Q3 2016 EPS Estimates for JPMorgan Chase & Co. (JPM) Boosted by Oppenheimer Holdings
JPMorgan Chase & Co. (NYSE:JPM) – Research analysts at Oppenheimer Holdings increased their Q3 2016 earnings estimates for shares of JPMorgan Chase & Co. in a research note issued to investors on Monday. Oppenheimer Holdings analyst C. Kotowski now expects that the brokerage will earn $1.33 per share for the quarter, up from their previous forecast of $1.31. Oppenheimer Holdings has a “Market Perform” rating on the stock. Oppenheimer Holdings also issued estimates for JPMorgan Chase & Co.’s Q4 2016 earnings at $1.32 EPS, FY2016 earnings at $5.55 EPS and FY2017 earnings at $6.07 EPS.
JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Thursday, July 14th. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.12. The company earned $24.40 billion during the quarter, compared to analyst estimates of $23.84 billion. JPMorgan Chase & Co. had a return on equity of 10.20% and a net margin of 24.47%. JPMorgan Chase & Co.’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.54 earnings per share.
Several other analysts have also recently issued reports on the company. Vetr raised JPMorgan Chase & Co. from a “strong sell” rating to a “sell” rating and set a $57.51 target price on the stock in a research note on Tuesday, July 5th. Berenberg Bank initiated coverage on JPMorgan Chase & Co. in a research note on Wednesday, July 13th. They issued a “sell” rating on the stock. KeyCorp reissued a “buy” rating on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 12th. Citigroup Inc. cut JPMorgan Chase & Co. from a “buy” rating to a “neutral” rating and set a $65.00 price objective on the stock. in a research report on Monday, August 8th. They noted that the move was a valuation call. Finally, Deutsche Bank AG reaffirmed a “buy” rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, June 15th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty-two have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $71.68.
JPMorgan Chase & Co. (NYSE:JPM) traded up 1.82% during trading on Wednesday, hitting $67.81. The stock had a trading volume of 7,360,553 shares. The company has a market capitalization of $244.90 billion, a P/E ratio of 11.49 and a beta of 1.54. JPMorgan Chase & Co. has a 1-year low of $52.50 and a 1-year high of $69.03. The stock’s 50-day moving average price is $66.55 and its 200-day moving average price is $63.63.
Hedge funds have recently bought and sold shares of the company. Acrospire Investment Management LLC purchased a new stake in JPMorgan Chase & Co. during the first quarter worth $107,000. Jackson Grant Investment Advisers Inc. raised its stake in JPMorgan Chase & Co. by 0.7% in the second quarter. Jackson Grant Investment Advisers Inc. now owns 2,014 shares of the financial services provider’s stock worth $125,000 after buying an additional 14 shares during the period. Vigilant Capital Management LLC raised its stake in JPMorgan Chase & Co. by 22.1% in the second quarter. Vigilant Capital Management LLC now owns 2,079 shares of the financial services provider’s stock worth $129,000 after buying an additional 376 shares during the period. Perkins Coie Trust Co raised its stake in JPMorgan Chase & Co. by 10.2% in the second quarter. Perkins Coie Trust Co now owns 2,163 shares of the financial services provider’s stock worth $134,000 after buying an additional 200 shares during the period. Finally, Hanson McClain Inc. raised its stake in JPMorgan Chase & Co. by 1.3% in the second quarter. Hanson McClain Inc. now owns 2,384 shares of the financial services provider’s stock worth $148,000 after buying an additional 31 shares during the period. 73.34% of the stock is currently owned by institutional investors.
In related news, EVP Gordon Smith sold 23,735 shares of the stock in a transaction dated Friday, July 15th. The shares were sold at an average price of $64.05, for a total value of $1,520,226.75. Following the sale, the executive vice president now directly owns 152,462 shares of the company’s stock, valued at approximately $9,765,191.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ashley Bacon sold 15,521 shares of the stock in a transaction dated Friday, July 15th. The stock was sold at an average price of $63.97, for a total transaction of $992,878.37. Following the completion of the sale, the insider now directly owns 14,938 shares in the company, valued at $955,583.86. The disclosure for this sale can be found here. Insiders own 0.85% of the company’s stock.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 31st. Stockholders of record on Thursday, October 6th will be given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 2.88%. The ex-dividend date of this dividend is Tuesday, October 4th. JPMorgan Chase & Co.’s dividend payout ratio is 32.54%.
JPMorgan Chase & Co. Company Profile
JPMorgan Chase & Co is a financial holding company. The Company is engaged in investment banking, financial services. It operates in four segments, as well as a Corporate segment. Its segments are Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking and Asset Management. The Consumer & Community Banking segment serves consumers and businesses through personal service at bank branches and through automatic teller machines, online, mobile and telephone banking.
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