JPMorgan Chase & Co. (NYSE:JPM – Get Rating) – Analysts at Jefferies Financial Group raised their Q2 2023 earnings per share estimates for JPMorgan Chase & Co. in a report released on Tuesday, April 11th. Jefferies Financial Group analyst K. Usdin now expects that the financial services provider will post earnings per share of $3.25 for the quarter, up from their previous estimate of $3.21. The consensus estimate for JPMorgan Chase & Co.’s current full-year earnings is $12.82 per share.
JPM has been the topic of several other research reports. Oppenheimer reduced their price objective on shares of JPMorgan Chase & Co. from $186.00 to $157.00 and set an “outperform” rating on the stock in a research report on Thursday, March 23rd. Deutsche Bank Aktiengesellschaft downgraded shares of JPMorgan Chase & Co. from a “buy” rating to a “hold” rating and reduced their price target for the company from $155.00 to $145.00 in a report on Friday, January 6th. Wells Fargo & Company raised shares of JPMorgan Chase & Co. from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $148.00 to $155.00 in a report on Monday, March 13th. Evercore ISI decreased their target price on JPMorgan Chase & Co. from $157.00 to $146.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 5th. Finally, Royal Bank of Canada cut their price target on JPMorgan Chase & Co. from $150.00 to $132.00 and set an “outperform” rating for the company in a report on Friday, March 24th. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $148.78.
JPMorgan Chase & Co. Price Performance
JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last released its earnings results on Friday, January 13th. The financial services provider reported $3.57 EPS for the quarter, topping analysts’ consensus estimates of $3.11 by $0.46. The company had revenue of $34.55 billion for the quarter, compared to analysts’ expectations of $34.23 billion. JPMorgan Chase & Co. had a net margin of 24.34% and a return on equity of 14.68%. The firm’s revenue was up 18.1% compared to the same quarter last year. During the same quarter last year, the business earned $3.33 EPS.
Institutional Inflows and Outflows
Several large investors have recently modified their holdings of the company. Retirement Financial Solutions LLC acquired a new stake in JPMorgan Chase & Co. in the fourth quarter worth about $26,000. HBC Financial Services PLLC grew its position in JPMorgan Chase & Co. by 61.2% during the 2nd quarter. HBC Financial Services PLLC now owns 237 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 90 shares during the last quarter. Adirondack Retirement Specialists Inc. increased its stake in JPMorgan Chase & Co. by 510.8% during the 1st quarter. Adirondack Retirement Specialists Inc. now owns 226 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 189 shares in the last quarter. Creative Capital Management Investments LLC purchased a new position in shares of JPMorgan Chase & Co. in the fourth quarter worth $30,000. Finally, New Millennium Group LLC acquired a new stake in shares of JPMorgan Chase & Co. during the second quarter worth $39,000. Institutional investors own 67.89% of the company’s stock.
Insider Transactions at JPMorgan Chase & Co.
In other JPMorgan Chase & Co. news, Director Mellody L. Hobson bought 375 shares of the company’s stock in a transaction on Thursday, January 19th. The shares were bought at an average cost of $134.53 per share, for a total transaction of $50,448.75. Following the acquisition, the director now directly owns 22,040 shares in the company, valued at $2,965,041.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 23,148 shares of the stock in a transaction on Tuesday, January 17th. The stock was sold at an average price of $140.31, for a total transaction of $3,247,895.88. Following the sale, the general counsel now owns 48,311 shares of the company’s stock, valued at approximately $6,778,516.41. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mellody L. Hobson purchased 375 shares of the business’s stock in a transaction dated Thursday, January 19th. The stock was bought at an average price of $134.53 per share, for a total transaction of $50,448.75. Following the completion of the acquisition, the director now directly owns 22,040 shares in the company, valued at approximately $2,965,041.20. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 37,887 shares of company stock valued at $5,315,762. 0.79% of the stock is currently owned by corporate insiders.
JPMorgan Chase & Co. Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Sunday, April 30th. Shareholders of record on Thursday, April 6th will be issued a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 3.11%. The ex-dividend date is Wednesday, April 5th. JPMorgan Chase & Co.’s dividend payout ratio is 33.11%.
JPMorgan Chase & Co. Company Profile
JPMorgan Chase & Co is a financial holding company, which engages in providing financial and investment banking services. The firm offers a range of investment banking products and services in all capital markets, including advising on corporate strategy and structure, capital raising in equity and debt markets, risk management, market making in cash securities and derivative instruments, and brokerage and research.
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