JPMorgan Chase & Co. (NYSE:JPM) Trading Up 1% – Here’s Why

JPMorgan Chase & Co. (NYSE:JPM) shot up 1% during mid-day trading on Monday . The stock traded as high as $301.26 and last traded at $300.9070. 7,507,488 shares were traded during mid-day trading, a decline of 27% from the average session volume of 10,214,358 shares. The stock had previously closed at $297.81.

Trending Headlines about JPMorgan Chase & Co.

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

Wall Street Analyst Weigh In

Several brokerages have issued reports on JPM. Royal Bank Of Canada reissued a “buy” rating on shares of JPMorgan Chase & Co. in a research note on Monday, May 4th. Truist Financial raised their price objective on shares of JPMorgan Chase & Co. from $323.00 to $332.00 and gave the stock a “hold” rating in a research note on Wednesday, April 15th. DZ Bank reissued a “neutral” rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, April 15th. UBS Group decreased their price objective on shares of JPMorgan Chase & Co. from $380.00 to $375.00 in a research note on Wednesday, May 6th. Finally, Zacks Research downgraded shares of JPMorgan Chase & Co. from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 8th. Fifteen equities research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company. According to data from MarketBeat, JPMorgan Chase & Co. currently has an average rating of “Moderate Buy” and a consensus price target of $338.12.

Read Our Latest Report on JPM

JPMorgan Chase & Co. Stock Up 1.0%

The company’s 50 day moving average price is $299.67 and its two-hundred day moving average price is $307.35. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 1.30. The stock has a market cap of $806.28 billion, a P/E ratio of 14.41, a P/E/G ratio of 1.45 and a beta of 1.03.

JPMorgan Chase & Co. (NYSE:JPMGet Free Report) last posted its quarterly earnings results on Tuesday, April 14th. The financial services provider reported $5.94 earnings per share for the quarter, beating the consensus estimate of $5.50 by $0.44. JPMorgan Chase & Co. had a net margin of 20.66% and a return on equity of 17.54%. The firm had revenue of $50.54 billion during the quarter, compared to the consensus estimate of $48.30 billion. During the same quarter in the previous year, the firm posted $5.07 earnings per share. The company’s revenue was up 10.0% on a year-over-year basis. As a group, research analysts expect that JPMorgan Chase & Co. will post 22.43 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 30th. Stockholders of record on Monday, April 6th were paid a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend was Monday, April 6th. JPMorgan Chase & Co.’s payout ratio is currently 28.74%.

Insider Activity

In other news, insider Robin Leopold sold 433 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $295.06, for a total transaction of $127,760.98. Following the completion of the sale, the insider owned 64,920 shares of the company’s stock, valued at approximately $19,155,295.20. The trade was a 0.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Stacey Friedman sold 3,404 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $306.40, for a total transaction of $1,042,985.60. Following the sale, the general counsel directly owned 61,949 shares of the company’s stock, valued at $18,981,173.60. This represents a 5.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 79,849 shares of company stock valued at $24,522,956. Insiders own 0.41% of the company’s stock.

Hedge Funds Weigh In On JPMorgan Chase & Co.

Large investors have recently bought and sold shares of the business. Howard Capital Management Inc. grew its holdings in JPMorgan Chase & Co. by 18.2% in the fourth quarter. Howard Capital Management Inc. now owns 25,784 shares of the financial services provider’s stock worth $8,308,000 after purchasing an additional 3,976 shares during the last quarter. Andra AP fonden grew its holdings in JPMorgan Chase & Co. by 3.2% in the third quarter. Andra AP fonden now owns 107,700 shares of the financial services provider’s stock worth $33,972,000 after purchasing an additional 3,300 shares during the last quarter. Newbridge Financial Services Group Inc. grew its holdings in JPMorgan Chase & Co. by 51.7% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 8,883 shares of the financial services provider’s stock worth $2,862,000 after purchasing an additional 3,027 shares during the last quarter. Banco Santander S.A. grew its holdings in JPMorgan Chase & Co. by 9.0% in the third quarter. Banco Santander S.A. now owns 452,612 shares of the financial services provider’s stock worth $142,767,000 after purchasing an additional 37,550 shares during the last quarter. Finally, Brighton Jones LLC grew its holdings in JPMorgan Chase & Co. by 11.0% in the fourth quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider’s stock worth $11,682,000 after purchasing an additional 4,841 shares during the last quarter. Institutional investors own 71.55% of the company’s stock.

About JPMorgan Chase & Co.

(Get Free Report)

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.

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