JPMorgan Chase & Co. (NYSE:JPM) Trading 1.6% Higher - Here's What Happened

JPMorgan Chase & Co. (NYSE:JPM)'s stock price traded up 1.6% during mid-day trading on Friday . The stock traded as high as $237.26 and last traded at $236.73. 4,626,944 shares changed hands during trading, a decline of 49% from the average session volume of 8,990,056 shares. The stock had previously closed at $232.96.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on JPM. Wells Fargo & Company boosted their price objective on shares of JPMorgan Chase & Co. from $240.00 to $270.00 and gave the company an "overweight" rating in a research report on Friday, November 15th. Keefe, Bruyette & Woods upped their price target on shares of JPMorgan Chase & Co. from $216.00 to $254.00 and gave the stock a "market perform" rating in a research note on Tuesday, December 3rd. Oppenheimer cut JPMorgan Chase & Co. from an "outperform" rating to a "market perform" rating in a research report on Wednesday, November 20th. Robert W. Baird lowered JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $200.00 target price on the stock. in a research report on Thursday, November 7th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $235.00 price target on shares of JPMorgan Chase & Co. in a report on Tuesday, September 3rd. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, JPMorgan Chase & Co. has an average rating of "Hold" and a consensus target price of $234.81.

JPMorgan Chase & Co. Stock Up 2.0 %

The firm has a market capitalization of $668.93 billion, a price-to-earnings ratio of 13.22, a price-to-earnings-growth ratio of 3.54 and a beta of 1.11. 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 business's 50 day moving average is $235.96 and its 200-day moving average is $217.63.

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 (EPS) for the quarter, beating analysts' consensus estimates of $4.02 by $0.35. The company 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 business's quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the prior year, the company earned $4.33 earnings per share. Equities analysts anticipate that JPMorgan Chase & Co. will post 17.62 EPS for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, January 6th will be issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date is Monday, January 6th. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is currently 27.82%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Geode Capital Management LLC raised its stake in JPMorgan Chase & Co. by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 58,344,186 shares of the financial services provider's stock valued at $12,258,346,000 after purchasing an additional 505,830 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of JPMorgan Chase & Co. by 4.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 22,696,963 shares of the financial services provider's stock worth $4,590,412,000 after purchasing an additional 1,040,594 shares during the period. Fisher Asset Management LLC raised its position in shares of JPMorgan Chase & Co. by 31.7% during the third quarter. Fisher Asset Management LLC now owns 16,784,272 shares of the financial services provider's stock valued at $3,539,132,000 after buying an additional 4,043,841 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of JPMorgan Chase & Co. by 2.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 15,084,919 shares of the financial services provider's stock valued at $3,180,806,000 after buying an additional 302,592 shares during the period. Finally, Franklin Resources Inc. grew its position in JPMorgan Chase & Co. by 7.2% during the third quarter. Franklin Resources Inc. now owns 15,073,193 shares of the financial services provider's stock worth $3,338,955,000 after buying an additional 1,016,289 shares in the last quarter. 71.55% of the stock is currently owned by institutional investors and hedge funds.

About JPMorgan Chase & Co.

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.