Royal Bank of Canada Reiterates $160.00 Price Target for JPMorgan Chase & Co. (NYSE:JPM)

Royal Bank of Canada set a $160.00 price objective on JPMorgan Chase & Co. (NYSE:JPM) in a report released on Wednesday morning, Borsen Zeitung reports.

JPM has been the subject of several other reports. Jefferies Financial Group lifted their price target on JPMorgan Chase & Co. from $177.00 to $198.00 and gave the company a buy rating in a research report on Monday. Zacks Investment Research raised shares of JPMorgan Chase & Co. from a hold rating to a buy rating and set a $175.00 target price for the company in a report on Tuesday, September 28th. BMO Capital Markets boosted their target price on shares of JPMorgan Chase & Co. from $136.00 to $141.00 and gave the company a market perform rating in a research note on Wednesday, July 14th. The Goldman Sachs Group set a $182.00 price target on shares of JPMorgan Chase & Co. and gave the company a buy rating in a research report on Friday, June 25th. Finally, Morgan Stanley upped their price objective on shares of JPMorgan Chase & Co. from $150.00 to $166.00 and gave the stock an underweight rating in a research report on Thursday, July 29th. One research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of Buy and an average target price of $169.35.

NYSE:JPM opened at $161.00 on Wednesday. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.85 and a quick ratio of 0.85. The company’s fifty day moving average price is $160.59 and its 200-day moving average price is $157.52. JPMorgan Chase & Co. has a 1-year low of $95.24 and a 1-year high of $171.51. The firm has a market capitalization of $481.09 billion, a P/E ratio of 10.74, a PEG ratio of 2.24 and a beta of 1.20.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Wednesday, October 13th. The financial services provider reported $3.74 earnings per share for the quarter, topping the consensus estimate of $3.00 by $0.74. The company had revenue of $29.60 billion for the quarter, compared to the consensus estimate of $29.63 billion. JPMorgan Chase & Co. had a return on equity of 19.26% and a net margin of 37.71%. The firm’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same period last year, the firm earned $2.92 EPS. Equities analysts anticipate that JPMorgan Chase & Co. will post 14.05 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Sunday, October 31st. Stockholders of record on Wednesday, October 6th will be paid a $1.00 dividend. The ex-dividend date of this dividend is Tuesday, October 5th. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $0.90. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.48%. JPMorgan Chase & Co.’s payout ratio is currently 45.05%.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Hollencrest Capital Management grew its holdings in shares of JPMorgan Chase & Co. by 18.6% during the third quarter. Hollencrest Capital Management now owns 19,307 shares of the financial services provider’s stock worth $3,161,000 after buying an additional 3,033 shares in the last quarter. Nadler Financial Group Inc. grew its stake in JPMorgan Chase & Co. by 1.6% during the 3rd quarter. Nadler Financial Group Inc. now owns 6,158 shares of the financial services provider’s stock valued at $1,008,000 after acquiring an additional 98 shares in the last quarter. Corrado Advisors LLC raised its holdings in JPMorgan Chase & Co. by 1.1% in the 3rd quarter. Corrado Advisors LLC now owns 14,033 shares of the financial services provider’s stock valued at $2,297,000 after acquiring an additional 149 shares during the last quarter. Financial Planning & Information Services Inc. lifted its stake in JPMorgan Chase & Co. by 1.2% in the 3rd quarter. Financial Planning & Information Services Inc. now owns 17,894 shares of the financial services provider’s stock worth $2,929,000 after purchasing an additional 213 shares in the last quarter. Finally, Asset Management Corp IL ADV boosted its holdings in shares of JPMorgan Chase & Co. by 2.5% during the 3rd quarter. Asset Management Corp IL ADV now owns 5,834 shares of the financial services provider’s stock worth $955,000 after purchasing an additional 141 shares during the last quarter. 69.67% of the stock is owned by hedge funds and other institutional investors.

About JPMorgan Chase & Co.

JPMorgan Chase & Co is a financial holding company. It provides financial and investment banking services. The firm offers a range of investment banking products and services in all capital markets, including advising on corporate strategy and structure, capital raising in equity and debt markets, risk management, market making in cash securities and derivative instruments, and brokerage and research.

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