JPMorgan Chase & Co. (NYSE:JPM) Trading Up 1.4% – Still a Buy?

Shares of JPMorgan Chase & Co. (NYSE:JPM) traded up 1.4% during mid-day trading on Tuesday . The company traded as high as $363.00 and last traded at $357.7450. Approximately 8,392,960 shares traded hands during trading, a decline of 16% from the average session volume of 9,974,985 shares. The stock had previously closed at $352.64.

Key Headlines Impacting JPMorgan Chase & Co.

Here are the key news stories impacting JPMorgan Chase & Co. this week:

• Positive Sentiment: Large U.S. housing initiative: JPMorgan plans to deploy more than $750 billion through 2035 under its American Dream Initiative—nearly 40% above its housing capital deployment over the prior decade. The plan includes financing 1 million affordable housing units, helping 500,000 customers purchase homes and expanding mortgage lending by more than 40%. The initiative could support long-term loan growth, fee income and community-development business, although profitability remains an important execution test. JPMorganChase Doubles Down on Housing
• Positive Sentiment: Financial-sector support: The NYSE Financial Index was higher in Tuesday afternoon trading, providing a favorable backdrop for JPMorgan and other large banks. Recent earnings momentum also remains supportive: JPMorgan’s latest quarterly results exceeded consensus estimates for both earnings and revenue. Sector Update: Financial Stocks Advance Tuesday Afternoon
• Positive Sentiment: Potential infrastructure transaction: JPMorgan is reportedly nearing a deal to acquire Idex, a French district-cooling network provider owned by Antin Infrastructure Partners. If completed, the transaction would expand the bank’s infrastructure-related investment platform and could generate future financing and advisory opportunities. JPMorgan Said to Near Deal for Antin’s French Cooling Network Provider
• Neutral Sentiment: Interest-rate outlook: JPMorgan economists reportedly moved forward their forecast for a possible Federal Reserve rate increase before year-end, citing concerns about inflation credibility. Higher rates can support bank net interest income, but a more restrictive policy could also weaken loan demand and increase economic risks. JPMorgan says Warsh failure to buttress Fed credibility may force a rate hike before year-end
• Negative Sentiment: Dimon’s valuation caution: CEO Jamie Dimon said he would not buy the S&P 500 or long-duration Treasuries at current valuations, warning that both appear expensive. The comments may temper investor risk appetite, although they do not directly change JPMorgan’s earnings outlook. Jamie Dimon Just Said He Wouldn’t Buy the S&P 500 or Long-Dated Treasuries

Analyst Ratings Changes

A number of equities analysts recently commented on JPM shares. Autonomous Res decreased their price objective on shares of JPMorgan Chase & Co. from $360.00 to $324.00 and set a “neutral” rating for the company in a research note on Monday, April 6th. Deutsche Bank Aktiengesellschaft upgraded JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and set a $375.00 target price for the company in a report on Wednesday, July 22nd. Citigroup raised their target price on JPMorgan Chase & Co. from $325.00 to $360.00 and gave the stock a “neutral” rating in a research report on Monday, July 20th. Bank of America upped their price target on JPMorgan Chase & Co. from $408.00 to $420.00 and gave the company a “buy” rating in a research report on Thursday, July 16th. Finally, Truist Financial increased their price objective on JPMorgan Chase & Co. from $344.00 to $352.00 and gave the stock a “hold” rating in a research note on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eleven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $359.33.

JPMorgan Chase & Co. Trading Up 1.4%

The company has a debt-to-equity ratio of 1.30, a current ratio of 0.85 and a quick ratio of 0.86. The company has a fifty day moving average of $329.73 and a 200-day moving average of $312.08. The firm has a market capitalization of $958.58 billion, a PE ratio of 15.33, a price-to-earnings-growth ratio of 1.45 and a beta of 0.99.

JPMorgan Chase & Co. (NYSE:JPM) last issued its earnings results on Tuesday, July 14th. The financial services provider reported $6.14 EPS for the quarter, beating analysts’ consensus estimates of $5.59 by $0.55. JPMorgan Chase & Co. had a return on equity of 18.23% and a net margin of 21.86%.The firm had revenue of $58.02 billion for the quarter, compared to the consensus estimate of $50.72 billion. During the same quarter in the previous year, the company posted $4.96 earnings per share. The business’s quarterly revenue was up 27.7% compared to the same quarter last year. On average, sell-side analysts anticipate that JPMorgan Chase & Co. will post 24.27 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Monday, July 6th were paid a $1.50 dividend. The ex-dividend date of this dividend was Monday, July 6th. This represents a $6.00 annualized dividend and a dividend yield of 1.7%. JPMorgan Chase & Co.’s payout ratio is presently 25.71%.

Insider Buying and Selling

In related news, General Counsel Stacey Friedman sold 5,468 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $300.27, for a total transaction of $1,641,876.36. Following the transaction, the general counsel owned 46,428 shares of the company’s stock, valued at approximately $13,940,935.56. This trade represents a 10.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.41% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Timmons Wealth Management LLC acquired a new position in JPMorgan Chase & Co. during the fourth quarter worth $27,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of JPMorgan Chase & Co. in the fourth quarter worth about $32,000. MBM Wealth Consultants LLC bought a new stake in shares of JPMorgan Chase & Co. during the 1st quarter worth about $29,000. Aventus Investment Advisors Inc. bought a new stake in shares of JPMorgan Chase & Co. during the 2nd quarter worth about $33,000. Finally, Osbon Capital Management LLC bought a new stake in shares of JPMorgan Chase & Co. during the 4th quarter worth about $35,000. Institutional investors own 71.55% of the company’s stock.

About JPMorgan Chase & Co.

JPMorgan Chase & Co (NYSE: JPM) is a diversified global financial services firm headquartered in New York City. The company provides a wide range of banking and financial products and services to consumers, small businesses, corporations, governments and institutional investors worldwide. Its operations span retail banking, commercial lending, investment banking, asset management, payments and card services, and treasury and securities services.

The firm’s principal business activities are organized across several core lines: Consumer & Community Banking, which offers deposit accounts, mortgages, auto loans, credit cards and branch and digital banking under the Chase brand; Corporate & Investment Banking, which provides capital markets, advisory, underwriting, trading and risk management services; Commercial Banking, delivering lending, treasury and capital solutions to middle-market and corporate clients; and Asset & Wealth Management, which offers investment management, private banking and retirement services to institutions and high-net-worth individuals.