JPMorgan Chase & Co. (NYSE:JPM) saw an uptick in trading volume on Friday following a better than expected earnings announcement. 16,300,340 shares were traded during mid-day trading, a decline of 3% from the previous session’s volume of 16,720,012 shares.The stock last traded at $67.79 and had previously closed at $67.74.
The financial services provider reported $1.58 earnings per share for the quarter, topping the Thomson Reuters’ 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 analysts’ expectations of $23.99 billion. During the same period in the prior year, the business earned $1.54 EPS. The business’s revenue for the quarter was up 8.3% compared to the same quarter last year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 31st. Shareholders of record on Thursday, October 6th will be issued a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 2.83%. The ex-dividend date of this dividend is Tuesday, October 4th. JPMorgan Chase & Co.’s dividend payout ratio is 32.54%.
Several research analysts have recently commented on the company. Compass Point assumed coverage on JPMorgan Chase & Co. in a research report on Tuesday. They issued a “sell” rating for the company. Barclays PLC reissued an “overweight” rating and issued a $79.00 price target on shares of JPMorgan Chase & Co. in a research report on Wednesday. Jefferies Group boosted their price target on JPMorgan Chase & Co. from $67.00 to $77.00 and gave the stock a “buy” rating in a research report on Monday. Sandler O’Neill lowered JPMorgan Chase & Co. from a “buy” rating to a “hold” rating and set a $72.00 price target for the company. in a research report on Thursday, October 6th. Finally, Nomura reduced their price target on JPMorgan Chase & Co. from $66.00 to $65.00 and set a “neutral” rating for the company in a research report on Wednesday, September 7th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty-three have assigned a buy rating to the stock. JPMorgan Chase & Co. currently has a consensus rating of “Buy” and a consensus price target of $72.25.
Hedge funds have recently bought and sold shares of the company. Acrospire Investment Management LLC purchased a new stake in JPMorgan Chase & Co. during the first quarter worth approximately $107,000. Jackson Grant Investment Advisers Inc. boosted its stake in JPMorgan Chase & Co. by 0.7% in the second quarter. Jackson Grant Investment Advisers Inc. now owns 2,014 shares of the financial services provider’s stock worth $125,000 after buying an additional 14 shares during the period. Vigilant Capital Management LLC boosted its stake in JPMorgan Chase & Co. by 22.1% in the second quarter. Vigilant Capital Management LLC now owns 2,079 shares of the financial services provider’s stock worth $129,000 after buying an additional 376 shares during the period. Perkins Coie Trust Co boosted its stake in JPMorgan Chase & Co. by 10.2% in the second quarter. Perkins Coie Trust Co now owns 2,163 shares of the financial services provider’s stock worth $134,000 after buying an additional 200 shares during the period. Finally, CT Financial Advisors LLC boosted its stake in JPMorgan Chase & Co. by 4.2% in the third quarter. CT Financial Advisors LLC now owns 2,187 shares of the financial services provider’s stock worth $146,000 after buying an additional 89 shares during the period. Institutional investors and hedge funds own 73.34% of the company’s stock.
The stock has a market cap of $245.08 billion, a price-to-earnings ratio of 11.50 and a beta of 1.54. The company has a 50 day moving average price of $66.99 and a 200-day moving average price of $63.95.
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.
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