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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