JPMorgan Chase & Co. (NYSE:JPM) Trading 2% Higher Following Strong Earnings

JPMorgan Chase & Co. (NYSE:JPM) shot up 2% during trading on Friday after the company announced better than expected quarterly earnings. The stock traded as high as $235.99 and last traded at $231.61. 6,751,248 shares changed hands during mid-day trading, a decline of 30% from the average session volume of 9,682,092 shares. The stock had previously closed at $227.11.

The financial services provider reported $5.07 earnings per share for the quarter, beating the consensus estimate of $4.63 by $0.44. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The business had revenue of $45.30 billion for the quarter, compared to analysts' expectations of $43.62 billion. During the same quarter in the previous year, the business posted $4.44 earnings per share. The firm's revenue for the quarter was up 8.0% compared to the same quarter last year.

JPMorgan Chase & Co. Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Friday, April 4th will be issued a dividend of $1.40 per share. The ex-dividend date is Friday, April 4th. This is an increase from JPMorgan Chase & Co.'s previous quarterly dividend of $1.25. This represents a $5.60 annualized dividend and a dividend yield of 2.37%. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is presently 28.37%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on JPM. Keefe, Bruyette & Woods raised their price objective on JPMorgan Chase & Co. from $257.00 to $264.00 and gave the stock a "market perform" rating in a research note on Thursday, January 16th. Wolfe Research upgraded shares of JPMorgan Chase & Co. from a "peer perform" rating to an "outperform" rating and set a $269.00 target price on the stock in a research note on Friday, January 3rd. Barclays increased their price target on JPMorgan Chase & Co. from $304.00 to $330.00 and gave the stock an "overweight" rating in a research note on Thursday, January 16th. UBS Group boosted their price objective on JPMorgan Chase & Co. from $276.00 to $287.00 and gave the company a "buy" rating in a research report on Thursday, January 16th. Finally, Evercore ISI cut their target price on JPMorgan Chase & Co. from $273.00 to $265.00 and set an "outperform" rating for the company in a research report on Tuesday, April 1st. Ten analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $254.83.

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Insider Transactions at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 3,303 shares of the stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $253.94, for a total transaction of $838,763.82. Following the completion of the sale, the general counsel now directly owns 47,620 shares of the company's stock, valued at approximately $12,092,622.80. This trade represents a 6.49 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Robin Leopold sold 1,250 shares of the business's stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $270.09, for a total transaction of $337,612.50. Following the transaction, the insider now owns 50,377 shares in the company, valued at approximately $13,606,323.93. This trade represents a 2.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 76,848 shares of company stock worth $19,987,908. 0.79% of the stock is currently owned by insiders.

Institutional Investors Weigh In On JPMorgan Chase & Co.

Several institutional investors have recently modified their holdings of JPM. Redwood Park Advisors LLC acquired a new position in shares of JPMorgan Chase & Co. in the fourth quarter worth $29,000. Curat Global LLC acquired a new position in JPMorgan Chase & Co. in the 1st quarter valued at about $33,000. Sellwood Investment Partners LLC purchased a new position in JPMorgan Chase & Co. in the 4th quarter valued at about $34,000. Investment Counsel Co. of Nevada acquired a new stake in shares of JPMorgan Chase & Co. during the 4th quarter worth about $37,000. Finally, Midwest Capital Advisors LLC acquired a new stake in shares of JPMorgan Chase & Co. during the 4th quarter worth about $43,000. Hedge funds and other institutional investors own 71.55% of the company's stock.

JPMorgan Chase & Co. Trading Up 4.0 %

The business's fifty day moving average price is $248.89 and its 200 day moving average price is $242.03. The company has a quick ratio of 0.89, a current ratio of 0.88 and a debt-to-equity ratio of 1.24. The firm has a market capitalization of $660.60 billion, a PE ratio of 11.97, a P/E/G ratio of 2.83 and a beta of 1.01.

JPMorgan Chase & Co. Company Profile

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.