JPMorgan Chase & Co. (NYSE:JPM) Hits New 12-Month High – Here’s Why

JPMorgan Chase & Co. (NYSE:JPM) shares hit a new 52-week high during trading on Monday . The company traded as high as $318.01 and last traded at $315.89, with a volume of 306332 shares trading hands. The stock had previously closed at $316.06.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on JPM. Wells Fargo & Company upped their price objective on shares of JPMorgan Chase & Co. from $325.00 to $345.00 and gave the company an “overweight” rating in a research report on Tuesday, September 16th. Robert W. Baird lowered shares of JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $235.00 price objective for the company. in a research report on Friday, June 27th. Truist Financial upped their price objective on shares of JPMorgan Chase & Co. from $290.00 to $319.00 and gave the company a “hold” rating in a research report on Tuesday, September 23rd. Hsbc Global Res lowered shares of JPMorgan Chase & Co. from a “hold” rating to a “moderate sell” rating in a research report on Tuesday, July 8th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of JPMorgan Chase & Co. from $327.00 to $330.00 and gave the company an “outperform” rating in a research report on Wednesday, July 16th. Thirteen analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $299.28.

JPMorgan Chase & Co. Price Performance

The company has a debt-to-equity ratio of 1.25, a current ratio of 0.88 and a quick ratio of 0.88. The stock has a market capitalization of $865.27 billion, a P/E ratio of 16.15, a PEG ratio of 2.08 and a beta of 1.13. The company’s 50 day simple moving average is $298.96 and its two-hundred day simple moving average is $272.32.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share for the quarter, topping the consensus estimate of $4.48 by $0.48. The firm had revenue of $44.91 billion for the quarter, compared to analysts’ expectations of $43.76 billion. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The company’s quarterly revenue was down 10.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $6.12 earnings per share. As a group, equities analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, October 6th will be given a dividend of $1.50 per share. The ex-dividend date is Monday, October 6th. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.9%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 28.73%.

Insider Activity

In other news, Director Linda Bammann sold 9,500 shares of the company’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $297.94, for a total transaction of $2,830,430.00. Following the transaction, the director directly owned 82,207 shares in the company, valued at approximately $24,492,753.58. This represents a 10.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.47% of the company’s stock.

Hedge Funds Weigh In On JPMorgan Chase & Co.

A number of large investors have recently modified their holdings of JPM. JFS Wealth Advisors LLC raised its stake in JPMorgan Chase & Co. by 0.4% in the 2nd quarter. JFS Wealth Advisors LLC now owns 7,897 shares of the financial services provider’s stock worth $2,290,000 after purchasing an additional 35 shares in the last quarter. Cottonwood Capital Advisors LLC increased its holdings in JPMorgan Chase & Co. by 0.9% in the 2nd quarter. Cottonwood Capital Advisors LLC now owns 3,837 shares of the financial services provider’s stock valued at $1,112,000 after buying an additional 35 shares during the period. Coign Capital Advisors LLC increased its holdings in JPMorgan Chase & Co. by 1.2% in the 2nd quarter. Coign Capital Advisors LLC now owns 2,854 shares of the financial services provider’s stock valued at $827,000 after buying an additional 35 shares during the period. Rialto Wealth Management LLC increased its holdings in JPMorgan Chase & Co. by 3.9% in the 2nd quarter. Rialto Wealth Management LLC now owns 929 shares of the financial services provider’s stock valued at $269,000 after buying an additional 35 shares during the period. Finally, Breed s Hill Capital LLC increased its holdings in JPMorgan Chase & Co. by 0.8% in the 2nd quarter. Breed s Hill Capital LLC now owns 4,642 shares of the financial services provider’s stock valued at $1,346,000 after buying an additional 35 shares during the period. 71.55% of the stock is currently owned by institutional investors and hedge funds.

About JPMorgan Chase & Co.

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.