JPMorgan Chase & Co. (NYSE:JPM) – Equities researchers at Jefferies Financial Group reduced their Q3 2018 EPS estimates for shares of JPMorgan Chase & Co. in a research note issued on Monday, October 8th. Jefferies Financial Group analyst K. Usdin now forecasts that the financial services provider will post earnings of $2.31 per share for the quarter, down from their previous forecast of $2.39. Jefferies Financial Group also issued estimates for JPMorgan Chase & Co.’s FY2018 earnings at $9.25 EPS and FY2020 earnings at $10.85 EPS.
JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Friday, July 13th. The financial services provider reported $2.29 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.22 by $0.07. JPMorgan Chase & Co. had a net margin of 22.80% and a return on equity of 13.18%. The firm had revenue of $27.75 billion during the quarter, compared to analyst estimates of $27.62 billion.
Other equities analysts have also issued reports about the stock. Keefe, Bruyette & Woods reiterated a “$111.53” rating and set a $127.00 target price on shares of JPMorgan Chase & Co. in a report on Wednesday, July 18th. Royal Bank of Canada reiterated a “buy” rating and set a $120.00 target price on shares of JPMorgan Chase & Co. in a report on Monday, July 16th. Credit Suisse Group set a $130.00 target price on shares of JPMorgan Chase & Co. and gave the company a “buy” rating in a report on Thursday, July 12th. DZ Bank upgraded shares of JPMorgan Chase & Co. from a “hold” rating to a “buy” rating in a report on Thursday, July 19th. Finally, UBS Group upgraded shares of JPMorgan Chase & Co. from a “hold” rating to a “buy” rating in a report on Thursday, July 19th. Eleven equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $122.13.
JPM stock opened at $115.32 on Tuesday. JPMorgan Chase & Co. has a 52-week low of $94.96 and a 52-week high of $119.33. The company has a market cap of $387.26 billion, a PE ratio of 16.79, a price-to-earnings-growth ratio of 1.85 and a beta of 1.17. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.18.
Large investors have recently bought and sold shares of the business. Quad Cities Investment Group LLC bought a new stake in shares of JPMorgan Chase & Co. during the 2nd quarter valued at $124,000. Ballew Advisors Inc grew its position in shares of JPMorgan Chase & Co. by 104.2% during the 2nd quarter. Ballew Advisors Inc now owns 1,213 shares of the financial services provider’s stock valued at $126,000 after acquiring an additional 619 shares during the period. Financial Gravity Wealth Inc. bought a new stake in shares of JPMorgan Chase & Co. during the 1st quarter valued at $150,000. Kwmg LLC bought a new stake in shares of JPMorgan Chase & Co. during the 2nd quarter valued at $158,000. Finally, Stelac Advisory Services LLC bought a new stake in shares of JPMorgan Chase & Co. during the 1st quarter valued at $162,000. 70.56% of the stock is owned by institutional investors and hedge funds.
In other JPMorgan Chase & Co. news, CEO Gordon Smith sold 30,725 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Monday, July 23rd. The shares were sold at an average price of $114.01, for a total value of $3,502,957.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.73% of the company’s stock.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 31st. Shareholders of record on Friday, October 5th will be given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date of this dividend is Thursday, October 4th. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $0.56. JPMorgan Chase & Co.’s payout ratio is 46.58%.
JPMorgan Chase & Co. Company Profile
JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking, and Asset & Wealth Management. The Consumer & Community Banking segment offers deposit and investment products and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; residential mortgages and home equity loans; and credit cards, payment processing services, auto loans and leases.
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