JPMorgan Chase & Co. (NYSE:JPM) Stock Price Up 1.4% Following Analyst Upgrade

Shares of JPMorgan Chase & Co. (NYSE:JPM) shot up 1.4% during mid-day trading on Friday after Wells Fargo & Company raised their price target on the stock from $240.00 to $270.00. Wells Fargo & Company currently has an overweight rating on the stock. JPMorgan Chase & Co. traded as high as $245.62 and last traded at $245.33. 2,817,263 shares changed hands during trading, a decline of 69% from the average session volume of 9,071,965 shares. The stock had previously closed at $241.87.

A number of other research analysts also recently weighed in on the stock. Royal Bank of Canada raised their target price on shares of JPMorgan Chase & Co. from $211.00 to $230.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Evercore ISI increased their price target on JPMorgan Chase & Co. from $217.00 to $230.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Baird R W cut JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 7th. Barclays raised their target price on shares of JPMorgan Chase & Co. from $217.00 to $257.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $235.00 price objective on shares of JPMorgan Chase & Co. in a research report on Tuesday, September 3rd. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $227.13.

Hedge Funds Weigh In On JPMorgan Chase & Co.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mizuho Securities Co. Ltd. bought a new stake in shares of JPMorgan Chase & Co. during the 3rd quarter worth approximately $25,000. Catalyst Capital Advisors LLC bought a new stake in JPMorgan Chase & Co. during the third quarter worth $27,000. Fairway Wealth LLC bought a new position in shares of JPMorgan Chase & Co. in the 2nd quarter valued at $32,000. Anfield Capital Management LLC acquired a new position in shares of JPMorgan Chase & Co. during the 2nd quarter worth $34,000. Finally, West Financial Advisors LLC bought a new stake in shares of JPMorgan Chase & Co. during the 3rd quarter worth $37,000. 71.55% of the stock is owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Stock Up 1.4 %

The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.27. The firm has a 50 day moving average of $218.84 and a two-hundred day moving average of $209.56. The firm has a market capitalization of $690.69 billion, a price-to-earnings ratio of 13.65, a price-to-earnings-growth ratio of 3.50 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM) last posted 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 company had revenue of $43.32 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period last year, the company posted $4.33 EPS. As a group, sell-side analysts anticipate that JPMorgan Chase & Co. will post 17.62 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 4th were given a $1.25 dividend. The ex-dividend date was Friday, October 4th. This represents a $5.00 dividend on an annualized basis and a yield of 2.04%. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 27.82%.

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.