JPMorgan Chase & Co. (JPM) Releases Earnings Results, Beats Estimates By $0.07 EPS

JPMorgan Chase & Co. (NYSE:JPM) announced its quarterly earnings data on Friday. The financial services provider reported $1.76 EPS for the quarter, beating analysts’ consensus estimates of $1.69 by $0.07, Morningstar.com reports. The company had revenue of $24.15 billion during the quarter, compared to the consensus estimate of $24.87 billion. JPMorgan Chase & Co. had a net margin of 24.08% and a return on equity of 11.68%. The company’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.71 EPS.

Shares of JPMorgan Chase & Co. (NYSE JPM) opened at $112.67 on Friday. JPMorgan Chase & Co. has a 12 month low of $81.64 and a 12 month high of $112.85. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.37. The firm has a market cap of $390,934.03, a PE ratio of 17.88, a price-to-earnings-growth ratio of 2.05 and a beta of 1.22.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 31st. Shareholders of record on Friday, January 5th will be paid a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 1.99%. The ex-dividend date is Thursday, January 4th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 35.56%.

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 2,099 shares of JPMorgan Chase & Co. stock in a transaction dated Thursday, October 26th. The shares were sold at an average price of $101.96, for a total value of $214,014.04. Following the completion of the sale, the general counsel now owns 15,279 shares in the company, valued at approximately $1,557,846.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.88% of the stock is owned by insiders.

A number of institutional investors have recently modified their holdings of JPM. Vanguard Group Inc. raised its position in shares of JPMorgan Chase & Co. by 1.5% in the 2nd quarter. Vanguard Group Inc. now owns 249,887,622 shares of the financial services provider’s stock valued at $22,839,729,000 after buying an additional 3,717,683 shares in the last quarter. Northern Trust Corp raised its position in shares of JPMorgan Chase & Co. by 1.8% in the 2nd quarter. Northern Trust Corp now owns 48,965,734 shares of the financial services provider’s stock valued at $4,475,468,000 after buying an additional 847,463 shares in the last quarter. Capital Research Global Investors raised its position in shares of JPMorgan Chase & Co. by 2.5% in the 2nd quarter. Capital Research Global Investors now owns 31,714,763 shares of the financial services provider’s stock valued at $2,898,729,000 after buying an additional 765,082 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of JPMorgan Chase & Co. by 0.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 28,683,523 shares of the financial services provider’s stock valued at $2,621,677,000 after buying an additional 176,306 shares in the last quarter. Finally, Legal & General Group Plc raised its position in shares of JPMorgan Chase & Co. by 1.8% in the 3rd quarter. Legal & General Group Plc now owns 18,083,319 shares of the financial services provider’s stock valued at $1,727,118,000 after buying an additional 313,968 shares in the last quarter. Institutional investors and hedge funds own 73.76% of the company’s stock.

Several analysts recently commented on JPM shares. Robert W. Baird reaffirmed a “hold” rating and set a $88.00 target price on shares of JPMorgan Chase & Co. in a report on Thursday, September 21st. Deutsche Bank downgraded shares of JPMorgan Chase & Co. from a “buy” rating to a “hold” rating and lifted their target price for the stock from $90.00 to $96.00 in a report on Tuesday, September 26th. Citigroup lifted their target price on shares of JPMorgan Chase & Co. from $90.00 to $96.00 and gave the stock a “neutral” rating in a report on Friday, October 6th. Credit Suisse Group reaffirmed a “buy” rating and set a $110.00 target price (up previously from $103.00) on shares of JPMorgan Chase & Co. in a report on Monday, October 9th. They noted that the move was a valuation call. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating on shares of JPMorgan Chase & Co. in a report on Wednesday, October 11th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and fifteen have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $102.52.

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About JPMorgan 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.

Earnings History for JPMorgan Chase & Co. (NYSE:JPM)

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