JPMorgan Chase & Co. (NYSE:JPM) Shares Up 1.4% Following Analyst Upgrade

JPMorgan Chase & Co. (NYSE:JPM)’s share price was up 1.4% during trading on Friday after Wells Fargo & Company raised their price target on the stock from $240.00 to $270.00. Wells Fargo & Company currently has an overweight rating on the stock. JPMorgan Chase & Co. traded as high as $245.62 and last traded at $245.33. Approximately 2,817,263 shares changed hands during mid-day trading, a decline of 69% from the average daily volume of 9,071,965 shares. The stock had previously closed at $241.87.

A number of other equities analysts have also commented on the stock. Barclays lifted their price target on shares of JPMorgan Chase & Co. from $217.00 to $257.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Royal Bank of Canada increased their price target on JPMorgan Chase & Co. from $211.00 to $230.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $235.00 target price on shares of JPMorgan Chase & Co. in a report on Tuesday, September 3rd. Morgan Stanley lowered shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and raised their price target for the stock from $220.00 to $224.00 in a report on Monday, September 30th. Finally, Evercore ISI upped their price objective on shares of JPMorgan Chase & Co. from $217.00 to $230.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $227.13.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Mizuho Securities Co. Ltd. acquired a new stake in shares of JPMorgan Chase & Co. in the 3rd quarter worth about $25,000. Catalyst Capital Advisors LLC purchased a new stake in shares of JPMorgan Chase & Co. in the third quarter worth approximately $27,000. Fairway Wealth LLC purchased a new stake in shares of JPMorgan Chase & Co. in the second quarter worth approximately $32,000. Anfield Capital Management LLC bought a new position in shares of JPMorgan Chase & Co. in the second quarter valued at approximately $34,000. Finally, West Financial Advisors LLC purchased a new position in shares of JPMorgan Chase & Co. during the third quarter valued at approximately $37,000. 71.55% of the stock is owned by institutional investors.

JPMorgan Chase & Co. Stock Performance

The company has a market cap of $690.69 billion, a PE ratio of 13.65, a PEG ratio of 3.50 and a beta of 1.10. The company has a 50-day moving average of $218.84 and a 200-day moving average of $209.56. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.27.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Friday, October 11th. The financial services provider reported $4.37 EPS for the quarter, beating the consensus estimate of $4.02 by $0.35. JPMorgan Chase & Co. had a net margin of 19.64% and a return on equity of 16.71%. The company had revenue of $43.32 billion during the quarter, compared to the consensus estimate of $41.43 billion. During the same quarter in the prior year, the company posted $4.33 earnings per share. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. As a group, analysts anticipate that JPMorgan Chase & Co. will post 17.62 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, October 4th were paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date of this dividend was Friday, October 4th. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s payout ratio is presently 27.82%.

About JPMorgan Chase & Co.

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.