Citigroup Issues Positive Forecast for JPMorgan Chase & Co. (NYSE:JPM) Stock Price

JPMorgan Chase & Co. (NYSE:JPM) had its price objective raised by Citigroup from $215.00 to $250.00 in a research report released on Tuesday,Benzinga reports. The brokerage currently has a neutral rating on the financial services provider's stock.

Several other equities research analysts have also recently commented on JPM. Barclays lifted their target price on JPMorgan Chase & Co. from $217.00 to $257.00 and gave the company an "overweight" rating in a research note on Monday, October 14th. Wells Fargo & Company lifted their target price on JPMorgan Chase & Co. from $240.00 to $270.00 and gave the company an "overweight" rating in a research note on Friday. Daiwa Capital Markets decreased their price objective on JPMorgan Chase & Co. from $240.00 to $235.00 and set an "overweight" rating for the company in a research note on Thursday, October 10th. Evercore ISI lifted their price objective on JPMorgan Chase & Co. from $217.00 to $230.00 and gave the stock an "outperform" rating in a research note on Monday, October 14th. Finally, Oppenheimer lifted their price objective on JPMorgan Chase & Co. from $232.00 to $241.00 and gave the stock an "outperform" rating in a research note on Tuesday, November 5th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat, JPMorgan Chase & Co. currently has an average rating of "Hold" and a consensus target price of $229.31.

JPMorgan Chase & Co. Stock Performance

Shares of JPM stock traded down $2.00 during mid-day trading on Tuesday, reaching $243.03. The stock had a trading volume of 6,791,404 shares, compared to its average volume of 9,100,539. The firm's 50 day simple moving average is $220.81 and its 200 day simple moving average is $210.92. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.27. JPMorgan Chase & Co. has a one year low of $151.92 and a one year high of $248.00. The firm has a market cap of $684.21 billion, a PE ratio of 13.52, a P/E/G ratio of 3.56 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its quarterly earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share for the quarter, beating analysts' consensus estimates of $4.02 by $0.35. The firm had revenue of $43.32 billion during the quarter, compared to analysts' expectations of $41.43 billion. JPMorgan Chase & Co. had a return on equity of 16.71% and a net margin of 19.64%. The business's revenue was up 6.5% on a year-over-year basis. During the same period last year, the firm posted $4.33 EPS. On average, analysts forecast that JPMorgan Chase & Co. will post 17.62 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 4th were given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date of this dividend was Friday, October 4th. This is an increase from JPMorgan Chase & Co.'s previous quarterly dividend of $1.15. JPMorgan Chase & Co.'s payout ratio is 27.82%.

Hedge Funds Weigh In On JPMorgan Chase & Co.

A number of institutional investors have recently bought and sold shares of the business. Mizuho Securities Co. Ltd. bought a new stake in shares of JPMorgan Chase & Co. in the third quarter valued at approximately $25,000. Catalyst Capital Advisors LLC acquired a new stake in JPMorgan Chase & Co. in the third quarter valued at $27,000. Fairway Wealth LLC acquired a new stake in JPMorgan Chase & Co. in the second quarter valued at $32,000. Anfield Capital Management LLC acquired a new stake in JPMorgan Chase & Co. in the second quarter valued at $34,000. Finally, West Financial Advisors LLC acquired a new stake in JPMorgan Chase & Co. during the 3rd quarter worth about $37,000. Institutional investors and hedge funds own 71.55% of the company's stock.

JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit, investment and lending products, cash management, and payments and services; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.