JPMorgan Chase & Co. (NYSE:JPM) Sets New 12-Month High – Should You Buy?

JPMorgan Chase & Co. (NYSE:JPM)’s share price reached a new 52-week high during trading on Thursday . The company traded as high as $225.60 and last traded at $224.49, with a volume of 693783 shares traded. The stock had previously closed at $223.64.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on JPM shares. Daiwa Capital Markets cut their price target on JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating for the company in a report on Thursday, October 10th. Royal Bank of Canada increased their price objective on JPMorgan Chase & Co. from $211.00 to $230.00 and gave the stock an “outperform” rating in a research report on Monday. Citigroup increased their price objective on JPMorgan Chase & Co. from $205.00 to $215.00 and gave the stock a “neutral” rating in a research report on Monday, July 15th. Barclays increased their price objective on JPMorgan Chase & Co. from $217.00 to $257.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, StockNews.com upgraded JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research report on Saturday, July 13th. Nine equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $217.94.

JPMorgan Chase & Co. Stock Performance

The stock has a market cap of $648.37 billion, a PE ratio of 12.57, a P/E/G ratio of 3.28 and a beta of 1.11. The company has a fifty day moving average price of $213.22 and a 200 day moving average price of $204.17. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 1.24.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings data on Friday, October 11th. The financial services provider reported $4.37 EPS for the quarter, topping the consensus estimate of $4.02 by $0.35. The firm had revenue of $43.32 billion for the quarter, compared to the consensus estimate of $41.43 billion. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. The company’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.33 earnings per share. Analysts expect that JPMorgan Chase & Co. will post 16.75 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 4th will be issued a $1.25 dividend. The ex-dividend date of this dividend is Friday, October 4th. This represents a $5.00 annualized dividend and a dividend yield of 2.21%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s payout ratio is currently 27.89%.

Institutional Trading of JPMorgan Chase & Co.

Several large investors have recently modified their holdings of JPM. Trust Co. of Toledo NA OH grew its stake in shares of JPMorgan Chase & Co. by 2.2% in the first quarter. Trust Co. of Toledo NA OH now owns 95,241 shares of the financial services provider’s stock worth $19,077,000 after purchasing an additional 2,075 shares during the last quarter. Orrstown Financial Services Inc. grew its stake in shares of JPMorgan Chase & Co. by 3.9% in the first quarter. Orrstown Financial Services Inc. now owns 6,494 shares of the financial services provider’s stock worth $1,301,000 after purchasing an additional 242 shares during the last quarter. Moseley Investment Management Inc. grew its stake in shares of JPMorgan Chase & Co. by 0.6% in the first quarter. Moseley Investment Management Inc. now owns 18,009 shares of the financial services provider’s stock worth $3,607,000 after purchasing an additional 100 shares during the last quarter. Cullen Investment Group LTD. boosted its position in JPMorgan Chase & Co. by 1.2% during the 1st quarter. Cullen Investment Group LTD. now owns 102,334 shares of the financial services provider’s stock valued at $20,350,000 after acquiring an additional 1,233 shares in the last quarter. Finally, CWM LLC boosted its position in JPMorgan Chase & Co. by 10.7% during the 1st quarter. CWM LLC now owns 327,311 shares of the financial services provider’s stock valued at $65,560,000 after acquiring an additional 31,517 shares in the last quarter. 71.55% of the stock is owned by institutional investors.

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.