JPMorgan Chase & Co. (NYSE:JPM) Sets New 1-Year High After Better-Than-Expected Earnings

Shares of JPMorgan Chase & Co. (NYSE:JPM) hit a new 52-week high during trading on Thursday following a stronger than expected earnings report. The company traded as high as $256.83 and last traded at $255.03, with a volume of 2020981 shares trading hands. The stock had previously closed at $252.35.

The financial services provider reported $4.81 EPS for the quarter, topping the consensus estimate of $4.03 by $0.78. JPMorgan Chase & Co. had a return on equity of 16.71% and a net margin of 19.64%. The business had revenue of $42.77 billion for the quarter, compared to the consensus estimate of $41.90 billion. During the same period in the previous year, the business earned $3.04 EPS. JPMorgan Chase & Co.’s revenue was up 10.9% compared to the same quarter last year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, January 6th will be paid a $1.25 dividend. The ex-dividend date is Monday, January 6th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.95%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 27.82%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Keefe, Bruyette & Woods increased their price objective on shares of JPMorgan Chase & Co. from $216.00 to $254.00 and gave the stock a “market perform” rating in a report on Tuesday, December 3rd. Baird R W cut shares of JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 7th. Robert W. Baird cut shares of JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 price objective for the company. in a research report on Thursday, November 7th. Oppenheimer lowered JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 20th. Finally, Evercore ISI boosted their target price on JPMorgan Chase & Co. from $217.00 to $230.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $246.28.

Institutional Investors Weigh In On JPMorgan Chase & Co.

A number of large investors have recently added to or reduced their stakes in the business. Mizuho Securities Co. Ltd. acquired a new position in shares of JPMorgan Chase & Co. in the third quarter valued at $25,000. Catalyst Capital Advisors LLC bought a new stake in shares of JPMorgan Chase & Co. during the 3rd quarter worth about $27,000. Fairway Wealth LLC bought a new stake in shares of JPMorgan Chase & Co. during the 2nd quarter worth about $32,000. West Financial Advisors LLC acquired a new position in JPMorgan Chase & Co. in the 3rd quarter valued at about $37,000. Finally, New England Capital Financial Advisors LLC raised its holdings in JPMorgan Chase & Co. by 38.5% in the 3rd quarter. New England Capital Financial Advisors LLC now owns 180 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 50 shares during the period. Institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Price Performance

The company’s 50-day simple moving average is $242.60 and its 200-day simple moving average is $223.51. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.89 and a quick ratio of 0.89. The stock has a market capitalization of $720.25 billion, a price-to-earnings ratio of 14.24, a P/E/G ratio of 3.16 and a beta of 1.11.

JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit, investment and lending products, cash management, and payments and services; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.