JPMorgan Chase & Co. (NYSE:JPM) Issues Earnings Results, Beats Estimates By $0.44 EPS

JPMorgan Chase & Co. (NYSE:JPM) issued its quarterly earnings results on Friday. The financial services provider reported $5.07 EPS for the quarter, beating analysts’ consensus estimates of $4.63 by $0.44, Zacks reports. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. The company had revenue of $45.30 billion for the quarter, compared to analyst estimates of $43.62 billion. During the same period last year, the company earned $4.44 earnings per share. The company’s quarterly revenue was up 8.0% compared to the same quarter last year.

JPMorgan Chase & Co. Stock Up 4.0 %

Shares of JPM opened at $236.26 on Friday. The firm has a 50 day simple moving average of $248.89 and a two-hundred day simple moving average of $242.03. The company has a market cap of $660.60 billion, a P/E ratio of 11.97, a P/E/G ratio of 2.83 and a beta of 1.01. JPMorgan Chase & Co. has a one year low of $179.20 and a one year high of $280.25. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.88 and a quick ratio of 0.89.

JPMorgan Chase & Co. Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Friday, April 4th will be paid a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 2.37%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. The ex-dividend date of this dividend is Friday, April 4th. JPMorgan Chase & Co.’s dividend payout ratio is presently 28.37%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on JPM shares. Bank of America reduced their target price on JPMorgan Chase & Co. from $285.00 to $284.00 and set a “buy” rating for the company in a report on Wednesday, April 2nd. UBS Group upped their price target on shares of JPMorgan Chase & Co. from $276.00 to $287.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Robert W. Baird upgraded shares of JPMorgan Chase & Co. from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $215.00 to $220.00 in a research report on Friday, March 7th. Barclays raised their target price on JPMorgan Chase & Co. from $304.00 to $330.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Finally, Baird R W raised JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a research report on Friday, March 7th. Ten research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $254.83.

Insider Buying and Selling

In related news, insider Robin Leopold sold 1,250 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $270.09, for a total value of $337,612.50. Following the completion of the transaction, the insider now owns 50,377 shares in the company, valued at $13,606,323.93. This trade represents a 2.42 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Stacey Friedman sold 3,303 shares of JPMorgan Chase & Co. stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $253.94, for a total transaction of $838,763.82. Following the transaction, the general counsel now owns 47,620 shares in the company, valued at approximately $12,092,622.80. This trade represents a 6.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 76,848 shares of company stock worth $19,987,908 in the last ninety days. 0.79% of the stock is owned by insiders.

Institutional Trading of JPMorgan Chase & Co.

An institutional investor recently raised its position in JPMorgan Chase & Co. stock. Brighton Jones LLC raised its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 11.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 48,732 shares of the financial services provider’s stock after buying an additional 4,841 shares during the quarter. Brighton Jones LLC’s holdings in JPMorgan Chase & Co. were worth $11,682,000 as of its most recent SEC filing. Institutional investors and hedge funds own 71.55% of the company’s stock.

About JPMorgan Chase & Co.

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.