JPMorgan Chase & Co. (NYSE:JPM) Trading 1.6% Higher - Here's What Happened

Key Points

• JPMorgan Chase & Co.'s stock price increased by 1.6% to $302.33, following a high of $303.69, with trading volume falling 28% below its average.
• The company recently reported a quarterly EPS of $5.07, beating estimates, with revenue increasing 8.8% year-over-year to $46.43 billion.
• JPMorgan announced an increase in its quarterly dividend from $1.40 to $1.50, yielding 2.0% annually, payable on October 31st.

JPMorgan Chase & Co. (NYSE:JPM)'s stock price shot up 1.6% on Monday . The stock traded as high as $303.69 and last traded at $302.33. 6,863,615 shares were traded during trading, a decline of 28% from the average session volume of 9,575,196 shares. The stock had previously closed at $297.56.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on JPM. Phillip Securities lowered JPMorgan Chase & Co. from a "moderate buy" rating to a "hold" rating in a research report on Wednesday, July 16th. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $366.00 target price on shares of JPMorgan Chase & Co. in a research report on Tuesday, October 14th. Cowen reaffirmed a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, July 16th. Daiwa Capital Markets upped their target price on JPMorgan Chase & Co. from $330.00 to $332.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 8th. Finally, Baird R W lowered JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a research report on Friday, June 27th. Fifteen equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat, JPMorgan Chase & Co. has an average rating of "Hold" and a consensus price target of $322.86.

JPMorgan Chase & Co. Stock Up 1.6%

The business has a fifty day moving average of $302.82 and a 200 day moving average of $279.12. The firm has a market cap of $831.32 billion, a P/E ratio of 14.97, a P/E/G ratio of 1.80 and a beta of 1.13. The company has a quick ratio of 0.88, a current ratio of 0.86 and a debt-to-equity ratio of 1.26.

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 EPS for the quarter, beating analysts' consensus estimates of $4.83 by $0.24. The business had revenue of $46.43 billion during the quarter, compared to the consensus estimate of $44.42 billion. JPMorgan Chase & Co. had a return on equity of 17.18% and a net margin of 20.90%.The firm's revenue was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $4.37 earnings per share. On average, equities research analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, October 6th will be issued a $1.50 dividend. This is a boost from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. This represents a $6.00 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Monday, October 6th. JPMorgan Chase & Co.'s dividend payout ratio is currently 29.72%.

Insider Activity at JPMorgan Chase & Co.

In other news, Director Linda Bammann sold 9,500 shares of JPMorgan Chase & Co. stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $297.94, for a total transaction of $2,830,430.00. Following the transaction, the director owned 82,207 shares in the company, valued at $24,492,753.58. The trade was a 10.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.47% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Kingstone Capital Partners Texas LLC boosted its position in JPMorgan Chase & Co. by 609,867.5% during the second quarter. Kingstone Capital Partners Texas LLC now owns 72,897,211 shares of the financial services provider's stock valued at $21,133,630,000 after purchasing an additional 72,885,260 shares during the last quarter. Geode Capital Management LLC boosted its position in JPMorgan Chase & Co. by 0.5% during the second quarter. Geode Capital Management LLC now owns 61,129,271 shares of the financial services provider's stock valued at $17,646,506,000 after purchasing an additional 300,160 shares during the last quarter. Norges Bank acquired a new position in JPMorgan Chase & Co. during the second quarter valued at approximately $10,295,209,000. Bank of New York Mellon Corp boosted its position in JPMorgan Chase & Co. by 1.9% during the first quarter. Bank of New York Mellon Corp now owns 24,801,153 shares of the financial services provider's stock valued at $6,083,723,000 after purchasing an additional 454,226 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in JPMorgan Chase & Co. by 2.7% during the first quarter. Goldman Sachs Group Inc. now owns 20,548,182 shares of the financial services provider's stock valued at $5,040,469,000 after purchasing an additional 548,853 shares during the last quarter. 71.55% of the stock is owned by institutional investors and hedge funds.

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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