JPMorgan Chase & Co. (NYSE:JPM) Raises Dividend to $1.25 Per Share

JPMorgan Chase & Co. (NYSE:JPM) declared a quarterly dividend on Tuesday, September 17th, Wall Street Journal reports. Shareholders of record on Friday, October 4th will be given a dividend of 1.25 per share by the financial services provider on Thursday, October 31st. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date of this dividend is Friday, October 4th. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15.

JPMorgan Chase & Co. has increased its dividend by an average of 4.0% annually over the last three years and has increased its dividend every year for the last 14 years. JPMorgan Chase & Co. has a dividend payout ratio of 29.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect JPMorgan Chase & Co. to earn $16.84 per share next year, which means the company should continue to be able to cover its $5.00 annual dividend with an expected future payout ratio of 29.7%.

JPMorgan Chase & Co. Trading Down 1.8 %

JPM opened at $207.04 on Wednesday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 1.24. JPMorgan Chase & Co. has a 52 week low of $135.19 and a 52 week high of $225.48. The stock has a market cap of $594.55 billion, a PE ratio of 11.55, a PEG ratio of 2.39 and a beta of 1.12. The business has a 50 day moving average of $211.42 and a 200-day moving average of $202.85.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data on Friday, July 12th. The financial services provider reported $6.12 EPS for the quarter, beating the consensus estimate of $4.19 by $1.93. The business had revenue of $50.80 billion during the quarter, compared to analyst estimates of $42.23 billion. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. During the same quarter last year, the firm posted $4.37 earnings per share. Equities research analysts predict that JPMorgan Chase & Co. will post 16.72 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Barclays boosted their price objective on shares of JPMorgan Chase & Co. from $212.00 to $217.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th. Keefe, Bruyette & Woods upped their price target on JPMorgan Chase & Co. from $209.00 to $211.00 and gave the stock a “market perform” rating in a research note on Tuesday, July 9th. Wolfe Research lowered JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a research report on Monday, July 8th. Evercore ISI boosted their target price on JPMorgan Chase & Co. from $210.00 to $211.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. Finally, Morgan Stanley cut JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and increased their target price for the stock from $220.00 to $224.00 in a research note on Monday. Nine investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $211.31.

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.