JPMorgan Chase & Co. (NYSE:JPM – Get Rating) – Jefferies Financial Group lifted their Q1 2023 earnings per share estimates for shares of JPMorgan Chase & Co. in a report released on Monday, January 9th. Jefferies Financial Group analyst K. Usdin now forecasts that the financial services provider will earn $3.66 per share for the quarter, up from their previous estimate of $3.59. The consensus estimate for JPMorgan Chase & Co.’s current full-year earnings is $11.69 per share. Jefferies Financial Group also issued estimates for JPMorgan Chase & Co.’s Q2 2023 earnings at $3.16 EPS, Q3 2023 earnings at $2.86 EPS, FY2023 earnings at $12.65 EPS and FY2024 earnings at $13.65 EPS.
Several other analysts also recently weighed in on the company. Barclays increased their target price on JPMorgan Chase & Co. from $162.00 to $189.00 and gave the company an “overweight” rating in a research note on Tuesday, January 3rd. StockNews.com started coverage on JPMorgan Chase & Co. in a research note on Wednesday, October 12th. They set a “hold” rating for the company. The Goldman Sachs Group decreased their target price on JPMorgan Chase & Co. from $133.00 to $130.00 and set a “buy” rating for the company in a research note on Tuesday, October 4th. Royal Bank of Canada set a $130.00 target price on JPMorgan Chase & Co. in a research note on Thursday, January 5th. Finally, Piper Sandler started coverage on JPMorgan Chase & Co. in a research note on Thursday, December 8th. They set an “overweight” rating and a $150.00 target price for the company. Seven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $143.39.
JPMorgan Chase & Co. Stock Performance
JPM opened at $137.37 on Tuesday. The company has a market cap of $402.94 billion, a PE ratio of 11.60, a price-to-earnings-growth ratio of 2.16 and a beta of 1.13. The stock has a 50-day moving average of $133.10 and a 200-day moving average of $121.24. JPMorgan Chase & Co. has a 52-week low of $101.28 and a 52-week high of $169.81. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.84 and a current ratio of 0.84.
JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last released its quarterly earnings results on Friday, October 14th. The financial services provider reported $3.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.96 by $0.16. The company had revenue of $32.72 billion during the quarter, compared to the consensus estimate of $31.88 billion. JPMorgan Chase & Co. had a return on equity of 14.52% and a net margin of 26.85%. The firm’s revenue was up 10.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.74 EPS.
Institutional Investors Weigh In On JPMorgan Chase & Co.
A number of hedge funds and other institutional investors have recently bought and sold shares of JPM. HBC Financial Services PLLC boosted its position in JPMorgan Chase & Co. by 61.2% in the 2nd quarter. HBC Financial Services PLLC now owns 237 shares of the financial services provider’s stock valued at $27,000 after buying an additional 90 shares during the last quarter. Grayhawk Investment Strategies Inc. bought a new position in JPMorgan Chase & Co. in the 2nd quarter valued at $32,000. Financial Connections Group Inc. boosted its position in JPMorgan Chase & Co. by 48.5% in the 2nd quarter. Financial Connections Group Inc. now owns 306 shares of the financial services provider’s stock valued at $34,000 after buying an additional 100 shares during the last quarter. Horizons Wealth Management bought a new position in JPMorgan Chase & Co. in the 2nd quarter valued at $39,000. Finally, New Millennium Group LLC bought a new position in JPMorgan Chase & Co. in the 2nd quarter valued at $39,000. 67.89% of the stock is owned by institutional investors and hedge funds.
Insider Transactions at JPMorgan Chase & Co.
In other news, CEO Mary E. Erdoes sold 33,515 shares of the stock in a transaction that occurred on Monday, October 17th. The stock was sold at an average price of $115.77, for a total value of $3,880,031.55. Following the completion of the transaction, the chief executive officer now directly owns 533,795 shares of the company’s stock, valued at approximately $61,797,447.15. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Robin Leopold sold 2,000 shares of the firm’s stock in a transaction on Wednesday, October 26th. The stock was sold at an average price of $125.07, for a total transaction of $250,140.00. Following the completion of the sale, the insider now directly owns 19,031 shares of the company’s stock, valued at approximately $2,380,207.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Mary E. Erdoes sold 33,515 shares of the firm’s stock in a transaction on Monday, October 17th. The shares were sold at an average price of $115.77, for a total value of $3,880,031.55. Following the sale, the chief executive officer now directly owns 533,795 shares of the company’s stock, valued at $61,797,447.15. The disclosure for this sale can be found here. In the last ninety days, insiders sold 41,964 shares of company stock valued at $4,936,426. Corporate insiders own 0.79% of the company’s stock.
JPMorgan Chase & Co. Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 31st. Stockholders of record on Friday, January 6th will be issued a $1.00 dividend. The ex-dividend date is Thursday, January 5th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.91%. JPMorgan Chase & Co.’s payout ratio is presently 33.78%.
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 s deposit, investment and lending products, payments, and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit card, auto loan, and leasing services.
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