JPMorgan Chase & Co. (NYSE:JPM) Given New $336.00 Price Target at Piper Sandler

by · The Markets Daily

JPMorgan Chase & Co. (NYSE:JPM) had its price target raised by Piper Sandler from $332.00 to $336.00 in a report issued on Wednesday,MarketScreener reports. The brokerage currently has an overweight rating on the financial services provider’s stock.

Several other equities analysts have also recently commented on JPM. Wolfe Research lifted their target price on shares of JPMorgan Chase & Co. from $342.00 to $346.00 and gave the stock an “outperform” rating in a research report on Thursday, October 16th. Barclays boosted their price target on shares of JPMorgan Chase & Co. from $330.00 to $342.00 and gave the stock an “overweight” rating in a report on Wednesday, October 15th. Loop Capital set a $310.00 price target on shares of JPMorgan Chase & Co. in a research report on Thursday, October 23rd. Cowen reaffirmed a “buy” rating on shares of JPMorgan Chase & Co. in a research report on Tuesday. Finally, The Goldman Sachs Group dropped their target price on shares of JPMorgan Chase & Co. from $355.00 to $354.00 and set a “buy” rating on the stock in a research note on Friday, December 5th. Fifteen analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $326.81.

Get Our Latest Analysis on JPM

JPMorgan Chase & Co. Trading Up 0.4%

Shares of JPM traded up $1.36 during mid-day trading on Wednesday, reaching $318.74. 8,615,054 shares of the company were exchanged, compared to its average volume of 8,866,735. The stock has a market capitalization of $867.69 billion, a PE ratio of 15.79, a PEG ratio of 1.64 and a beta of 1.08. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.86 and a current ratio of 0.86. JPMorgan Chase & Co. has a 52 week low of $202.16 and a 52 week high of $322.25. The business has a 50 day simple moving average of $306.77 and a two-hundred day simple moving average of $296.41.

JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last released its quarterly earnings data on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share for the quarter, beating the consensus estimate of $4.83 by $0.24. JPMorgan Chase & Co. had a net margin of 20.90% and a return on equity of 17.18%. The company had revenue of $47.12 billion during the quarter, compared to analyst estimates of $44.42 billion. During the same quarter in the previous year, the business posted $4.37 EPS. JPMorgan Chase & Co.’s revenue for the quarter was up 8.8% compared to the same quarter last year. On average, analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, January 31st. Investors of record on Tuesday, January 6th will be issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Tuesday, January 6th. JPMorgan Chase & Co.’s dividend payout ratio is currently 29.72%.

Insider Activity at JPMorgan Chase & Co.

In other news, insider Robin Leopold sold 966 shares of the business’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $311.92, for a total transaction of $301,314.72. Following the sale, the insider owned 58,479 shares in the company, valued at approximately $18,240,769.68. The trade was a 1.63% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.47% of the company’s stock.

Hedge Funds Weigh In On JPMorgan Chase & Co.

A number of institutional investors and hedge funds have recently modified their holdings of the company. Harbor Asset Planning Inc. purchased a new position in JPMorgan Chase & Co. during the second quarter valued at approximately $26,000. Mizuho Securities Co. Ltd. boosted its stake in shares of JPMorgan Chase & Co. by 450.0% in the second quarter. Mizuho Securities Co. Ltd. now owns 110 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 90 shares during the period. Mountain Hill Investment Partners Corp. purchased a new stake in shares of JPMorgan Chase & Co. during the third quarter worth about $32,000. Family Legacy Financial Solutions LLC lifted its holdings in JPMorgan Chase & Co. by 92.6% in the 3rd quarter. Family Legacy Financial Solutions LLC now owns 104 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 50 shares in the last quarter. Finally, Turning Point Benefit Group Inc. bought a new position in shares of JPMorgan Chase & Co. during the third quarter worth $35,000. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

About JPMorgan Chase & Co.

(Get Free Report)

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.

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