Oppenheimer Holdings Comments on J P Morgan Chase & Co’s Q3 2017 Earnings (JPM)
J P Morgan Chase & Co (NYSE:JPM) – Oppenheimer Holdings cut their Q3 2017 earnings per share (EPS) estimates for shares of J P Morgan Chase & Co in a report issued on Monday. Oppenheimer Holdings analyst C. Kotowski now expects that the financial services provider will post earnings of $1.65 per share for the quarter, down from their previous estimate of $1.78. Oppenheimer Holdings has a “Market Perform” rating on the stock. Oppenheimer Holdings also issued estimates for J P Morgan Chase & Co’s FY2017 earnings at $6.78 EPS and FY2018 earnings at $7.50 EPS.
JPM has been the topic of several other reports. Berenberg Bank set a $65.00 price objective on J P Morgan Chase & Co and gave the stock a “sell” rating in a report on Thursday, August 3rd. Wells Fargo & Company started coverage on J P Morgan Chase & Co in a report on Wednesday, August 9th. They set an “outperform” rating and a $110.00 price objective on the stock. Deutsche Bank AG restated a “buy” rating on shares of J P Morgan Chase & Co in a report on Monday, July 3rd. Bank of America Corporation restated a “buy” rating and set a $99.00 price objective on shares of J P Morgan Chase & Co in a report on Monday, July 17th. Finally, Goldman Sachs Group, Inc. (The) restated a “neutral” rating and set a $93.00 price objective on shares of J P Morgan Chase & Co in a report on Thursday, July 6th. Three equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and seventeen have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $87.10.
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Shares of J P Morgan Chase & Co (NYSE:JPM) opened at 95.18 on Wednesday. The company’s 50 day moving average price is $91.64 and its 200 day moving average price is $89.00. The company has a market capitalization of $334.89 billion, a price-to-earnings ratio of 14.04 and a beta of 1.19. J P Morgan Chase & Co has a 52-week low of $65.11 and a 52-week high of $95.72.
J P Morgan Chase & Co (NYSE:JPM) last released its quarterly earnings results on Friday, July 14th. The financial services provider reported $1.82 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.59 by $0.23. J P Morgan Chase & Co had a return on equity of 11.53% and a net margin of 24.13%. The company had revenue of $25.50 billion for the quarter, compared to analyst estimates of $24.38 billion. During the same period in the previous year, the company posted $1.55 earnings per share. The firm’s revenue was up 4.6% on a year-over-year basis.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in JPM. Private Vista LLC purchased a new position in shares of J P Morgan Chase & Co during the 2nd quarter valued at about $102,000. Pacific Center for Financial Services raised its stake in shares of J P Morgan Chase & Co by 14.5% during the 1st quarter. Pacific Center for Financial Services now owns 1,401 shares of the financial services provider’s stock valued at $123,000 after buying an additional 177 shares during the last quarter. Atlantic Trust LLC purchased a new position in shares of J P Morgan Chase & Co during the 2nd quarter valued at about $136,000. Horrell Capital Management Inc. raised its stake in shares of J P Morgan Chase & Co by 5.0% during the 1st quarter. Horrell Capital Management Inc. now owns 1,647 shares of the financial services provider’s stock valued at $145,000 after buying an additional 78 shares during the last quarter. Finally, Ullmann Financial Group Inc. purchased a new position in shares of J P Morgan Chase & Co during the 1st quarter valued at about $148,000. Institutional investors and hedge funds own 77.90% of the company’s stock.
In other J P Morgan Chase & Co news, CFO Marianne Lake sold 17,596 shares of J P Morgan Chase & Co stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $91.58, for a total transaction of $1,611,441.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Nicole Giles sold 1,000 shares of J P Morgan Chase & Co stock in a transaction dated Tuesday, July 18th. The shares were sold at an average price of $91.29, for a total value of $91,290.00. Following the transaction, the insider now owns 3,783 shares of the company’s stock, valued at approximately $345,350.07. The disclosure for this sale can be found here. Insiders have sold a total of 28,564 shares of company stock valued at $2,605,334 in the last quarter. Company insiders own 0.88% of the company’s stock.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Friday, October 6th will be paid a dividend of $0.56 per share. The ex-dividend date of this dividend is Thursday, October 5th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 2.35%. This is a positive change from J P Morgan Chase & Co’s previous quarterly dividend of $0.50. J P Morgan Chase & Co’s dividend payout ratio (DPR) is presently 29.59%.
About J P Morgan Chase & Co
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 offers services to consumers and businesses through bank branches, automatic teller machines (ATMs), online, mobile and telephone banking.
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