JPMorgan Chase & Co. (NYSE:JPM) Stock Price Up 1.2% – Time to Buy?

JPMorgan Chase & Co. (NYSE:JPM) shares shot up 1.2% during mid-day trading on Wednesday . The stock traded as high as $225.60 and last traded at $225.47. 1,747,005 shares changed hands during trading, a decline of 81% from the average session volume of 8,997,649 shares. The stock had previously closed at $222.90.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Keefe, Bruyette & Woods raised their target price on shares of JPMorgan Chase & Co. from $209.00 to $211.00 and gave the company a “market perform” rating in a report on Tuesday, July 9th. Citigroup raised their price objective on shares of JPMorgan Chase & Co. from $205.00 to $215.00 and gave the company a “neutral” rating in a report on Monday, July 15th. Piper Sandler upped their price target on shares of JPMorgan Chase & Co. from $220.00 to $230.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. BMO Capital Markets increased their price target on JPMorgan Chase & Co. from $195.00 to $205.00 and gave the stock a “market perform” rating in a report on Thursday, July 11th. Finally, Wolfe Research downgraded shares of JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a research report on Monday, July 8th. Nine research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $217.94.

JPMorgan Chase & Co. Trading Up 0.9 %

The firm has a 50-day moving average of $215.76 and a 200-day moving average of $206.02. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.91 and a current ratio of 0.91. The firm has a market capitalization of $639.85 billion, a P/E ratio of 12.54, a price-to-earnings-growth ratio of 3.28 and a beta of 1.11.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.02 by $0.35. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. The company had revenue of $43.32 billion for the quarter, compared to the consensus estimate of $41.43 billion. During the same quarter in the previous year, the business earned $4.33 EPS. JPMorgan Chase & Co.’s revenue was up 6.5% compared to the same quarter last year. On average, equities research analysts anticipate that JPMorgan Chase & Co. will post 16.75 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 4th will be paid a dividend of $1.25 per share. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date is Friday, October 4th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.22%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 27.82%.

Hedge Funds Weigh In On JPMorgan Chase & Co.

A number of hedge funds have recently added to or reduced their stakes in JPM. Independence Bank of Kentucky grew its position in JPMorgan Chase & Co. by 25.2% during the first quarter. Independence Bank of Kentucky now owns 45,017 shares of the financial services provider’s stock valued at $9,017,000 after buying an additional 9,054 shares during the period. Avity Investment Management Inc. grew its holdings in JPMorgan Chase & Co. by 1.0% during the first quarter. Avity Investment Management Inc. now owns 115,968 shares of the financial services provider’s stock valued at $23,228,000 after purchasing an additional 1,093 shares during the period. Occidental Asset Management LLC raised its stake in shares of JPMorgan Chase & Co. by 28.8% in the first quarter. Occidental Asset Management LLC now owns 23,778 shares of the financial services provider’s stock worth $4,763,000 after buying an additional 5,318 shares during the period. Viewpoint Capital Management LLC increased its holdings in JPMorgan Chase & Co. by 4.8% in the 1st quarter. Viewpoint Capital Management LLC now owns 6,804 shares of the financial services provider’s stock worth $1,363,000 after acquiring an additional 312 shares in the last quarter. Finally, Trifecta Capital Advisors LLC lifted its stake in shares of JPMorgan Chase & Co. by 2.1% during the 1st quarter. Trifecta Capital Advisors LLC now owns 22,636 shares of the financial services provider’s stock valued at $4,534,000 after buying an additional 472 shares in the last quarter. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit, investment and lending products, cash management, and payments and services; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.