J P Morgan Chase & Co (JPM) Price Target Raised to $103.00

J P Morgan Chase & Co (NYSE:JPM) had its target price increased by Credit Suisse Group from $102.00 to $103.00 in a report published on Friday, July 14th, MarketBeat Ratings reports. Credit Suisse Group currently has an outperform rating on the financial services provider’s stock.

JPM has been the topic of a number of other research reports. Rafferty Capital Markets reissued a buy rating and set a $97.00 price objective (up previously from $96.00) on shares of J P Morgan Chase & Co in a report on Tuesday, March 21st. Barclays PLC reissued an overweight rating and set a $100.00 price objective on shares of J P Morgan Chase & Co in a report on Monday, March 20th. Vetr raised shares of J P Morgan Chase & Co from a buy rating to a strong-buy rating and set a $97.82 price objective on the stock in a report on Tuesday, April 4th. Deutsche Bank AG reaffirmed a buy rating on shares of J P Morgan Chase & Co in a report on Monday, July 3rd. Finally, Keefe, Bruyette & Woods reaffirmed a market perform rating and issued a $47.00 price target on shares of J P Morgan Chase & Co in a report on Friday, April 14th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and twenty have issued a buy rating to the company’s stock. The company presently has an average rating of Hold and an average target price of $85.53.

J P Morgan Chase & Co (JPM) opened at 91.42 on Friday. J P Morgan Chase & Co has a 52 week low of $65.11 and a 52 week high of $95.22. The company has a 50-day moving average of $91.87 and a 200-day moving average of $88.50. The stock has a market capitalization of $321.66 billion, a price-to-earnings ratio of 13.49 and a beta of 1.19.

J P Morgan Chase & Co (NYSE:JPM) last released its quarterly earnings data on Friday, July 14th. The financial services provider reported $1.82 EPS for the quarter, topping analysts’ consensus estimates of $1.59 by $0.23. The firm had revenue of $25.50 billion for the quarter, compared to the consensus estimate of $24.38 billion. J P Morgan Chase & Co had a net margin of 24.13% and a return on equity of 11.53%. The firm’s revenue was up 4.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.55 earnings per share. Analysts anticipate that J P Morgan Chase & Co will post $6.81 earnings per share for the current year.

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The company also recently declared a quarterly dividend, which was paid on Monday, July 31st. Investors of record on Thursday, July 6th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date was Monday, July 3rd. J P Morgan Chase & Co’s payout ratio is 29.59%.

In related news, insider Nicole Giles sold 1,000 shares of the firm’s stock in a transaction on Tuesday, July 18th. The shares were sold at an average price of $91.29, for a total transaction of $91,290.00. Following the completion of the sale, the insider now directly owns 3,783 shares of the company’s stock, valued at approximately $345,350.07. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Marianne Lake sold 17,596 shares of the firm’s stock in a transaction on Monday, July 17th. The shares were sold at an average price of $91.58, for a total transaction of $1,611,441.68. The disclosure for this sale can be found here. 0.85% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of JPM. Vanguard Group Inc. increased its position in J P Morgan Chase & Co by 1.5% in the second quarter. Vanguard Group Inc. now owns 249,887,622 shares of the financial services provider’s stock worth $22,839,729,000 after buying an additional 3,717,683 shares during the period. State Street Corp increased its position in J P Morgan Chase & Co by 0.8% in the first quarter. State Street Corp now owns 170,534,760 shares of the financial services provider’s stock worth $14,979,775,000 after buying an additional 1,357,194 shares during the period. FMR LLC increased its position in J P Morgan Chase & Co by 19.4% in the fourth quarter. FMR LLC now owns 96,587,143 shares of the financial services provider’s stock worth $8,334,505,000 after buying an additional 15,715,835 shares during the period. Northern Trust Corp increased its position in J P Morgan Chase & Co by 1.8% in the second quarter. Northern Trust Corp now owns 48,965,734 shares of the financial services provider’s stock worth $4,475,468,000 after buying an additional 847,463 shares during the period. Finally, Norges Bank bought a new position in J P Morgan Chase & Co during the fourth quarter worth approximately $2,897,377,000. Hedge funds and other institutional investors own 74.06% of the company’s stock.

About J P Morgan Chase & Co

JPMorgan Chase & Co is a financial holding company. The Company is engaged in investment banking, financial services. It operates in four segments, as well as a Corporate segment. Its segments are Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking and Asset Management. The Consumer & Community Banking segment offers services to consumers and businesses through bank branches, automatic teller machines (ATMs), online, mobile and telephone banking.

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