Zacks Research Weighs in on JPMorgan Chase & Co.’s Q2 2024 Earnings (NYSE:JPM)

JPMorgan Chase & Co. (NYSE:JPM) – Investment analysts at Zacks Research cut their Q2 2024 earnings per share (EPS) estimates for JPMorgan Chase & Co. in a research note issued on Thursday, April 25th. Zacks Research analyst R. Department now forecasts that the financial services provider will post earnings per share of $3.94 for the quarter, down from their prior forecast of $4.03. The consensus estimate for JPMorgan Chase & Co.’s current full-year earnings is $15.90 per share. Zacks Research also issued estimates for JPMorgan Chase & Co.’s Q3 2024 earnings at $3.81 EPS, Q4 2024 earnings at $3.41 EPS, FY2024 earnings at $15.79 EPS, Q1 2025 earnings at $3.94 EPS, Q2 2025 earnings at $4.07 EPS, Q3 2025 earnings at $3.96 EPS, Q4 2025 earnings at $4.04 EPS, FY2025 earnings at $16.00 EPS, Q1 2026 earnings at $4.09 EPS and FY2026 earnings at $17.10 EPS.

A number of other equities analysts also recently commented on the stock. The Goldman Sachs Group restated a “buy” rating on shares of JPMorgan Chase & Co. in a research note on Thursday, February 1st. Bank of America increased their target price on shares of JPMorgan Chase & Co. from $177.00 to $188.00 and gave the stock a “buy” rating in a report on Thursday, January 4th. Jefferies Financial Group upped their price target on shares of JPMorgan Chase & Co. from $202.00 to $228.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Piper Sandler dropped their price objective on shares of JPMorgan Chase & Co. from $220.00 to $215.00 and set an “overweight” rating on the stock in a research note on Monday, April 15th. Finally, Oppenheimer reduced their price objective on shares of JPMorgan Chase & Co. from $219.00 to $217.00 and set an “outperform” rating for the company in a research note on Monday, April 15th. Eight equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, JPMorgan Chase & Co. presently has a consensus rating of “Moderate Buy” and a consensus target price of $192.05.

JPMorgan Chase & Co. Price Performance

Shares of JPM stock opened at $193.28 on Friday. The stock has a 50 day moving average price of $190.07 and a 200 day moving average price of $170.23. JPMorgan Chase & Co. has a 52-week low of $131.81 and a 52-week high of $200.94. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.91 and a current ratio of 0.92. The firm has a market capitalization of $555.12 billion, a P/E ratio of 11.67, a P/E/G ratio of 2.43 and a beta of 1.15.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Stone House Investment Management LLC boosted its stake in JPMorgan Chase & Co. by 132.8% during the 4th quarter. Stone House Investment Management LLC now owns 156 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 89 shares during the last quarter. Richardson Capital Management LLC acquired a new stake in JPMorgan Chase & Co. in the 1st quarter valued at about $34,000. Kathleen S. Wright Associates Inc. purchased a new position in JPMorgan Chase & Co. in the 1st quarter worth approximately $40,000. Bare Financial Services Inc acquired a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth approximately $35,000. Finally, Partnership Wealth Management LLC purchased a new stake in shares of JPMorgan Chase & Co. in the fourth quarter valued at approximately $36,000. 71.55% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Jennifer Piepszak sold 1,648 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $178.96, for a total value of $294,926.08. Following the completion of the transaction, the chief executive officer now owns 32,819 shares in the company, valued at approximately $5,873,288.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO James Dimon sold 821,778 shares of the firm’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $182.73, for a total transaction of $150,163,493.94. Following the sale, the chief executive officer now owns 595,316 shares in the company, valued at $108,782,092.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Jennifer Piepszak sold 1,648 shares of JPMorgan Chase & Co. stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $178.96, for a total value of $294,926.08. Following the completion of the transaction, the chief executive officer now owns 32,819 shares of the company’s stock, valued at approximately $5,873,288.24. The disclosure for this sale can be found here. Insiders have sold 1,020,696 shares of company stock valued at $186,794,151 over the last ninety days. 0.79% of the stock is currently owned by insiders.

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, April 5th will be paid a dividend of $1.15 per share. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.05. This represents a $4.60 annualized dividend and a dividend yield of 2.38%. The ex-dividend date of this dividend is Thursday, April 4th. JPMorgan Chase & Co.’s payout ratio is presently 27.78%.

JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit, investment and lending products, cash management, and payments and services; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.