According to Zacks, “JPMorgan's energy exposure will remain an overhang in the near-term, with management expecting incremental reserve build this year. Moreover, top line growth is likely to remain challenged in the near-term owing to continued pressure on fee income. Also, with the enforcement of new banking regulations, additional pressure on fee income is expected in the near term. However, the company is expected to witness a rise in interest income driven by solid loan growth. Further, synergies from improving retail banking performance and cost-containment efforts will help the company improve its profitability.”
A number of other analysts also recently issued reports on JPM. Deutsche Bank AG reissued a buy rating on shares of JPMorgan Chase & Co. in a report on Saturday, June 4th. Robert W. Baird reaffirmed an outperform rating and set a $75.00 price objective on shares of JPMorgan Chase & Co. in a report on Monday, June 6th. Sanford C. Bernstein reaffirmed a buy rating on shares of JPMorgan Chase & Co. in a report on Monday, June 6th. Societe Generale reaffirmed a buy rating on shares of JPMorgan Chase & Co. in a report on Monday, June 6th. Finally, Vetr downgraded shares of JPMorgan Chase & Co. from a buy rating to a hold rating and set a $65.34 price objective on the stock. in a report on Thursday, June 9th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and twenty-one have assigned a buy rating to the company’s stock. JPMorgan Chase & Co. currently has an average rating of Buy and a consensus price target of $71.34.
JPMorgan Chase & Co. (NYSE:JPM) opened at 67.39 on Tuesday. The stock has a market capitalization of $243.38 billion, a PE ratio of 11.42 and a beta of 1.65. JPMorgan Chase & Co. has a 1-year low of $52.50 and a 1-year high of $69.03. The company’s 50 day moving average is $66.35 and its 200-day moving average is $63.16.
JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Thursday, July 14th. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.43 by $0.12. JPMorgan Chase & Co. had a net margin of 24.47% and a return on equity of 10.20%. The firm had revenue of $24.40 billion for the quarter, compared to the consensus estimate of $23.84 billion. During the same period in the prior year, the firm posted $1.54 earnings per share. The firm’s quarterly revenue was up 2.5% compared to the same quarter last year. Analysts forecast that JPMorgan Chase & Co. will post $5.65 earnings per share for the current fiscal 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. The ex-dividend date is Tuesday, October 4th. This represents a $1.92 dividend on an annualized basis and a yield of 2.85%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 32.54%.
In other JPMorgan Chase & Co. news, EVP Gordon Smith sold 23,735 shares of the company’s stock in a transaction dated Friday, July 15th. The shares were 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 in the company, valued at approximately $9,765,191.10. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Matthew E. Zames sold 3,991 shares of the company’s stock in a transaction dated Friday, July 15th. The shares were sold at an average price of $63.91, for a total transaction of $255,064.81. Following the completion of the transaction, the chief operating officer now owns 282,287 shares in the company, valued at $18,040,962.17. The disclosure for this sale can be found here. 0.85% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Emerald Acquisition Ltd. bought a new position in JPMorgan Chase & Co. during the second quarter worth approximately $546,431,000. Primecap Management Co. CA increased 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 worth $1,215,110,000 after buying an additional 6,218,550 shares in the last quarter. Franklin Resources Inc. increased 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 worth $2,490,856,000 after buying an additional 5,685,864 shares in the last quarter. Vanguard Group Inc. increased 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 worth $14,269,618,000 after buying an additional 4,692,609 shares in the last quarter. Finally, Winslow Capital Management LLC bought a new position in JPMorgan Chase & Co. during the second quarter worth approximately $221,862,000. Institutional investors own 73.34% of the company’s stock.
About JPMorgan Chase & Co.
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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