JPMorgan Chase & Co. (NYSE:JPM) Price Target Raised to $119.00 at BMO Capital Markets

JPMorgan Chase & Co. (NYSE:JPM) had its price objective raised by BMO Capital Markets from $117.00 to $119.00 in a report published on Wednesday morning, The Fly reports. BMO Capital Markets currently has a market perform rating on the financial services provider’s stock.

Several other research analysts have also recently issued reports on the company. Oppenheimer restated a hold rating on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 14th. Berenberg Bank raised their price objective on JPMorgan Chase & Co. from $77.00 to $80.00 and gave the stock a sell rating in a research note on Monday, July 20th. Morgan Stanley restated a buy rating and issued a $106.00 price objective on shares of JPMorgan Chase & Co. in a research note on Monday, July 27th. Wolfe Research upgraded JPMorgan Chase & Co. from a peer perform rating to an outperform rating and set a $113.00 price objective for the company in a research note on Thursday, July 9th. Finally, Credit Suisse Group reissued a buy rating and issued a $126.00 price target (up from $122.00) on shares of JPMorgan Chase & Co. in a report on Wednesday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and seventeen have issued a buy rating to the stock. The company has an average rating of Buy and an average target price of $111.59.

Shares of NYSE JPM opened at $101.51 on Wednesday. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.88 and a current ratio of 0.88. The company has a market cap of $309.36 billion, a PE ratio of 13.27, a P/E/G ratio of 3.16 and a beta of 1.15. The business has a 50-day simple moving average of $99.36 and a two-hundred day simple moving average of $96.79. JPMorgan Chase & Co. has a fifty-two week low of $76.91 and a fifty-two week high of $141.10.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data on Monday, October 19th. The financial services provider reported $2.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.23 by $0.69. JPMorgan Chase & Co. had a return on equity of 10.75% and a net margin of 18.16%. The firm had revenue of $29.90 billion during the quarter, compared to analysts’ expectations of $28.20 billion. During the same period last year, the business posted $2.68 earnings per share. The company’s revenue for the quarter was up 4.0% compared to the same quarter last year. On average, sell-side analysts predict that JPMorgan Chase & Co. will post 6.48 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, October 31st. Shareholders of record on Tuesday, October 6th will be issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 3.55%. The ex-dividend date is Monday, October 5th. JPMorgan Chase & Co.’s payout ratio is 34.35%.

Institutional investors and hedge funds have recently bought and sold shares of the business. Hoey Investments Inc. lifted its holdings in JPMorgan Chase & Co. by 187.7% during the second quarter. Hoey Investments Inc. now owns 49,684 shares of the financial services provider’s stock valued at $4,673,000 after purchasing an additional 32,417 shares in the last quarter. Hayden Royal LLC raised its position in shares of JPMorgan Chase & Co. by 2.7% in the first quarter. Hayden Royal LLC now owns 13,848 shares of the financial services provider’s stock valued at $1,247,000 after buying an additional 362 shares during the last quarter. Occidental Asset Management LLC raised its position in shares of JPMorgan Chase & Co. by 6.7% in the second quarter. Occidental Asset Management LLC now owns 8,857 shares of the financial services provider’s stock valued at $833,000 after buying an additional 554 shares during the last quarter. GFG Capital LLC acquired a new stake in shares of JPMorgan Chase & Co. in the second quarter valued at about $947,000. Finally, WealthTrust Axiom LLC raised its position in shares of JPMorgan Chase & Co. by 7.0% in the second quarter. WealthTrust Axiom LLC now owns 7,703 shares of the financial services provider’s stock valued at $724,000 after buying an additional 501 shares during the last quarter. 69.35% of the stock is currently owned by institutional investors and hedge funds.

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 and investment products 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, payment processing, auto loan, and leasing services.

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