JPMorgan Chase & Co. (JPM) Sets New 12-Month High on Analyst Upgrade

JPMorgan Chase & Co. (NYSE:JPM) shares reached a new 52-week high on Wednesday after Morgan Stanley raised their price target on the stock from $133.00 to $136.00. Morgan Stanley currently has an overweight rating on the stock. JPMorgan Chase & Co. traded as high as $117.37 and last traded at $116.93, with a volume of 8951459 shares traded. The stock had previously closed at $114.71.

JPM has been the topic of a number of other reports. Vetr downgraded shares of JPMorgan Chase & Co. from a “sell” rating to a “strong sell” rating and set a $93.51 price objective on the stock. in a research report on Wednesday, January 10th. Credit Suisse Group raised shares of JPMorgan Chase & Co. to a “buy” rating and set a $120.00 price objective on the stock in a research report on Friday, January 5th. Vining Sparks reaffirmed a “buy” rating and set a $120.00 price objective on shares of JPMorgan Chase & Co. in a research report on Friday, January 12th. Zacks Investment Research raised shares of JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and set a $126.00 price objective on the stock in a research report on Thursday, January 18th. Finally, ValuEngine raised shares of JPMorgan Chase & Co. from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and sixteen have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $108.83.

In other news, Director James S. Crown acquired 7,280 shares of JPMorgan Chase & Co. stock in a transaction dated Thursday, January 18th. The stock was acquired at an average cost of $113.37 per share, for a total transaction of $825,333.60. Following the completion of the purchase, the director now owns 305,875 shares of the company’s stock, valued at $34,677,048.75. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Peter Scher sold 26,532 shares of the business’s stock in a transaction on Friday, January 19th. The stock was sold at an average price of $113.42, for a total transaction of $3,009,259.44. The disclosure for this sale can be found here. Insiders sold 152,047 shares of company stock valued at $17,098,115 over the last quarter. Corporate insiders own 0.88% of the company’s stock.

Several institutional investors have recently modified their holdings of JPM. Xact Kapitalforvaltning AB raised its stake in JPMorgan Chase & Co. by 6.2% during the 4th quarter. Xact Kapitalforvaltning AB now owns 657,141 shares of the financial services provider’s stock valued at $70,275,000 after purchasing an additional 38,183 shares during the last quarter. CNB Bank acquired a new position in JPMorgan Chase & Co. during the 4th quarter valued at $2,041,000. Dixon Hubard Feinour & Brown Inc. VA raised its stake in JPMorgan Chase & Co. by 17.9% during the 4th quarter. Dixon Hubard Feinour & Brown Inc. VA now owns 8,193 shares of the financial services provider’s stock valued at $876,000 after purchasing an additional 1,244 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in JPMorgan Chase & Co. by 3.4% during the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,754,945 shares of the financial services provider’s stock valued at $187,674,000 after purchasing an additional 57,310 shares during the last quarter. Finally, Pin Oak Investment Advisors Inc. acquired a new position in JPMorgan Chase & Co. during the 4th quarter valued at $322,000. Institutional investors and hedge funds own 73.02% of the company’s stock.

The company has a market cap of $403,360.00, a P/E ratio of 18.36, a P/E/G ratio of 1.96 and a beta of 1.22. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.03 and a current ratio of 1.01.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Friday, January 12th. The financial services provider reported $1.76 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.69 by $0.07. The firm had revenue of $24.15 billion for the quarter, compared to analyst estimates of $24.87 billion. JPMorgan Chase & Co. had a net margin of 21.46% and a return on equity of 11.63%. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.71 EPS. research analysts predict that JPMorgan Chase & Co. will post 8.78 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 31st. Shareholders of record on Friday, January 5th were issued a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 1.92%. The ex-dividend date was Thursday, January 4th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 35.11%.

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About JPMorgan Chase & Co.

JPMorgan Chase & Co is a financial holding company. The Company is engaged in investment banking, financial services. It operates in four segments, as well as a Corporate segment. Its segments are Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking and Asset Management. The Consumer & Community Banking segment offers services to consumers and businesses through bank branches, automatic teller machines (ATMs), online, mobile and telephone banking.

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