JPMorgan Chase & Co. (NYSE:JPM) Price Target Raised to $352.00

JPMorgan Chase & Co. (NYSE:JPM) had its target price lifted by Truist Financial from $344.00 to $352.00 in a research note issued to investors on Wednesday morning, MarketBeat reports. The brokerage currently has a hold rating on the financial services provider’s stock.

A number of other research analysts have also issued reports on the stock. Jefferies Financial Group set a $350.00 target price on shares of JPMorgan Chase & Co. in a research note on Tuesday. UBS Group upped their price target on shares of JPMorgan Chase & Co. from $375.00 to $384.00 and gave the company a “buy” rating in a report on Tuesday, July 7th. Piper Sandler raised their price target on JPMorgan Chase & Co. from $325.00 to $345.00 and gave the company an “overweight” rating in a research report on Wednesday, April 15th. Dbs Bank raised JPMorgan Chase & Co. to a “hold” rating in a research report on Tuesday, May 12th. Finally, Bank of America lifted their price objective on JPMorgan Chase & Co. from $362.00 to $408.00 and gave the stock a “buy” rating in a research note on Tuesday, July 7th. Fifteen analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $354.92.

JPMorgan Chase & Co. Trading Down 0.5%

Shares of JPM stock opened at $341.60 on Wednesday. JPMorgan Chase & Co. has a 12 month low of $279.10 and a 12 month high of $351.24. The company has a quick ratio of 0.86, a current ratio of 0.85 and a debt-to-equity ratio of 1.30. The business’s 50 day moving average is $319.11 and its two-hundred day moving average is $310.31. The company has a market cap of $915.33 billion, a PE ratio of 14.64, a price-to-earnings-growth ratio of 1.54 and a beta of 0.99.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings results on Tuesday, April 14th. The financial services provider reported $5.94 EPS for the quarter, beating analysts’ consensus estimates of $5.50 by $0.44. JPMorgan Chase & Co. had a net margin of 21.86% and a return on equity of 18.23%. The company had revenue of $50.54 billion for the quarter, compared to analyst estimates of $48.30 billion. During the same quarter last year, the firm posted $5.07 earnings per share. The company’s quarterly revenue was up 10.0% compared to the same quarter last year. Equities analysts predict that JPMorgan Chase & Co. will post 23.24 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Monday, July 6th will be given a dividend of $1.50 per share. The ex-dividend date of this dividend is Monday, July 6th. This represents a $6.00 dividend on an annualized basis and a yield of 1.8%. JPMorgan Chase & Co.’s payout ratio is 25.71%.

Insider Activity at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 5,468 shares of the stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $300.27, for a total value of $1,641,876.36. Following the completion of the sale, the general counsel directly owned 46,428 shares of the company’s stock, valued at $13,940,935.56. This represents a 10.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Jeremy Barnum sold 3,022 shares of the stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $309.41, for a total transaction of $935,037.02. Following the completion of the sale, the chief financial officer directly owned 32,438 shares of the company’s stock, valued at approximately $10,036,641.58. This trade represents a 8.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 18,876 shares of company stock worth $5,907,051 in the last ninety days. 0.41% of the stock is currently owned by insiders.

Hedge Funds Weigh In On JPMorgan Chase & Co.

Large investors have recently added to or reduced their stakes in the company. Roxbury Financial LLC grew its holdings in shares of JPMorgan Chase & Co. by 0.4% in the 4th quarter. Roxbury Financial LLC now owns 8,011 shares of the financial services provider’s stock worth $2,581,000 after acquiring an additional 31 shares during the period. Collective Family Office LLC raised its holdings in JPMorgan Chase & Co. by 1.0% during the fourth quarter. Collective Family Office LLC now owns 3,339 shares of the financial services provider’s stock worth $1,076,000 after purchasing an additional 32 shares during the last quarter. Essential Planning LLC. boosted its position in JPMorgan Chase & Co. by 2.4% during the fourth quarter. Essential Planning LLC. now owns 1,399 shares of the financial services provider’s stock worth $451,000 after purchasing an additional 33 shares in the last quarter. Sterling Group Wealth Management LLC grew its holdings in JPMorgan Chase & Co. by 0.8% in the first quarter. Sterling Group Wealth Management LLC now owns 4,020 shares of the financial services provider’s stock valued at $1,183,000 after purchasing an additional 33 shares during the last quarter. Finally, Tevis Investment Management increased its position in shares of JPMorgan Chase & Co. by 0.8% in the third quarter. Tevis Investment Management now owns 4,238 shares of the financial services provider’s stock valued at $1,337,000 after buying an additional 34 shares in the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

Key Headlines Impacting JPMorgan Chase & Co.

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

• Positive Sentiment: JPMorgan’s blowout Q2 earnings are driving bullish sentiment, with the bank reporting record profits, 41% higher net income, strong trading and investment banking activity, and higher full-year net interest income guidance. JPMorgan Just Reported $21.2 Billion in Q2 Net Income — Up 41% — and CEO Jamie Dimon Said the Economy Is “Close to as Good as It Gets.”
• Positive Sentiment: Analysts have been raising expectations after the results, including multiple higher price targets and upgraded earnings forecasts, signaling confidence that JPMorgan can continue to outperform. JPMorgan Price Target Raised to $380 on Strong Q2 Results, Upgraded Outlook and Capital Strength
• Positive Sentiment: The stock is also benefiting from expectations that JPMorgan may raise its quarterly dividend by 10% after passing the Federal Reserve stress test, reinforcing the bank’s capital strength and shareholder-return story. JPM Stock Just Staged a Record Bull Run. 1 Analyst Thinks It Can Still Soar to $420.
• Neutral Sentiment: JPMorgan was added to several “Strong Buy” and momentum/income stock lists, which adds to positive sentiment but is less directly impactful than earnings or guidance. New Strong Buy Stocks for July 17th
• Neutral Sentiment: JPMorgan also drew attention for major financing activity and a $24 million Philadelphia shipbuilding investment, highlighting ongoing business expansion and capital deployment. JPMorgan Chase (JPM) Puts $24 Million Into Philadelphia Shipbuilding And Defense
• Negative Sentiment: Late-day sector weakness in financial stocks may be limiting JPMorgan’s upside even as company-specific fundamentals remain strong. Sector Update: Financial Stocks Decline Friday Afternoon

About JPMorgan Chase & Co.

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.