JPMorgan Chase & Co. (NYSE:JPM) Shares Up 1.2% - What's Next?

Key Points

• JPMorgan shares rose 1.2% to approximately $339.49, giving the bank a market capitalization of about $902 billion.
• The bank reported strong underlying performance, including $15.3 billion in quarterly net income and more than 650,000 new checking accounts, but EPS and revenue missed analyst expectations at $5.75 and $50.17 billion, respectively.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and a $365.45 price target, although concerns about leverage, valuation, inflation and elevated asset prices present risks.

JPMorgan Chase & Co. (NYSE:JPM)'s stock price traded up 1.2% during trading on Friday. The company traded as high as $344.40 and last traded at $339.4890. Approximately 8,278,907 shares traded hands during trading, a decline of 10% from the average daily volume of 9,211,677 shares. The stock had previously closed at $335.53.

More JPMorgan Chase & Co. News

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

• Positive Sentiment: JPMorgan added more than 650,000 net new checking accounts in the third quarter and generated $15.3 billion in net income, highlighting continued franchise strength and customer acquisition. JPMorgan Chase: 3 Key Takeaways for Long-Term Investors
• Positive Sentiment: Morgan Stanley, Royal Bank of Canada and Robert W. Baird analysts offered bullish assessments, including positive ratings or expectations for further share-price appreciation. Morgan Stanley Forecasts Strong Price Appreciation
• Positive Sentiment: The bank’s preferred-stock dividend declarations reinforce its ongoing capital-return profile, although they primarily benefit preferred shareholders. JPMorganChase Declares Preferred Stock Dividends
• Neutral Sentiment: JPMorgan is reportedly competing for corporate deposits with programmable-liquidity offerings. The strategy could support deposit retention and fee opportunities, but may also increase funding costs as banks compete more aggressively. Banks Offer CFOs Programmable Liquidity
• Negative Sentiment: Third-quarter EPS and revenue fell short of consensus expectations, raising questions about whether the bank’s strong earnings outlook is already reflected in its valuation.
• Negative Sentiment: Seeking Alpha downgraded JPMorgan to Hold, citing leverage as a potential constraint on future earnings. Citigroup also lowered its price target to $350 and maintained a Neutral rating. JPMorgan Chase: Leverage A Concern to Future Earnings
• Negative Sentiment: CEO Jamie Dimon warned of inflation, elevated asset prices and a higher-than-expected risk of market trouble. He also said market activity was moderating, potentially pressuring trading and investment-banking revenue. Jamie Dimon Warns About Inflation and Asset Prices

Analysts Set New Price Targets

Several analysts have issued reports on the company. UBS Group dropped their price target on JPMorgan Chase & Co. from $400.00 to $395.00 and set a "buy" rating on the stock in a research note on Monday, October 5th. Morgan Stanley upped their price target on JPMorgan Chase & Co. from $370.00 to $377.00 and gave the stock an "equal weight" rating in a research report on Wednesday. Royal Bank Of Canada reiterated an "outperform" rating and issued a $370.00 price target on shares of JPMorgan Chase & Co. in a research note on Wednesday. TD Cowen assumed coverage on shares of JPMorgan Chase & Co. in a research note on Thursday, October 8th. They issued a "hold" rating and a $370.00 price target on the stock. Finally, Keefe, Bruyette & Woods reissued an "outperform" rating on shares of JPMorgan Chase & Co. in a research report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and thirteen have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $365.45.

JPMorgan Chase & Co. Trading Up 1.2%

The business's 50 day simple moving average is $348.58 and its 200 day simple moving average is $330.17. The stock has a market cap of $902.43 billion, a price-to-earnings ratio of 14.24, a PEG ratio of 1.38 and a beta of 1.02. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.31.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its quarterly earnings data on Tuesday, October 13th. The financial services provider reported $5.75 earnings per share for the quarter, missing the consensus estimate of $5.94 by ($0.19). JPMorgan Chase & Co. had a return on equity of 18.48% and a net margin of 21.85%. The firm had revenue of $50.17 billion for the quarter, compared to analyst estimates of $51.23 billion. During the same quarter in the prior year, the firm earned $5.07 earnings per share. The firm's revenue for the quarter was up 8.1% on a year-over-year basis. On average, research analysts expect that JPMorgan Chase & Co. will post 24.18 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, October 31st. Investors of record on Tuesday, October 6th will be paid a $1.65 dividend. This is a boost from JPMorgan Chase & Co.'s previous quarterly dividend of $1.50. The ex-dividend date is Tuesday, October 6th. This represents a $6.60 dividend on an annualized basis and a yield of 1.9%. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is currently 27.68%.

Insider Transactions at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, insider Robin Leopold sold 2,500 shares of JPMorgan Chase & Co. stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $352.81, for a total transaction of $882,025.00. Following the completion of the transaction, the insider directly owned 71,047 shares of the company's stock, valued at $25,066,092.07. The trade was a 3.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.41% of the stock is owned by corporate insiders.

Institutional Trading of JPMorgan Chase & Co.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Rise Advisors LLC grew its position in JPMorgan Chase & Co. by 5.9% during the third quarter. Rise Advisors LLC now owns 3,971 shares of the financial services provider's stock worth $1,314,000 after buying an additional 221 shares in the last quarter. James T. Borello RIA increased its position in shares of JPMorgan Chase & Co. by 5.3% in the third quarter. James T. Borello RIA now owns 1,394 shares of the financial services provider's stock worth $461,000 after purchasing an additional 70 shares during the period. Cyr Financial Inc. increased its position in shares of JPMorgan Chase & Co. by 6.5% in the third quarter. Cyr Financial Inc. now owns 4,917 shares of the financial services provider's stock worth $1,627,000 after purchasing an additional 299 shares during the period. Eagle Bay Advisors LLC increased its position in shares of JPMorgan Chase & Co. by 8.7% in the third quarter. Eagle Bay Advisors LLC now owns 3,014 shares of the financial services provider's stock worth $997,000 after purchasing an additional 242 shares during the period. Finally, Selective Wealth Management Inc. raised its stake in JPMorgan Chase & Co. by 23.1% in the third quarter. Selective Wealth Management Inc. now owns 2,508 shares of the financial services provider's stock valued at $842,000 after purchasing an additional 470 shares in the last quarter. Institutional investors own 71.55% of the company's stock.

About JPMorgan Chase & Co.

JPMorgan Chase & Co is a global financial services company headquartered in New York City. Through its businesses, the company provides banking, investment banking, asset management, private banking, commercial banking, consumer lending and payment services to individuals, businesses, institutions and governments.

The company operates through major business areas that include Consumer & Community Banking, Commercial & Investment Banking, and Asset & Wealth Management. Its products and services include deposit accounts, credit cards, mortgages, auto loans, business financing, investment and advisory services, securities trading and custody, payment processing, and wealth-management solutions.

JPMorgan Chase serves customers in the United States and maintains operations and client relationships across international markets.

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