JPMorgan Chase & Co. (NYSE:JPM) Trading 1.5% Higher – Still a Buy?

JPMorgan Chase & Co. (NYSE:JPM)’s share price was up 1.5% during mid-day trading on Thursday . The company traded as high as $314.72 and last traded at $313.8520. Approximately 9,076,419 shares were traded during mid-day trading, a decline of 9% from the average daily volume of 10,020,310 shares. The stock had previously closed at $309.14.

Key Stories Impacting JPMorgan Chase & Co.

Here are the key news stories impacting JPMorgan Chase & Co. this week:

• Positive Sentiment: JPMorgan CEO Jamie Dimon highlighted long-term growth opportunities in Mexico after meeting with President Claudia Sheinbaum, reinforcing the bank’s international expansion and client-franchise strength. JPMorgan’s Jamie Dimon Praises the Mexican Economy in High-Stakes Meeting With President Sheinbaum
• Positive Sentiment: JPMorgan’s private bank has reportedly doubled its Singapore team, signaling stronger wealth-management demand and continued growth in Asia. JPMorgan doubles private bankers in Singapore team to over 50: Sources
• Positive Sentiment: JPMorgan analysts have been constructive on multiple markets and sectors, including upbeat views on optical names and broader sector growth themes, which can reflect positively on JPMorgan’s research franchise and market positioning. Missed the rally in optical stocks? Coherent and Lumentum just got more attractive, according to J.P. Morgan.
• Neutral Sentiment: JPMorgan said May inflation may mark a “high-water mark,” with the Fed likely to hold rates steady for now; that is important for bank margins and trading activity, but the impact is still uncertain. JPMorgan Sees May as CPI ‘High-Water Mark’ With Fed Set to Hold
• Negative Sentiment: The biggest overhang is a reported Justice Department subpoena campaign targeting JPMorgan and other banks over alleged politically motivated account closures, which could create legal, compliance, and reputational risk. Justice Department opens sweeping ‘debanking’ probe into JPMorgan, Bank of America and more
• Negative Sentiment: Separate reporting says financial stocks were softer and JPMorgan shares slipped in prior trading, suggesting the group is also being pressured by a cautious market backdrop. JPMorgan Chase & Co. (JPM) Stock Moves -1.12%: What You Should Know

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on JPM. The Goldman Sachs Group set a $361.00 price target on JPMorgan Chase & Co. in a research report on Tuesday, April 14th. Piper Sandler boosted their price target on shares of JPMorgan Chase & Co. from $325.00 to $345.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 15th. Barclays reiterated a “buy” rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, May 6th. UBS Group dropped their price target on shares of JPMorgan Chase & Co. from $380.00 to $375.00 in a research note on Wednesday, May 6th. Finally, DZ Bank reiterated a “neutral” rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, April 15th. Fourteen analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $339.08.

JPMorgan Chase & Co. Trading Up 1.5%

The business has a 50 day simple moving average of $305.39 and a 200-day simple moving average of $306.75. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 1.30. The stock has a market capitalization of $840.97 billion, a price-to-earnings ratio of 15.03, a price-to-earnings-growth ratio of 1.53 and a beta of 1.00.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings results on Tuesday, April 14th. The financial services provider reported $5.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.50 by $0.44. The firm had revenue of $50.54 billion for the quarter, compared to analyst estimates of $48.30 billion. JPMorgan Chase & Co. had a return on equity of 17.54% and a net margin of 20.66%.The firm’s quarterly revenue was up 10.0% on a year-over-year basis. During the same period last year, the company earned $5.07 EPS. On average, equities analysts predict that JPMorgan Chase & Co. will post 22.4 earnings per share for the current year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Monday, July 6th will be issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Monday, July 6th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 28.74%.

Insider Transactions at JPMorgan Chase & Co.

In other news, General Counsel Stacey Friedman sold 5,468 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $300.27, for a total transaction of $1,641,876.36. Following the completion of the sale, the general counsel directly owned 46,428 shares in the company, valued at $13,940,935.56. This trade represents a 10.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Robin Leopold sold 433 shares of the business’s stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $295.06, for a total value of $127,760.98. Following the completion of the sale, the insider owned 64,920 shares of the company’s stock, valued at $19,155,295.20. This trade represents a 0.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 28,589 shares of company stock valued at $8,747,496. 0.41% of the stock is owned by company insiders.

Hedge Funds Weigh In On JPMorgan Chase & Co.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Morgan Stanley grew its position in JPMorgan Chase & Co. by 1.4% during the 4th quarter. Morgan Stanley now owns 66,385,268 shares of the financial services provider’s stock worth $21,390,662,000 after purchasing an additional 939,421 shares in the last quarter. Bank of America Corp DE boosted its holdings in shares of JPMorgan Chase & Co. by 15.8% during the first quarter. Bank of America Corp DE now owns 65,660,460 shares of the financial services provider’s stock worth $19,314,681,000 after purchasing an additional 8,941,351 shares during the period. Norges Bank acquired a new stake in shares of JPMorgan Chase & Co. during the fourth quarter worth approximately $11,396,496,000. Bank of New York Mellon Corp boosted its position in JPMorgan Chase & Co. by 5.4% during the fourth quarter. Bank of New York Mellon Corp now owns 23,424,482 shares of the financial services provider’s stock worth $7,547,837,000 after purchasing an additional 1,194,583 shares during the period. Finally, Legal & General Group Plc boosted its position in JPMorgan Chase & Co. by 0.6% during the fourth quarter. Legal & General Group Plc now owns 19,019,564 shares of the financial services provider’s stock worth $6,128,484,000 after purchasing an additional 110,586 shares during the period. Institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co (NYSE: JPM) is a diversified global financial services firm headquartered in New York City. The company provides a wide range of banking and financial products and services to consumers, small businesses, corporations, governments and institutional investors worldwide. Its operations span retail banking, commercial lending, investment banking, asset management, payments and card services, and treasury and securities services.

The firm’s principal business activities are organized across several core lines: Consumer & Community Banking, which offers deposit accounts, mortgages, auto loans, credit cards and branch and digital banking under the Chase brand; Corporate & Investment Banking, which provides capital markets, advisory, underwriting, trading and risk management services; Commercial Banking, delivering lending, treasury and capital solutions to middle-market and corporate clients; and Asset & Wealth Management, which offers investment management, private banking and retirement services to institutions and high-net-worth individuals.