JPMorgan Chase & Co. (NYSE:JPM) Stock Price Up 1.1% on Analyst Upgrade

JPMorgan Chase & Co. (NYSE:JPM) shares were up 1.1% on Wednesday after Wells Fargo & Company raised their price target on the stock from $360.00 to $375.00. Wells Fargo & Company currently has an overweight rating on the stock. JPMorgan Chase & Co. traded as high as $351.24 and last traded at $346.7680. Approximately 10,728,179 shares changed hands during trading, an increase of 5% from the average daily volume of 10,171,210 shares. The stock had previously closed at $342.89.

Several other research firms have also commented on JPM. The Goldman Sachs Group reaffirmed a “buy” rating and set a $418.00 target price on shares of JPMorgan Chase & Co. in a report on Tuesday. Autonomous Res cut their price target on JPMorgan Chase & Co. from $360.00 to $324.00 and set a “neutral” rating on the stock in a report on Monday, April 6th. Bank of America boosted their price objective on JPMorgan Chase & Co. from $362.00 to $408.00 and gave the company a “buy” rating in a research report on Tuesday, July 7th. DZ Bank reaffirmed a “neutral” rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, April 15th. 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 research report on Wednesday, April 15th. Fifteen equities research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $354.42.

Check Out Our Latest Research Report on JPM

Insider Buying and Selling

In other JPMorgan Chase & Co. news, CFO Jeremy Barnum sold 3,022 shares of JPMorgan Chase & Co. stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $309.41, for a total transaction of $935,037.02. Following the sale, the chief financial officer owned 32,438 shares of the company’s stock, valued at $10,036,641.58. The trade was a 8.52% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Stacey Friedman sold 5,468 shares of the business’s stock in a transaction 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 owned 46,428 shares of the company’s stock, valued at $13,940,935.56. This trade represents a 10.54% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 18,876 shares of company stock valued at $5,907,051 in the last three months. 0.41% of the stock is currently owned by corporate insiders.

JPMorgan Chase & Co. News Roundup

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

Institutional Investors Weigh In On JPMorgan Chase & Co.

Several institutional investors have recently bought and sold shares of JPM. Norges Bank acquired a new stake in JPMorgan Chase & Co. in the 4th quarter valued at about $11,396,496,000. Bank of America Corp DE grew its stake 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 last quarter. Cardano Risk Management B.V. grew its stake 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 last quarter. Danske Bank A S bought a new stake in shares of JPMorgan Chase & Co. in the 3rd quarter worth approximately $696,885,000. Finally, American Assets Investment Management LLC raised its holdings in shares of JPMorgan Chase & Co. by 1,172.2% in the 4th quarter. American Assets Investment Management LLC now owns 2,259,400 shares of the financial services provider’s stock worth $728,024,000 after purchasing an additional 2,081,800 shares in the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

JPMorgan Chase & Co. Trading Up 1.1%

The firm has a market capitalization of $929.17 billion, a price-to-earnings ratio of 16.61, a price-to-earnings-growth ratio of 1.53 and a beta of 0.99. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 1.30. The firm’s 50 day moving average is $316.95 and its 200 day moving average is $309.86.

JPMorgan Chase & Co. (NYSE:JPMGet Free Report) last posted its quarterly earnings results on Tuesday, April 14th. The financial services provider reported $5.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.50 by $0.44. JPMorgan Chase & Co. had a net margin of 20.66% and a return on equity of 17.54%. The firm had revenue of $50.54 billion for the quarter, compared to analyst estimates of $48.30 billion. During the same quarter in the previous year, the business posted $5.07 earnings per share. The firm’s quarterly revenue was up 10.0% compared to the same quarter last year. Equities analysts forecast that JPMorgan Chase & Co. will post 22.82 earnings per share for the current year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently announced 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. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Monday, July 6th. JPMorgan Chase & Co.’s payout ratio is presently 28.74%.

JPMorgan Chase & Co. Company Profile

(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.

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