JPMorgan Chase & Co. (NYSE:JPM) Stock Price Up 1.9% – Here’s Why

JPMorgan Chase & Co. (NYSE:JPM) shares rose 1.9% during mid-day trading on Friday . The company traded as high as $302.60 and last traded at $300.27. Approximately 7,115,598 shares traded hands during trading, a decline of 25% from the average daily volume of 9,524,863 shares. The stock had previously closed at $294.54.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on JPM shares. Dbs Bank upgraded JPMorgan Chase & Co. to a “hold” rating in a research note on Tuesday, October 21st. Daiwa Capital Markets upped their target price on JPMorgan Chase & Co. from $330.00 to $332.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 8th. UBS Group upped their target price on JPMorgan Chase & Co. from $339.00 to $350.00 and gave the stock a “buy” rating in a research note on Tuesday, October 7th. Barclays upped their target price on JPMorgan Chase & Co. from $330.00 to $342.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 15th. Finally, Bank of America upped their target price on JPMorgan Chase & Co. from $330.00 to $340.00 and gave the stock a “buy” rating in a research note on Wednesday, July 16th. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, nine have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, JPMorgan Chase & Co. currently has a consensus rating of “Moderate Buy” and a consensus target price of $322.27.

JPMorgan Chase & Co. Trading Up 1.9%

The company has a market capitalization of $825.66 billion, a PE ratio of 14.87, a PEG ratio of 1.81 and a beta of 1.13. The company has a current ratio of 0.86, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. The stock has a fifty day moving average of $303.43 and a two-hundred day moving average of $281.56.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share for the quarter, beating analysts’ consensus estimates of $4.83 by $0.24. The company had revenue of $46.43 billion for the quarter, compared to analysts’ expectations of $44.42 billion. JPMorgan Chase & Co. had a return on equity of 17.18% and a net margin of 20.90%.JPMorgan Chase & Co.’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same period last year, the firm posted $4.37 EPS. As a group, sell-side analysts anticipate that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, October 6th will be issued a dividend of $1.50 per share. The ex-dividend date of this dividend is Monday, October 6th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.0%. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. JPMorgan Chase & Co.’s payout ratio is 29.72%.

Insider Buying and Selling at JPMorgan Chase & Co.

In related news, Director Linda Bammann sold 9,500 shares of the firm’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $297.94, for a total transaction of $2,830,430.00. Following the transaction, the director directly owned 82,207 shares of the company’s stock, valued at approximately $24,492,753.58. This trade represents a 10.36% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.47% of the company’s stock.

Hedge Funds Weigh In On JPMorgan Chase & Co.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Peterson Wealth Advisors LLC grew its position in JPMorgan Chase & Co. by 1.6% during the 3rd quarter. Peterson Wealth Advisors LLC now owns 2,063 shares of the financial services provider’s stock worth $635,000 after acquiring an additional 33 shares during the last quarter. TradeWell Securities LLC. grew its position in JPMorgan Chase & Co. by 0.3% during the 3rd quarter. TradeWell Securities LLC. now owns 12,333 shares of the financial services provider’s stock worth $3,832,000 after acquiring an additional 34 shares during the last quarter. Sharkey Howes & Javer grew its position in JPMorgan Chase & Co. by 1.9% during the 3rd quarter. Sharkey Howes & Javer now owns 1,785 shares of the financial services provider’s stock worth $563,000 after acquiring an additional 34 shares during the last quarter. Granite Group Advisors LLC grew its position in JPMorgan Chase & Co. by 0.3% during the 3rd quarter. Granite Group Advisors LLC now owns 10,313 shares of the financial services provider’s stock worth $3,253,000 after acquiring an additional 34 shares during the last quarter. Finally, JFS Wealth Advisors LLC grew its position in JPMorgan Chase & Co. by 0.4% during the 2nd quarter. JFS Wealth Advisors LLC now owns 7,897 shares of the financial services provider’s stock worth $2,290,000 after acquiring an additional 35 shares during the last quarter. 71.55% of the stock is currently owned by institutional investors.

About JPMorgan Chase & Co.

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.