JPMorgan Chase & Co. (NYSE:JPM – Free Report) – Seaport Res Ptn upped their Q3 2023 earnings per share (EPS) estimates for shares of JPMorgan Chase & Co. in a research note issued on Monday, July 17th. Seaport Res Ptn analyst J. Mitchell now expects that the financial services provider will post earnings per share of $3.63 for the quarter, up from their previous forecast of $3.59. The consensus estimate for JPMorgan Chase & Co.’s current full-year earnings is $14.39 per share. Seaport Res Ptn also issued estimates for JPMorgan Chase & Co.’s Q4 2023 earnings at $3.42 EPS, Q1 2024 earnings at $3.97 EPS, Q2 2024 earnings at $3.87 EPS, Q3 2024 earnings at $3.73 EPS and FY2024 earnings at $15.15 EPS.
A number of other analysts also recently weighed in on the company. Wolfe Research upgraded JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $170.00 target price for the company in a research report on Friday, July 7th. Credit Suisse Group upped their price objective on JPMorgan Chase & Co. from $160.00 to $170.00 in a research report on Monday. Morgan Stanley upped their target price on JPMorgan Chase & Co. from $157.00 to $160.00 in a report on Tuesday, May 23rd. 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. Finally, 888 reaffirmed a “maintains” rating on shares of JPMorgan Chase & Co. in a report on Monday, June 26th. 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, JPMorgan Chase & Co. presently has a consensus rating of “Moderate Buy” and an average price target of $161.44.
JPMorgan Chase & Co. Trading Up 2.4 %
JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last posted its quarterly earnings data on Friday, July 14th. The financial services provider reported $4.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.62 by $0.75. JPMorgan Chase & Co. had a net margin of 23.45% and a return on equity of 17.29%. The firm had revenue of $42.40 billion during the quarter, compared to the consensus estimate of $38.66 billion. During the same quarter in the previous year, the firm posted $2.76 EPS. The business’s revenue for the quarter was up 34.1% compared to the same quarter last year.
JPMorgan Chase & Co. Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 31st. Stockholders of record on Thursday, July 6th will be paid a $1.00 dividend. The ex-dividend date is Wednesday, July 5th. This represents a $4.00 annualized dividend and a dividend yield of 2.61%. JPMorgan Chase & Co.’s payout ratio is 25.74%.
Insider Activity at JPMorgan Chase & Co.
In other news, CEO Daniel E. Pinto sold 113,640 shares of the stock in a transaction dated Thursday, May 11th. The shares were sold at an average price of $135.93, for a total transaction of $15,447,085.20. Following the completion of the sale, the chief executive officer now directly owns 566,665 shares in the company, valued at $77,026,773.45. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Vice Chairman Peter Scher sold 1,240 shares of the business’s stock in a transaction on Monday, May 15th. The shares were sold at an average price of $135.02, for a total value of $167,424.80. Following the sale, the insider now owns 45,056 shares in the company, valued at $6,083,461.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Daniel E. Pinto sold 113,640 shares of the firm’s stock in a transaction dated Thursday, May 11th. The shares were sold at an average price of $135.93, for a total transaction of $15,447,085.20. Following the transaction, the chief executive officer now directly owns 566,665 shares in the company, valued at approximately $77,026,773.45. The disclosure for this sale can be found here. Over the last quarter, insiders sold 145,861 shares of company stock valued at $19,858,275. Company insiders own 0.79% of the company’s stock.
Hedge Funds Weigh In On JPMorgan Chase & Co.
Several hedge funds and other institutional investors have recently bought and sold shares of JPM. Moneta Group Investment Advisors LLC boosted its holdings in shares of JPMorgan Chase & Co. by 105,652.2% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 98,000,567 shares of the financial services provider’s stock worth $13,141,876,000 after purchasing an additional 97,907,897 shares during the last quarter. Morgan Stanley grew its stake in shares of JPMorgan Chase & Co. by 15.9% in the fourth quarter. Morgan Stanley now owns 59,049,256 shares of the financial services provider’s stock worth $7,918,506,000 after acquiring an additional 8,088,433 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of JPMorgan Chase & Co. by 2.1% in the 1st quarter. Geode Capital Management LLC now owns 52,310,456 shares of the financial services provider’s stock valued at $6,801,125,000 after purchasing an additional 1,061,831 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in JPMorgan Chase & Co. by 7.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 32,769,523 shares of the financial services provider’s stock valued at $4,270,198,000 after purchasing an additional 2,285,429 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of JPMorgan Chase & Co. during the fourth quarter worth approximately $3,894,646,000. Institutional investors and hedge funds own 70.10% of the company’s stock.
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 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.
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