JPMorgan Chase & Co. (NYSE:JPM) Trading 3.4% Higher – What’s Next?

JPMorgan Chase & Co. (NYSE:JPM)’s stock price shot up 3.4% during mid-day trading on Thursday . The company traded as high as $312.91 and last traded at $310.9850. 10,202,661 shares were traded during trading, an increase of 1% from the average session volume of 10,075,112 shares. The stock had previously closed at $300.85.

Trending Headlines about JPMorgan Chase & Co.

Here are the key news stories impacting JPMorgan Chase & Co. this week:

• Positive Sentiment: JPMorgan CEO Jamie Dimon is leading a nationwide pitch to thousands of wealthy clients for SpaceX’s planned IPO, underscoring JPMorgan’s ability to win high-profile deal business and drive investment banking fees. JPMorgan Mobilizes 2,500 Clients Ahead Of $1.8 Trillion SpaceX IPO
• Positive Sentiment: Traders are rotating into financials, and JPMorgan is benefiting from the shift away from high-flying technology names. JPMorgan Stock Rises As Investors Rotate Into Financials
• Positive Sentiment: Wall Street commentary continues to frame JPMorgan as a strong large-cap financial holding, with acquisition capacity of roughly $10 billion to $20 billion adding to the growth optionality. JPMorgan Chase & Co (JPM) on the Lookout for Acquisition Opportunities

Analysts Set New Price Targets

Several research firms have weighed in on JPM. Jefferies Financial Group reaffirmed a “neutral” rating on shares of JPMorgan Chase & Co. in a research report on Monday, May 4th. Wells Fargo & Company dropped their price objective on shares of JPMorgan Chase & Co. from $360.00 to $350.00 and set an “overweight” rating for the company in a report on Tuesday, February 17th. Argus upped their target price on shares of JPMorgan Chase & Co. from $340.00 to $355.00 and gave the stock a “buy” rating in a research note on Wednesday, April 15th. DZ Bank reiterated a “neutral” rating on shares of JPMorgan Chase & Co. in a report on Wednesday, April 15th. Finally, Piper Sandler increased their target price on shares of JPMorgan Chase & Co. from $325.00 to $345.00 and gave the stock an “overweight” rating in a report on Wednesday, April 15th. Fourteen analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, JPMorgan Chase & Co. has an average rating of “Hold” and an average price target of $339.08.

JPMorgan Chase & Co. Price Performance

The stock’s 50 day moving average is $303.16 and its two-hundred day moving average is $306.39. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.86 and a quick ratio of 0.86. The stock has a market capitalization of $833.29 billion, a PE ratio of 14.89, a price-to-earnings-growth ratio of 1.47 and a beta of 1.00.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Tuesday, April 14th. The financial services provider reported $5.94 earnings per share for the quarter, topping analysts’ consensus estimates of $5.50 by $0.44. JPMorgan Chase & Co. had a net margin of 20.66% and a return on equity of 17.54%. The firm had revenue of $50.54 billion for the quarter, compared to analyst estimates of $48.30 billion. During the same period in the prior year, the firm earned $5.07 earnings per share. The business’s quarterly revenue was up 10.0% compared to the same quarter last year. As a group, sell-side analysts forecast that JPMorgan Chase & Co. will post 22.4 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Monday, July 6th will be given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Monday, July 6th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 28.74%.

Insiders Place Their Bets

In other news, General Counsel Stacey Friedman sold 5,468 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $300.27, for a total transaction of $1,641,876.36. Following the sale, the general counsel owned 46,428 shares of the company’s stock, valued at approximately $13,940,935.56. This trade represents a 10.54% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jennifer Piepszak sold 4,919 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $309.42, for a total value of $1,522,036.98. Following the sale, the chief operating officer directly owned 85,082 shares in the company, valued at $26,326,072.44. This trade represents a 5.47% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 28,589 shares of company stock worth $8,747,496 over the last 90 days. Insiders own 0.41% of the company’s stock.

Institutional Investors Weigh In On JPMorgan Chase & Co.

Several hedge funds and other institutional investors have recently made changes to their positions in JPM. Timmons Wealth Management LLC acquired a new stake in shares of JPMorgan Chase & Co. during the 4th quarter worth about $27,000. MBM Wealth Consultants LLC acquired a new stake in shares of JPMorgan Chase & Co. during the 1st quarter worth about $29,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of JPMorgan Chase & Co. during the 4th quarter worth about $32,000. Osbon Capital Management LLC acquired a new stake in shares of JPMorgan Chase & Co. during the 4th quarter worth about $35,000. Finally, Turning Point Benefit Group Inc. acquired a new stake in shares of JPMorgan Chase & Co. during the 3rd quarter worth about $35,000. Institutional investors and hedge funds own 71.55% of the company’s stock.

JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co (NYSE: JPM) is a diversified global financial services firm headquartered in New York City. The company provides a wide range of banking and financial products and services to consumers, small businesses, corporations, governments and institutional investors worldwide. Its operations span retail banking, commercial lending, investment banking, asset management, payments and card services, and treasury and securities services.

The firm’s principal business activities are organized across several core lines: Consumer & Community Banking, which offers deposit accounts, mortgages, auto loans, credit cards and branch and digital banking under the Chase brand; Corporate & Investment Banking, which provides capital markets, advisory, underwriting, trading and risk management services; Commercial Banking, delivering lending, treasury and capital solutions to middle-market and corporate clients; and Asset & Wealth Management, which offers investment management, private banking and retirement services to institutions and high-net-worth individuals.