JPMorgan Chase & Co. (JPM) Sees Strong Trading Volume on Earnings Beat
JPMorgan Chase & Co. (NYSE:JPM) saw strong trading volume on Friday after the company announced better than expected quarterly earnings. 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 EPS for the quarter, beating the 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 firm earned $25.50 billion during the quarter, compared to analysts’ expectations of $23.99 billion. During the same quarter last year, the firm earned $1.54 earnings per share. The business’s revenue for the quarter was up 8.3% on a year-over-year basis.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 31st. Investors of record on Thursday, October 6th will be issued a $0.48 dividend. The ex-dividend date of this dividend is Tuesday, October 4th. This represents a $1.92 annualized dividend and a dividend yield of 2.84%. JPMorgan Chase & Co.’s dividend payout ratio is presently 32.54%.
Several equities research analysts recently commented on the company. Goldman Sachs Group Inc. reaffirmed a “neutral” rating and issued a $71.00 price target on shares of JPMorgan Chase & Co. in a report on Saturday. Barclays PLC reissued an “overweight” rating and set a $79.00 target price on shares of JPMorgan Chase & Co. in a research note on Wednesday. Compass Point started coverage on JPMorgan Chase & Co. in a research note on Tuesday, October 11th. They set a “sell” rating for the company. Jefferies Group raised their target price on JPMorgan Chase & Co. from $67.00 to $77.00 and gave the stock a “buy” rating in a research note on Monday, October 10th. Finally, Sandler O’Neill cut JPMorgan Chase & Co. from a “buy” rating to a “hold” rating and set a $72.00 target price for the company. in a research note on Thursday, October 6th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty-two have issued a buy rating to the company’s stock. JPMorgan Chase & Co. presently has an average rating of “Buy” and a consensus target price of $72.35.
A number of large investors have recently made changes to their positions in the stock. Acrospire Investment Management LLC acquired a new stake in shares of JPMorgan Chase & Co. during the first quarter worth $107,000. Jackson Grant Investment Advisers Inc. raised its stake in shares of 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 valued at $125,000 after buying an additional 14 shares during the period. Vigilant Capital Management LLC raised its stake in shares of 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 valued at $129,000 after buying an additional 376 shares during the period. Perkins Coie Trust Co raised its stake in shares of 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 valued at $134,000 after buying an additional 200 shares during the period. Finally, CT Financial Advisors LLC raised its stake in shares of 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 valued at $146,000 after buying an additional 89 shares during the period. 73.34% of the stock is currently owned by institutional investors.
The company has a 50 day moving average of $67.03 and a 200 day moving average of $64.01. The stock has a market cap of $243.85 billion, a price-to-earnings ratio of 11.44 and a beta of 1.54.
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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