JPMorgan Chase & Co. (NYSE:JPM) had its price target boosted by Bank of America from $408.00 to $420.00 in a report published on Thursday,Benzinga reports. The firm currently has a buy rating on the financial services provider’s stock.
Other equities research analysts have also recently issued research reports about the stock. Weiss Ratings raised shares of JPMorgan Chase & Co. from a “buy (b)” rating to a “buy (b+)” rating in a report on Monday, July 6th. Wells Fargo & Company increased their price objective on JPMorgan Chase & Co. from $360.00 to $375.00 and gave the company an “overweight” rating in a report on Wednesday. DZ Bank reissued a “neutral” rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, April 15th. Autonomous Res lowered their target price on JPMorgan Chase & Co. from $360.00 to $324.00 and set a “neutral” rating on the stock in a research note on Monday, April 6th. Finally, Evercore restated an “outperform” rating and issued a $360.00 target price on shares of JPMorgan Chase & Co. in a research note on Monday, July 6th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $354.92.
Read Our Latest Research Report on JPM
JPMorgan Chase & Co. Stock Down 0.5%
JPMorgan Chase & Co. Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Monday, July 6th will be paid a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Monday, July 6th. JPMorgan Chase & Co.’s dividend payout ratio is presently 25.71%.
Insider Buying and Selling
In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 5,468 shares of the business’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $300.27, for a total transaction of $1,641,876.36. Following the sale, the general counsel owned 46,428 shares of the company’s stock, valued at $13,940,935.56. The trade was a 10.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Jeremy Barnum sold 3,022 shares of the business’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $309.41, for a total transaction of $935,037.02. Following the sale, the chief financial officer directly owned 32,438 shares in the company, valued at $10,036,641.58. The trade was a 8.52% 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. In the last ninety days, insiders sold 18,876 shares of company stock valued at $5,907,051. Company insiders own 0.41% of the company’s stock.
Hedge Funds Weigh In On JPMorgan Chase & Co.
Several hedge funds have recently made changes to their positions in the stock. Timmons Wealth Management LLC purchased a new stake in shares of JPMorgan Chase & Co. in the fourth quarter worth about $27,000. MBM Wealth Consultants LLC purchased a new position in JPMorgan Chase & Co. during the first quarter valued at approximately $29,000. Caitong International Asset Management Co. Ltd purchased a new position in JPMorgan Chase & Co. during the fourth quarter valued at approximately $32,000. Osbon Capital Management LLC bought a new stake in JPMorgan Chase & Co. during the 4th quarter worth approximately $35,000. Finally, Turning Point Benefit Group Inc. bought a new stake in JPMorgan Chase & Co. during the 3rd quarter worth approximately $35,000. 71.55% of the stock is currently owned by hedge funds and other institutional investors.
JPMorgan Chase & Co. News Summary
Here are the key news stories impacting JPMorgan Chase & Co. this week:
- Positive Sentiment: JPMorgan’s blowout Q2 earnings are driving bullish sentiment, with the bank reporting record profits, 41% higher net income, strong trading and investment banking activity, and higher full-year net interest income guidance. JPMorgan Just Reported $21.2 Billion in Q2 Net Income — Up 41% — and CEO Jamie Dimon Said the Economy Is “Close to as Good as It Gets.”
- Positive Sentiment: Analysts have been raising expectations after the results, including multiple higher price targets and upgraded earnings forecasts, signaling confidence that JPMorgan can continue to outperform. JPMorgan Price Target Raised to $380 on Strong Q2 Results, Upgraded Outlook and Capital Strength
- Positive Sentiment: The stock is also benefiting from expectations that JPMorgan may raise its quarterly dividend by 10% after passing the Federal Reserve stress test, reinforcing the bank’s capital strength and shareholder-return story. JPM Stock Just Staged a Record Bull Run. 1 Analyst Thinks It Can Still Soar to $420.
- Neutral Sentiment: JPMorgan was added to several “Strong Buy” and momentum/income stock lists, which adds to positive sentiment but is less directly impactful than earnings or guidance. New Strong Buy Stocks for July 17th
- Neutral Sentiment: JPMorgan also drew attention for major financing activity and a $24 million Philadelphia shipbuilding investment, highlighting ongoing business expansion and capital deployment. JPMorgan Chase (JPM) Puts $24 Million Into Philadelphia Shipbuilding And Defense
- Negative Sentiment: Late-day sector weakness in financial stocks may be limiting JPMorgan’s upside even as company-specific fundamentals remain strong. Sector Update: Financial Stocks Decline Friday Afternoon
About JPMorgan Chase & Co.
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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