JPMorgan Chase & Co. (NYSE:JPM) Hits New 1-Year High After Analyst Upgrade


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Shares of JPMorgan Chase & Co. (NYSE:JPM) hit a new 52-week high on Tuesday after Bank of America upgraded the stock from a neutral rating to a buy rating. The company traded as high as $141.22 and last traded at $140.88, with a volume of 285845 shares changing hands. The stock had previously closed at $138.05.

A number of other brokerages have also recently weighed in on JPM. Credit Suisse Group lifted their price target on shares of JPMorgan Chase & Co. from $126.00 to $142.00 and gave the company an “outperform” rating in a research report on Friday, December 11th. Jefferies Financial Group raised shares of JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and lifted their price target for the company from $110.00 to $152.00 in a research report on Thursday, January 7th. Independent Research cut shares of JPMorgan Chase & Co. from a “buy” rating to a “hold” rating and set a $125.00 price target on the stock. in a research report on Thursday, December 3rd. Daiwa Capital Markets began coverage on shares of JPMorgan Chase & Co. in a research report on Wednesday, January 6th. They set an “outperform” rating and a $139.00 price target on the stock. Finally, Barclays lifted their price target on shares of JPMorgan Chase & Co. from $144.00 to $164.00 and gave the company an “overweight” rating in a research report on Monday, January 4th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eighteen have assigned a buy rating to the stock. JPMorgan Chase & Co. presently has an average rating of “Buy” and a consensus price target of $121.51.

In related news, CFO Jennifer Piepszak sold 3,297 shares of the company’s stock in a transaction on Monday, October 26th. The shares were sold at an average price of $101.11, for a total value of $333,359.67. Also, insider Nicole Giles sold 2,281 shares of the company’s stock in a transaction on Monday, October 26th. The shares were sold at an average price of $100.98, for a total transaction of $230,335.38. Insiders sold 21,386 shares of company stock worth $2,460,813 over the last ninety days. 0.78% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. Arlington Partners LLC increased its stake in JPMorgan Chase & Co. by 21.5% during the fourth quarter. Arlington Partners LLC now owns 480 shares of the financial services provider’s stock valued at $61,000 after purchasing an additional 85 shares during the last quarter. Johnson Financial Group Inc. increased its stake in JPMorgan Chase & Co. by 0.3% during the third quarter. Johnson Financial Group Inc. now owns 30,520 shares of the financial services provider’s stock valued at $2,938,000 after purchasing an additional 89 shares during the last quarter. Stuart Chaussee & Associates Inc. increased its stake in JPMorgan Chase & Co. by 25.9% during the third quarter. Stuart Chaussee & Associates Inc. now owns 466 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 96 shares during the last quarter. Tortoise Investment Management LLC increased its stake in JPMorgan Chase & Co. by 2.0% during the third quarter. Tortoise Investment Management LLC now owns 5,018 shares of the financial services provider’s stock valued at $483,000 after purchasing an additional 100 shares during the last quarter. Finally, First National Bank Sioux Falls increased its stake in JPMorgan Chase & Co. by 1.4% during the fourth quarter. First National Bank Sioux Falls now owns 7,366 shares of the financial services provider’s stock valued at $936,000 after purchasing an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 62.92% of the company’s stock.

The firm’s 50-day moving average price is $124.63 and its 200 day moving average price is $106.64. The firm has a market cap of $427.82 billion, a P/E ratio of 18.35, a price-to-earnings-growth ratio of 3.20 and a beta of 1.22. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.16.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings results on Monday, October 19th. The financial services provider reported $2.92 EPS for the quarter, topping the consensus estimate of $2.23 by $0.69. The business had revenue of $29.90 billion during the quarter, compared to analyst estimates of $28.20 billion. JPMorgan Chase & Co. had a net margin of 19.16% and a return on equity of 10.85%. The company’s quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.68 earnings per share. On average, equities analysts predict that JPMorgan Chase & Co. will post 7.48 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Sunday, January 31st. Stockholders of record on Wednesday, January 6th will be given a dividend of $0.90 per share. The ex-dividend date of this dividend is Tuesday, January 5th. This represents a $3.60 annualized dividend and a dividend yield of 2.57%. JPMorgan Chase & Co.’s dividend payout ratio is currently 34.35%.

JPMorgan Chase & Co. Company Profile (NYSE:JPM)

JPMorgan Chase & Co operates as a financial services company worldwide. It operates in four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit and investment products and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit card, payment processing, auto loan, and leasing services.

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