A number of other equities analysts have also recently issued reports on the company. Vetr upgraded JPMorgan Chase & Co. from a strong sell rating to a sell rating and set a $57.51 target price on the stock in a report on Tuesday, July 5th. Berenberg Bank assumed coverage on JPMorgan Chase & Co. in a report on Wednesday, July 13th. They issued a sell rating on the stock. KeyCorp reiterated a buy rating on shares of JPMorgan Chase & Co. in a report on Tuesday, July 12th. Citigroup Inc. cut JPMorgan Chase & Co. from a buy rating to a neutral rating and set a $65.00 target price on the stock. in a report on Monday, August 8th. They noted that the move was a valuation call. Finally, Deutsche Bank AG reiterated a buy rating on shares of JPMorgan Chase & Co. in a report on Wednesday, June 15th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and twenty-two have given a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average price target of $71.68.
Shares of JPMorgan Chase & Co. (NYSE:JPM) opened at 66.36 on Tuesday. The stock has a 50 day moving average of $66.42 and a 200-day moving average of $63.37. JPMorgan Chase & Co. has a 12-month low of $52.50 and a 12-month high of $69.03. The firm has a market capitalization of $239.66 billion, a P/E ratio of 11.25 and a beta of 1.65.
JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results on Thursday, July 14th. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.12. The firm had revenue of $24.40 billion for the quarter, compared to analysts’ expectations of $23.84 billion. JPMorgan Chase & Co. had a return on equity of 10.20% and a net margin of 24.47%. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.54 EPS. On average, equities research analysts predict that JPMorgan Chase & Co. will post $5.65 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 31st. Investors of record on Thursday, October 6th will be given a $0.48 dividend. The ex-dividend date is Tuesday, October 4th. This represents a $1.92 dividend on an annualized basis and a yield of 2.89%. JPMorgan Chase & Co.’s payout ratio is 32.54%.
In other JPMorgan Chase & Co. news, EVP Gordon Smith sold 23,735 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Friday, July 15th. The stock was sold at an average price of $64.05, for a total value of $1,520,226.75. Following the transaction, the executive vice president now directly owns 152,462 shares of the company’s stock, valued at approximately $9,765,191.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ashley Bacon sold 15,521 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Friday, July 15th. The stock was sold at an average price of $63.97, for a total value of $992,878.37. Following the completion of the transaction, the insider now directly owns 14,938 shares in the company, valued at $955,583.86. The disclosure for this sale can be found here. 0.85% of the stock is owned by company insiders.
A number of institutional investors have recently made changes to their positions in the company. Emerald Acquisition Ltd. acquired a new position in JPMorgan Chase & Co. during the second quarter valued at about $546,431,000. Primecap Management Co. CA boosted its position in JPMorgan Chase & Co. by 43.5% in the first quarter. Primecap Management Co. CA now owns 20,518,581 shares of the financial services provider’s stock valued at $1,215,110,000 after buying an additional 6,218,550 shares during the period. Franklin Resources Inc. boosted its position in JPMorgan Chase & Co. by 15.6% in the first quarter. Franklin Resources Inc. now owns 42,060,882 shares of the financial services provider’s stock valued at $2,490,856,000 after buying an additional 5,685,864 shares during the period. Vanguard Group Inc. boosted its position in JPMorgan Chase & Co. by 2.1% in the second quarter. Vanguard Group Inc. now owns 229,636,598 shares of the financial services provider’s stock valued at $14,269,618,000 after buying an additional 4,692,609 shares during the period. Finally, Winslow Capital Management LLC acquired a new position in JPMorgan Chase & Co. during the second quarter valued at about $221,862,000. 73.34% of the stock is currently owned by institutional investors and hedge funds.
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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