JPMorgan Chase & Co. (NYSE:JPM) Trading 1.2% Higher – Time to Buy?

JPMorgan Chase & Co. (NYSE:JPM) traded up 1.2% on Friday . The company traded as high as $307.45 and last traded at $306.4920. 5,952,246 shares changed hands during trading, a decline of 41% from the average session volume of 10,116,409 shares. The stock had previously closed at $303.00.

Key Headlines Impacting JPMorgan Chase & Co.

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

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Jefferies Financial Group restated a “neutral” rating on shares of JPMorgan Chase & Co. in a research note on Monday, May 4th. Daiwa Securities Group lowered their price objective on JPMorgan Chase & Co. from $340.00 to $328.00 and set an “outperform” rating for the company in a research note on Tuesday, April 7th. Robert W. Baird set a $295.00 target price on JPMorgan Chase & Co. in a report on Wednesday, April 15th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of JPMorgan Chase & Co. in a report on Tuesday, February 24th. Finally, Argus increased their target price on JPMorgan Chase & Co. from $340.00 to $355.00 and gave the stock a “buy” rating in a report on Wednesday, April 15th. Fifteen analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company. According to data from MarketBeat, JPMorgan Chase & Co. currently has a consensus rating of “Moderate Buy” and a consensus price target of $339.08.

Get Our Latest Analysis on JPMorgan Chase & Co.

JPMorgan Chase & Co. Trading Up 1.2%

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 business has a fifty day simple moving average of $300.85 and a 200 day simple moving average of $307.13. The company has a market cap of $821.25 billion, a P/E ratio of 14.68, a P/E/G ratio of 1.49 and a beta of 1.03.

JPMorgan Chase & Co. (NYSE:JPMGet Free Report) last released its earnings results on Tuesday, April 14th. The financial services provider reported $5.94 EPS for the quarter, topping analysts’ consensus estimates of $5.50 by $0.44. JPMorgan Chase & Co. had a return on equity of 17.54% and a net margin of 20.66%.The company had revenue of $50.54 billion for the quarter, compared to the consensus estimate of $48.30 billion. During the same quarter last year, the business posted $5.07 EPS. JPMorgan Chase & Co.’s quarterly revenue was up 10.0% compared to the same quarter last year. Analysts anticipate that JPMorgan Chase & Co. will post 22.43 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Monday, July 6th will be issued a $1.50 dividend. The ex-dividend date of this dividend is Monday, July 6th. This represents a $6.00 annualized dividend and a dividend yield of 2.0%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 28.74%.

Insider Buying and Selling

In related news, General Counsel Stacey Friedman sold 5,468 shares of the firm’s 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 sale, the general counsel owned 46,428 shares of the company’s stock, valued at approximately $13,940,935.56. This trade represents a 10.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Robin Leopold sold 433 shares of the firm’s stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $295.06, for a total value of $127,760.98. Following the completion of the sale, the insider directly owned 64,920 shares in the company, valued at approximately $19,155,295.20. This trade represents a 0.66% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 28,589 shares of company stock worth $8,747,496. Company insiders own 0.41% of the company’s stock.

Institutional Trading of JPMorgan Chase & Co.

Several hedge funds have recently made changes to their positions in the stock. Summitry LLC lifted its holdings in shares of JPMorgan Chase & Co. by 1,897.8% in the 1st quarter. Summitry LLC now owns 84,865 shares of the financial services provider’s stock worth $24,964,000 after purchasing an additional 80,617 shares during the last quarter. WNY Asset Management LLC bought a new stake in JPMorgan Chase & Co. during the 1st quarter valued at $1,344,000. Coastline Complete Wealth LLC bought a new stake in JPMorgan Chase & Co. during the 1st quarter valued at $259,000. Wellington Grp LLC raised its stake in JPMorgan Chase & Co. by 37.6% during the 1st quarter. Wellington Grp LLC now owns 3,788 shares of the financial services provider’s stock valued at $1,114,000 after acquiring an additional 1,035 shares in the last quarter. Finally, Montchanin Asset Management LLC bought a new stake in JPMorgan Chase & Co. during the 1st quarter valued at $6,750,000. 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.

Recommended Stories

Receive News & Ratings for JPMorgan Chase & Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for JPMorgan Chase & Co. and related companies with MarketBeat.com's FREE daily email newsletter.