JPMorgan Chase & Co. (JPM) Announces Quarterly Earnings Results, Beats Estimates By $0.10 EPS

JPMorgan Chase & Co. (NYSE:JPM) posted its earnings results on Friday. The financial services provider reported $2.34 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.24 by $0.10, MarketWatch Earnings reports. JPMorgan Chase & Co. had a return on equity of 13.18% and a net margin of 22.80%. During the same quarter last year, the business posted $1.76 EPS.

JPM opened at $106.95 on Friday. JPMorgan Chase & Co. has a one year low of $94.96 and a one year high of $119.33. The stock has a market capitalization of $387.26 billion, a PE ratio of 15.57, a price-to-earnings-growth ratio of 1.85 and a beta of 1.17. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.18.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 31st. Stockholders of record on Friday, October 5th will be issued a $0.80 dividend. The ex-dividend date of this dividend is Thursday, October 4th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.99%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $0.56. JPMorgan Chase & Co.’s dividend payout ratio is presently 46.58%.

In other news, CEO Gordon Smith sold 30,725 shares of the stock in a transaction dated Monday, July 23rd. The stock was 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 SEC, which is accessible through this hyperlink. Corporate insiders own 0.73% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tiedemann Advisors LLC increased its holdings in shares of JPMorgan Chase & Co. by 31.8% in the 2nd quarter. Tiedemann Advisors LLC now owns 33,906 shares of the financial services provider’s stock valued at $3,533,000 after acquiring an additional 8,174 shares during the last quarter. Verition Fund Management LLC grew its stake in JPMorgan Chase & Co. by 262.7% during the 2nd quarter. Verition Fund Management LLC now owns 89,250 shares of the financial services provider’s stock worth $9,300,000 after buying an additional 64,646 shares during the last quarter. NorthCoast Asset Management LLC grew its stake in JPMorgan Chase & Co. by 0.4% during the 2nd quarter. NorthCoast Asset Management LLC now owns 179,116 shares of the financial services provider’s stock worth $18,664,000 after buying an additional 664 shares during the last quarter. Morse Asset Management Inc grew its stake in JPMorgan Chase & Co. by 6.2% during the 2nd quarter. Morse Asset Management Inc now owns 7,785 shares of the financial services provider’s stock worth $811,000 after buying an additional 455 shares during the last quarter. Finally, Advisors Asset Management Inc. grew its stake in JPMorgan Chase & Co. by 4.4% during the 2nd quarter. Advisors Asset Management Inc. now owns 296,258 shares of the financial services provider’s stock worth $30,870,000 after buying an additional 12,538 shares during the last quarter. Institutional investors and hedge funds own 70.56% of the company’s stock.

A number of equities research analysts have issued reports on the company. Wolfe Research assumed coverage on JPMorgan Chase & Co. in a research report on Tuesday, September 25th. They issued an “outperform” rating on the stock. Citigroup increased their price target on JPMorgan Chase & Co. from $115.00 to $125.00 and gave the company a “neutral” rating in a research report on Wednesday, September 26th. Zacks Investment Research raised JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and set a $127.00 price target on the stock in a research report on Friday, September 14th. Bank of America increased their price target on JPMorgan Chase & Co. from $126.00 to $132.00 and gave the company a “buy” rating in a research report on Monday, September 17th. Finally, DZ Bank raised JPMorgan Chase & Co. from a “hold” rating to a “buy” rating in a research report on Thursday, July 19th. Ten equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. JPMorgan Chase & Co. currently has an average rating of “Buy” and a consensus target price of $121.99.

About JPMorgan Chase & Co.

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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Earnings History for JPMorgan Chase & Co. (NYSE:JPM)

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