JPMorgan Chase & Co. (NYSE:JPM) Trading 0.6% Higher Following Strong Earnings

JPMorgan Chase & Co. (NYSE:JPM)’s share price traded up 0.6% during mid-day trading on Thursday following a better than expected earnings announcement. The company traded as high as $257.04 and last traded at $253.78. 6,079,785 shares changed hands during mid-day trading, a decline of 41% from the average session volume of 10,279,314 shares. The stock had previously closed at $252.35.

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

JPMorgan Chase & Co. Dividend Announcement

The company also recently disclosed 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. This represents a $5.00 annualized dividend and a dividend yield of 1.97%. The ex-dividend date is Monday, January 6th. JPMorgan Chase & Co.’s dividend payout ratio is currently 27.82%.

Analysts Set New Price Targets

A number of research firms recently weighed in on JPM. Baird R W downgraded JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a report on Thursday, November 7th. Citigroup increased their target price on shares of JPMorgan Chase & Co. from $215.00 to $250.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. Piper Sandler increased their target price on shares of JPMorgan Chase & Co. from $240.00 to $275.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 3rd. Keefe, Bruyette & Woods lifted 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. Finally, Truist Financial increased their price target on JPMorgan Chase & Co. from $260.00 to $268.00 and gave the stock a “hold” rating in a research note on Thursday. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, JPMorgan Chase & Co. currently has a consensus rating of “Hold” and an average price target of $246.28.

Institutional Trading of JPMorgan Chase & Co.

A number of hedge funds and other institutional investors have recently modified their holdings of JPM. Geode Capital Management LLC grew its holdings in JPMorgan Chase & Co. by 0.9% in the third quarter. Geode Capital Management LLC now owns 58,344,186 shares of the financial services provider’s stock worth $12,258,346,000 after purchasing an additional 505,830 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of JPMorgan Chase & Co. by 4.8% in the second quarter. Dimensional Fund Advisors LP now owns 22,696,963 shares of the financial services provider’s stock worth $4,590,412,000 after acquiring an additional 1,040,594 shares during the last quarter. Fisher Asset Management LLC grew its stake in shares of JPMorgan Chase & Co. by 31.7% in the third quarter. Fisher Asset Management LLC now owns 16,784,272 shares of the financial services provider’s stock worth $3,539,132,000 after acquiring an additional 4,043,841 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of JPMorgan Chase & Co. by 2.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 15,084,919 shares of the financial services provider’s stock worth $3,180,806,000 after acquiring an additional 302,592 shares during the last quarter. Finally, Franklin Resources Inc. grew its stake in shares of JPMorgan Chase & Co. by 7.2% in the third quarter. Franklin Resources Inc. now owns 15,073,193 shares of the financial services provider’s stock worth $3,338,955,000 after acquiring an additional 1,016,289 shares during the last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Stock Up 0.4 %

The company’s 50-day moving average is $242.60 and its 200 day moving average is $223.51. The company has a market capitalization of $713.58 billion, a PE ratio of 14.10, a P/E/G ratio of 3.16 and a beta of 1.11. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.89 and a current ratio of 0.89.

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.