JPMorgan Chase & Co. (NYSE:JPM) announced its earnings results on Friday. The financial services provider reported $1.58 EPS for the quarter, beating the consensus estimate of $1.39 by $0.19. JPMorgan Chase & Co. had a return on equity of 10.20% and a net margin of 24.47%. The business earned $25.50 billion during the quarter, compared to the consensus estimate of $23.99 billion.
Shares of JPMorgan Chase & Co. (NYSE:JPM) opened at 67.74 on Friday. JPMorgan Chase & Co. has a 12-month low of $52.50 and a 12-month high of $69.06. The company’s 50-day moving average price is $66.99 and its 200-day moving average price is $63.95. The firm has a market capitalization of $244.64 billion, a PE ratio of 11.48 and a beta of 1.54.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 31st. Investors of record on Thursday, October 6th will be issued a dividend of $0.48 per share. The ex-dividend date of this dividend is Tuesday, October 4th. This represents a $1.92 dividend on an annualized basis and a yield of 2.83%. JPMorgan Chase & Co.’s dividend payout ratio is 32.54%.
A number of institutional investors have recently made changes to their positions in the company. Cascade Investment Advisors Inc. purchased a new position in JPMorgan Chase & Co. during the second quarter valued at approximately $183,000. Signature Estate & Investment Advisors LLC purchased a new position in JPMorgan Chase & Co. during the second quarter valued at approximately $197,000. Valley National Advisers Inc. increased its position in JPMorgan Chase & Co. by 3.5% in the second quarter. Valley National Advisers Inc. now owns 3,234 shares of the financial services provider’s stock valued at $201,000 after buying an additional 110 shares during the last quarter. Hayek Kallen Investment Management purchased a new position in JPMorgan Chase & Co. during the second quarter valued at approximately $209,000. Finally, Pinkerton Retirement Specialists LLC increased its position in JPMorgan Chase & Co. by 5,905.2% in the second quarter. Pinkerton Retirement Specialists LLC now owns 3,483 shares of the financial services provider’s stock valued at $216,000 after buying an additional 3,425 shares during the last quarter. 73.34% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts have recently commented on JPM shares. Wells Fargo & Co. reaffirmed a “buy” rating on shares of JPMorgan Chase & Co. in a report on Saturday, July 9th. Argus reaffirmed a “buy” rating and set a $72.00 target price on shares of JPMorgan Chase & Co. in a report on Monday, July 18th. Compass Point started coverage on JPMorgan Chase & Co. in a report on Tuesday. They set a “sell” rating for the company. Sanford C. Bernstein downgraded JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating and upped their target price for the company from $65.72 to $67.00 in a report on Tuesday, August 16th. They noted that the move was a valuation call. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of JPMorgan Chase & Co. in a report on Tuesday, September 27th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and twenty-three have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $72.25.
JPMorgan Chase & Co. Company Profile
JPMorgan Chase & Co is a financial holding company. The Company is engaged in investment banking, financial services. It operates in four segments, as well as a Corporate segment. Its segments are Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking and Asset Management. The Consumer & Community Banking segment serves consumers and businesses through personal service at bank branches and through automatic teller machines, online, mobile and telephone banking.
Receive News & Ratings for JPMorgan Chase & Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for JPMorgan Chase & Co. and related companies with MarketBeat.com's FREE daily email newsletter.