JPMorgan Chase & Co. (NYSE:JPM) Price Target Raised to $257.00

JPMorgan Chase & Co. (NYSE:JPM) had its price objective increased by Barclays from $217.00 to $257.00 in a report issued on Monday, Benzinga reports. The firm currently has an overweight rating on the financial services provider’s stock.

A number of other analysts also recently issued reports on JPM. Royal Bank of Canada boosted their price objective on shares of JPMorgan Chase & Co. from $211.00 to $230.00 and gave the company an “outperform” rating in a report on Monday. StockNews.com raised shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a report on Saturday, July 13th. Citigroup boosted 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. Wolfe Research downgraded shares of JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a report on Monday, July 8th. Finally, Jefferies Financial Group upped their price target on shares of JPMorgan Chase & Co. from $230.00 to $239.00 and gave the stock a “buy” rating in a report on Wednesday, July 3rd. Nine research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, JPMorgan Chase & Co. has a consensus rating of “Moderate Buy” and a consensus price target of $217.94.

JPMorgan Chase & Co. Stock Up 0.6 %

Shares of JPM opened at $223.64 on Monday. JPMorgan Chase & Co. has a 52 week low of $135.19 and a 52 week high of $225.48. The firm has a market cap of $642.22 billion, a P/E ratio of 12.47, a price-to-earnings-growth ratio of 3.28 and a beta of 1.11. The firm’s 50-day simple moving average is $213.22 and its 200 day simple moving average is $204.17. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.91 and a current ratio of 0.91.

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

JPMorgan Chase & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 4th will be given a $1.25 dividend. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. This represents a $5.00 annualized dividend and a yield of 2.24%. The ex-dividend date is Friday, October 4th. JPMorgan Chase & Co.’s dividend payout ratio is 27.89%.

Hedge Funds Weigh In On JPMorgan Chase & Co.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Retirement Group LLC increased its position in shares of JPMorgan Chase & Co. by 227.1% during the first quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock worth $31,000 after buying an additional 109 shares during the period. Fairway Wealth LLC acquired a new stake in shares of JPMorgan Chase & Co. during the second quarter worth $32,000. Richardson Capital Management LLC acquired a new stake in shares of JPMorgan Chase & Co. during the first quarter worth $34,000. Anfield Capital Management LLC acquired a new stake in shares of JPMorgan Chase & Co. during the second quarter worth $34,000. Finally, West Financial Advisors LLC acquired a new stake in shares of JPMorgan Chase & Co. during the third quarter worth $37,000. 71.55% of the stock is currently owned by institutional investors and hedge funds.

About JPMorgan Chase & Co.

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.