JPMorgan Chase & Co. (NYSE:JPM) Shares Up 0.7% - Here's Why

On Thursday, shares of JPMorgan Chase & Co. (NYSE:JPM) saw a rise of 0.7%. The stock reached a peak of $266.86 during the day and was last noted at $264.74. Approximately 2,020,716 shares changed hands, which is significantly lower than the average trading volume of 11,034,813 shares, marking an 82% decline. The stock had previously closed at $262.84.

Analyst Ratings Changes

Various financial research firms have provided their insights on JPMorgan Chase & Co. Recently, Truist Financial raised their price target from $260.00 to $268.00 and maintained a "hold" rating. Morgan Stanley, on the other hand, downgraded JPM from an "overweight" to an "equal weight" rating while increasing their price target from $220.00 to $224.00. Similarly, Keefe, Bruyette & Woods increased their target from $257.00 to $264.00 and also recommended a "market perform" rating. Wells Fargo & Company boosted their target from $240.00 to $270.00 while issuing an "overweight" rating. Finally, Wolfe Research upgraded JPM to "outperform" with a target price of $269.00.

Currently, two analysts have assigned a sell rating to the stock, eight maintain a hold rating, and eleven have issued buy ratings. Overall, based on MarketBeat data, JPMorgan Chase & Co. has an average rating of "Hold" with a consensus target price of $251.78.

JPMorgan Chase & Co. Price Performance

The company boasts a market capitalization of $746.77 billion, a price-to-earnings (P/E) ratio of 13.43, and a P/E/G ratio of 2.83. Additionally, the stock has a beta value of 1.11. Financial metrics include a quick ratio of 0.89, a current ratio of 0.88, and a debt-to-equity ratio of 1.24. The 50-day simple moving average stands at $244.81, while the 200-day simple moving average is at $225.56.

In its latest quarterly earnings report, released on January 15, the financial giant reported earnings per share (EPS) of $4.81, exceeding analyst expectations of $4.03 by $0.78. The company’s return on equity was recorded at 16.99%, with a net margin of 20.96%. The reported revenue also surpassed estimates, coming in at $42.77 billion against an expectation of $41.90 billion, showcasing a year-over-year revenue growth of 10.9%.

JPMorgan Chase & Co. Announces Dividend

In addition to its strong earnings, JPMorgan announced a quarterly dividend of $1.25 per share, which is set to be paid on January 31. Shareholders who hold records on January 6 will receive this dividend, indicating a $5.00 annualized dividend, offering a yield of 1.89%. The dividend's ex-date is January 6, and the current dividend payout ratio stands at 25.33%.

Insider Buying and Selling at JPMorgan Chase & Co.

In related news, General Counsel Stacey Friedman recently sold 3,303 shares at an average price of $253.94, totaling approximately $838,763.82. Following this transaction, Friedman’s direct ownership in the company is now at 47,620 shares, valued at around $12,092,622.80, indicating a 6.49% decrease in her stock ownership. This transaction has been publicly disclosed in a filing with the SEC. It is noteworthy that insiders currently own 0.79% of the company’s stock.

Institutional Investors Weigh In On JPMorgan Chase & Co.

Several institutional investors have shown interest in JPMorgan’s stock recently. Mizuho Securities Co. Ltd. entered the market with a new position valued at $25,000 in the third quarter. Catalyst Capital Advisors LLC and West Financial Advisors LLC followed suit with similar new positions valued at $27,000 and $37,000, respectively. Meanwhile, New England Capital Financial Advisors increased their holdings by 38.5%, now holding 180 shares valued at $38,000. Carolina Wealth Advisors LLC also raised their stakes by 36.0%, owning 189 shares valued at $40,000 after a recent purchase. Institutional investors collectively hold 71.55% of JPMorgan’s stock.

About JPMorgan Chase & Co.

JPMorgan Chase & Co. operates on a global scale, providing financial services through four segments: Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking, and Asset & Wealth Management. The Consumer & Community Banking segment offers a wide array of products including deposit and investment options, cash management, mortgage services, and credit solutions tailored for consumers and small businesses through various platforms.

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