JPMorgan Chase & Co. (NYSE:JPM) Issues Earnings Results

Posted by Defense World Staff on Jul 17th, 2023

JPMorgan Chase & Co. (NYSE:JPM) released its quarterly earnings results on Friday. The financial services provider reported $4.37 EPS for the quarter, topping analysts’ consensus estimates of $3.62 by $0.75, Briefing.com reports. JPMorgan Chase & Co. had a return on equity of 16.02% and a net margin of 23.73%. The company had revenue of $42.40 billion for the quarter, compared to analyst estimates of $38.66 billion. During the same quarter last year, the firm posted $2.76 earnings per share. JPMorgan Chase & Co.’s revenue was up 34.1% compared to the same quarter last year.

JPMorgan Chase & Co. Trading Up 0.6 %

Shares of JPMorgan Chase & Co. stock opened at $149.77 on Monday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.85. The stock has a 50 day moving average price of $140.53 and a two-hundred day moving average price of $137.90. JPMorgan Chase & Co. has a 52 week low of $101.28 and a 52 week high of $152.89. The stock has a market capitalization of $437.67 billion, a PE ratio of 9.64, a price-to-earnings-growth ratio of 2.07 and a beta of 1.10.

JPMorgan Chase & Co. Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 31st. Investors of record on Thursday, July 6th will be paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date of this dividend is Wednesday, July 5th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 25.74%.

Wall Street Analysts Forecast Growth

JPM has been the topic of several research reports. Odeon Capital Group raised shares of JPMorgan Chase & Co. from a “hold” rating to a “buy” rating in a research report on Monday, May 1st. Jefferies Financial Group upgraded JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and increased their price objective for the stock from $149.00 to $165.00 in a report on Tuesday, July 11th. Societe Generale downgraded JPMorgan Chase & Co. from a “buy” rating to a “hold” rating in a research report on Monday, July 10th. Oppenheimer boosted their price target on shares of JPMorgan Chase & Co. from $157.00 to $192.00 and gave the stock an “outperformer” rating in a research report on Monday, April 17th. Finally, BMO Capital Markets boosted their price target on JPMorgan Chase & Co. from $169.00 to $170.00 in a research report on Tuesday, May 2nd. Seven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $159.11.

Insiders Place Their Bets

In other news, Vice Chairman Peter Scher sold 1,240 shares of the stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $135.02, for a total value of $167,424.80. Following the completion of the sale, the insider now directly owns 45,056 shares of the company’s stock, valued at $6,083,461.12. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Vice Chairman Peter Scher sold 1,240 shares of the business’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $135.02, for a total value of $167,424.80. Following the transaction, the insider now owns 45,056 shares in the company, valued at approximately $6,083,461.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Daniel E. Pinto sold 113,640 shares of JPMorgan Chase & Co. stock in a transaction on Thursday, May 11th. The stock was sold at an average price of $135.93, for a total value of $15,447,085.20. Following the sale, the chief executive officer now owns 566,665 shares in the company, valued at $77,026,773.45. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 145,861 shares of company stock worth $19,858,275. Insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On JPMorgan Chase & Co.

Hedge funds have recently modified their holdings of the stock. Spotlight Asset Group Inc. bought a new stake in shares of JPMorgan Chase & Co. in the first quarter valued at $273,000. Tatro Capital LLC lifted its stake in shares of JPMorgan Chase & Co. by 17.1% during the 1st quarter. Tatro Capital LLC now owns 1,975 shares of the financial services provider’s stock valued at $269,000 after buying an additional 289 shares in the last quarter. Fithian LLC bought a new position in JPMorgan Chase & Co. in the 4th quarter worth approximately $252,000. RiverFront Investment Group LLC purchased a new position in JPMorgan Chase & Co. in the 4th quarter valued at approximately $247,000. Finally, Quantbot Technologies LP purchased a new stake in shares of JPMorgan Chase & Co. during the first quarter worth $238,000. Institutional investors own 70.10% of the company’s stock.

About JPMorgan Chase & Co.

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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 to consumers and small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services.