JPMorgan Chase & Co. (NYSE:JPM) Issues Quarterly Earnings Results, Beats Expectations By $0.55 EPS

JPMorgan Chase & Co. (NYSE:JPM) announced its quarterly earnings results on Tuesday. The financial services provider reported $6.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.59 by $0.55, FiscalAI reports. The firm had revenue of $58.02 billion during the quarter, compared to the consensus estimate of $51.09 billion. JPMorgan Chase & Co. had a return on equity of 17.54% and a net margin of 20.66%.

JPMorgan Chase & Co. Trading Down 0.4%

NYSE JPM opened at $335.19 on Tuesday. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.86 and a current ratio of 0.86. The firm has a market cap of $898.14 billion, a PE ratio of 16.05, a P/E/G ratio of 1.53 and a beta of 0.99. JPMorgan Chase & Co. has a one year low of $279.10 and a one year high of $343.45. The firm’s fifty day moving average is $316.28 and its two-hundred day moving average is $309.76.

JPMorgan Chase & Co. Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Monday, July 6th will be given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Monday, July 6th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 28.74%.

Insider Transactions at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, CFO Jeremy Barnum sold 3,022 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The stock was 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 $10,036,641.58. This represents a 8.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Stacey Friedman sold 5,467 shares of the stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $330.73, for a total value of $1,808,100.91. Following the sale, the general counsel directly owned 40,961 shares of the company’s stock, valued at $13,547,031.53. The trade was a 11.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 33,623 shares of company stock worth $10,427,835. Company insiders own 0.41% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Schwallier Wealth Management LLC increased its stake in JPMorgan Chase & Co. by 4.4% in the 4th quarter. Schwallier Wealth Management LLC now owns 848 shares of the financial services provider’s stock valued at $259,000 after buying an additional 36 shares during the period. Strata Wealth Advisors LLC lifted its stake in shares of JPMorgan Chase & Co. by 2.3% in the 4th quarter. Strata Wealth Advisors LLC now owns 1,610 shares of the financial services provider’s stock worth $519,000 after acquiring an additional 36 shares during the period. Financial Life Planners lifted its stake in shares of JPMorgan Chase & Co. by 4.2% in the 3rd quarter. Financial Life Planners now owns 908 shares of the financial services provider’s stock worth $286,000 after acquiring an additional 37 shares during the period. Betterment LLC boosted its holdings in shares of JPMorgan Chase & Co. by 1.9% in the third quarter. Betterment LLC now owns 2,007 shares of the financial services provider’s stock valued at $633,000 after acquiring an additional 37 shares in the last quarter. Finally, Uniting Wealth Partners LLC boosted its holdings in shares of JPMorgan Chase & Co. by 0.7% in the fourth quarter. Uniting Wealth Partners LLC now owns 5,181 shares of the financial services provider’s stock valued at $1,669,000 after acquiring an additional 37 shares in the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on JPM. Wells Fargo & Company raised their price objective on shares of JPMorgan Chase & Co. from $350.00 to $360.00 and gave the stock an “overweight” rating in a report on Monday, July 6th. Autonomous Res reduced their price target on shares of JPMorgan Chase & Co. from $360.00 to $324.00 and set a “neutral” rating for the company in a research report on Monday, April 6th. Truist Financial upped their price objective on shares of JPMorgan Chase & Co. from $332.00 to $344.00 and gave the company a “hold” rating in a research note on Friday, June 26th. Zacks Research lowered JPMorgan Chase & Co. from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 8th. Finally, Bank of America lifted their target price on JPMorgan Chase & Co. from $362.00 to $408.00 and gave the stock a “buy” rating in a research report on Tuesday, July 7th. Fourteen equities research analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $345.33.

Read Our Latest Analysis on JPMorgan Chase & Co.

JPMorgan Chase & Co. News Summary

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JPMorgan Chase & Co. Company Profile

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

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