JPMorgan Chase & Co. (NYSE:JPM) Reaches New 1-Year High – Time to Buy?

JPMorgan Chase & Co. (NYSE:JPM) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $360.45 and last traded at $358.7460, with a volume of 1378917 shares changing hands. The stock had previously closed at $352.64.

Trending Headlines about JPMorgan Chase & Co.

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

• Positive Sentiment: New active ETF expands asset-management offerings. J.P. Morgan Asset Management launched the JLVP ETF, which combines a value-oriented large-cap portfolio with a limited short position. The temporary 0.49% management fee could help attract assets and generate additional recurring fee revenue, though the product’s direct impact on JPMorgan’s earnings is likely modest. JPMorgan’s New JLVP ETF Can Bet Both for and Against Stocks
• Positive Sentiment: Dimon leads a cross-industry AI risk initiative. CEO Jamie Dimon is reportedly recruiting banks, technology companies, utilities and other corporations for a JPMorgan-backed alliance focused on AI cybersecurity and critical-infrastructure risks. The effort could strengthen JPMorgan’s leadership profile in technology and risk management, although it is not expected to have an immediate material earnings effect. JPMorgan CEO Dimon leads new cross-industry effort to tackle AI risks
• Positive Sentiment: JPMorgan goes live with Swift’s faster international-transfer service. The initiative with Bank of America is designed to improve cross-border payments for consumers and small businesses. It may support customer retention and future payments-related revenue while reinforcing JPMorgan’s global transaction-banking franchise. Swift Announces Step Forward in International Money Transfers
• Neutral Sentiment: Large housing commitment offers growth potential but carries execution risk. JPMorgan plans to deploy more than $750 billion through 2035 to support housing supply and homeownership. The initiative could expand lending and investment opportunities, but its long time horizon and potential credit, regulatory and capital-allocation risks limit its near-term stock impact. JPMorgan to pour $750 billion into housing in next decade
• Negative Sentiment: Higher-for-longer rate risk could pressure markets and credit demand. JPMorgan reportedly brought forward its forecast for a possible Federal Reserve rate hike, citing inflation concerns and the Fed chair’s guidance. Higher rates can support bank net-interest income initially, but could also weaken loan demand, increase funding costs and raise recession or credit-loss concerns. JPMorgan Says Fed Chair Kevin Warsh’s Press Conference Could Force a Rate Hike

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Wells Fargo & Company upped their price objective on shares of JPMorgan Chase & Co. from $360.00 to $375.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 15th. Zacks Research raised shares of JPMorgan Chase & Co. from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 16th. Royal Bank Of Canada lifted their price objective on shares of JPMorgan Chase & Co. from $330.00 to $370.00 and gave the stock an “outperform” rating in a report on Wednesday, July 15th. Keefe, Bruyette & Woods upped their target price on shares of JPMorgan Chase & Co. from $370.00 to $384.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 15th. Finally, Truist Financial increased their target price on JPMorgan Chase & Co. from $344.00 to $352.00 and gave the company a “hold” rating in a research note on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat.com, JPMorgan Chase & Co. currently has an average rating of “Moderate Buy” and an average target price of $359.33.

JPMorgan Chase & Co. Trading Up 0.6%

The stock has a market capitalization of $963.59 billion, a P/E ratio of 15.41, a price-to-earnings-growth ratio of 1.47 and a beta of 0.99. The company has a current ratio of 0.85, a quick ratio of 0.86 and a debt-to-equity ratio of 1.30. The stock’s fifty day moving average price is $331.96 and its two-hundred day moving average price is $312.78.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Tuesday, July 14th. The financial services provider reported $6.14 EPS for the quarter, beating the consensus estimate of $5.59 by $0.55. JPMorgan Chase & Co. had a net margin of 21.86% and a return on equity of 18.23%. The company had revenue of $58.02 billion for the quarter, compared to analyst estimates of $50.72 billion. During the same quarter last year, the firm earned $4.96 EPS. The firm’s quarterly revenue was up 27.7% compared to the same quarter last year. Equities research analysts forecast that JPMorgan Chase & Co. will post 24.27 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Monday, July 6th were issued a dividend of $1.50 per share. The ex-dividend date was Monday, July 6th. This represents a $6.00 annualized dividend and a yield of 1.7%. JPMorgan Chase & Co.’s dividend payout ratio is currently 25.71%.

Insider Transactions at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 5,468 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $300.27, for a total value of $1,641,876.36. Following the transaction, the general counsel directly owned 46,428 shares of the company’s stock, valued at $13,940,935.56. The trade was a 10.54% decrease in their position. The sale was disclosed in a document filed 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. 0.41% of the stock is currently owned by insiders.

Institutional Trading of JPMorgan Chase & Co.

Institutional investors have recently made changes to their positions in the stock. Norges Bank purchased a new position in JPMorgan Chase & Co. during the 4th quarter valued at $11,396,496,000. Bank of America Corp DE lifted its position in shares of JPMorgan Chase & Co. by 15.8% in the 1st quarter. Bank of America Corp DE now owns 65,660,460 shares of the financial services provider’s stock worth $19,314,681,000 after purchasing an additional 8,941,351 shares during the period. Cardano Risk Management B.V. lifted its position in shares of JPMorgan Chase & Co. by 889.3% in the 4th quarter. Cardano Risk Management B.V. now owns 8,673,530 shares of the financial services provider’s stock worth $2,794,785,000 after purchasing an additional 7,796,814 shares during the period. Ascentis Wealth Management LLC boosted its stake in shares of JPMorgan Chase & Co. by 32,672.0% during the 2nd quarter. Ascentis Wealth Management LLC now owns 4,647,071 shares of the financial services provider’s stock valued at $1,521,126,000 after purchasing an additional 4,632,891 shares in the last quarter. Finally, American Assets Investment Management LLC increased its position in shares of JPMorgan Chase & Co. by 1,172.2% during the fourth quarter. American Assets Investment Management LLC now owns 2,259,400 shares of the financial services provider’s stock valued at $728,024,000 after buying an additional 2,081,800 shares during the period. Hedge funds and other institutional investors own 71.55% of the company’s stock.

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.