JPMorgan Chase & Co. (NYSE:JPM) Trading 9.7% Higher Following Analyst Upgrade

JPMorgan Chase & Co. (NYSE:JPM)'s share price rose 9.7% on Wednesday after Oppenheimer raised their price target on the stock from $232.00 to $241.00. Oppenheimer currently has an outperform rating on the stock. JPMorgan Chase & Co. traded as high as $243.40 and last traded at $243.06. Approximately 9,165,595 shares changed hands during trading, an increase of 2% from the average daily volume of 8,990,052 shares. The stock had previously closed at $221.49.

Other equities analysts have also issued reports about the stock. Piper Sandler lifted their price target on shares of JPMorgan Chase & Co. from $220.00 to $230.00 and gave the stock an "overweight" rating in a report on Monday, July 15th. Royal Bank of Canada lifted their price target on shares of JPMorgan Chase & Co. from $211.00 to $230.00 and gave the stock an "outperform" rating in a report on Monday, October 14th. Daiwa Capital Markets cut their price target on shares of JPMorgan Chase & Co. from $240.00 to $235.00 and set an "overweight" rating on the stock in a report on Thursday, October 10th. Citigroup lifted their price target on shares of JPMorgan Chase & Co. from $205.00 to $215.00 and gave the stock a "neutral" rating in a report on Monday, July 15th. Finally, Barclays lifted their price target on shares of JPMorgan Chase & Co. from $217.00 to $257.00 and gave the stock an "overweight" rating in a report on Monday, October 14th. Eight equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, JPMorgan Chase & Co. currently has a consensus rating of "Moderate Buy" and a consensus price target of $223.38.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Mizuho Securities Co. Ltd. acquired a new position in shares of JPMorgan Chase & Co. during the 3rd quarter worth about $25,000. Catalyst Capital Advisors LLC acquired a new position in shares of JPMorgan Chase & Co. during the 3rd quarter worth about $27,000. Retirement Group LLC raised its position in shares of JPMorgan Chase & Co. by 227.1% during the 1st quarter. Retirement Group LLC now owns 157 shares of the financial services provider's stock worth $31,000 after purchasing an additional 109 shares during the last quarter. Fairway Wealth LLC acquired a new position in shares of JPMorgan Chase & Co. during the 2nd quarter worth about $32,000. Finally, Anfield Capital Management LLC acquired a new position in shares of JPMorgan Chase & Co. during the 2nd quarter worth about $34,000. Institutional investors and hedge funds own 71.55% of the company's stock.

JPMorgan Chase & Co. Stock Performance

The firm's 50 day moving average is $216.71 and its 200-day moving average is $207.71. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.89 and a current ratio of 0.89. The company has a market cap of $695.56 billion, a PE ratio of 13.75, a PEG ratio of 3.25 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its quarterly earnings data on Friday, October 11th. The financial services provider reported $4.37 earnings per share for the quarter, topping 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 net margin of 19.64% and a return on equity of 16.71%. The firm's quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter last year, the company posted $4.33 EPS. On average, research analysts anticipate that JPMorgan Chase & Co. will post 17.52 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 4th were given a dividend of $1.25 per share. The ex-dividend date of this dividend was Friday, October 4th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.02%. This is a boost from JPMorgan Chase & Co.'s previous quarterly dividend of $1.15. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is presently 27.82%.

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.