JPMorgan Chase & Co. (JPM) Shares Gap Up Following Better-Than-Expected Earnings

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Shares of JPMorgan Chase & Co. (NYSE:JPM) gapped up prior to trading on Friday following a stronger than expected earnings report. The stock had previously closed at $103.02, but opened at $106.23. JPMorgan Chase & Co. shares last traded at $111.21, with a volume of 25827426 shares changing hands.

The financial services provider reported $2.65 EPS for the quarter, topping the Zacks’ consensus estimate of $2.32 by $0.33. The company had revenue of $29.12 billion during the quarter, compared to the consensus estimate of $27.95 billion. JPMorgan Chase & Co. had a net margin of 24.71% and a return on equity of 14.07%. During the same quarter in the prior year, the firm earned $2.37 EPS.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, April 5th will be given a dividend of $0.80 per share. The ex-dividend date is Thursday, April 4th. This represents a $3.20 dividend on an annualized basis and a yield of 2.88%. JPMorgan Chase & Co.’s payout ratio is currently 35.56%.

A number of equities analysts have recently weighed in on JPM shares. Jefferies Financial Group cut shares of JPMorgan Chase & Co. from a “buy” rating to a “hold” rating and set a $101.20 price target on the stock. in a research note on Tuesday, January 8th. BMO Capital Markets lowered their price target on shares of JPMorgan Chase & Co. from $124.00 to $123.00 and set a “market perform” rating on the stock in a research note on Wednesday, January 16th. Zacks Investment Research cut shares of JPMorgan Chase & Co. from a “hold” rating to a “sell” rating in a research note on Tuesday, April 2nd. Barclays reaffirmed a “buy” rating and set a $140.00 price target on shares of JPMorgan Chase & Co. in a research note on Thursday, February 21st. Finally, HSBC set a $102.00 price target on shares of JPMorgan Chase & Co. and gave the stock a “neutral” rating in a research note on Thursday, April 4th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and ten have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $122.25.

In related news, CEO Douglas B. Petno sold 11,659 shares of the stock in a transaction dated Tuesday, January 29th. The shares were sold at an average price of $105.00, for a total value of $1,224,195.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, General Counsel Stacey Friedman sold 3,022 shares of the stock in a transaction dated Tuesday, January 29th. The shares were sold at an average price of $105.00, for a total transaction of $317,310.00. Following the completion of the sale, the general counsel now directly owns 12,519 shares in the company, valued at $1,314,495. The disclosure for this sale can be found here. Over the last three months, insiders sold 39,191 shares of company stock worth $4,102,110. 0.73% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Orleans Capital Management Corp LA boosted its stake in shares of JPMorgan Chase & Co. by 3.0% during the 2nd quarter. Orleans Capital Management Corp LA now owns 20,511 shares of the financial services provider’s stock worth $2,137,000 after purchasing an additional 595 shares during the last quarter. Rice Partnership LLC lifted its holdings in shares of JPMorgan Chase & Co. by 5.0% during the 2nd quarter. Rice Partnership LLC now owns 57,350 shares of the financial services provider’s stock worth $5,976,000 after acquiring an additional 2,731 shares during the period. Paragon Capital Management Ltd lifted its holdings in shares of JPMorgan Chase & Co. by 9.5% during the 2nd quarter. Paragon Capital Management Ltd now owns 8,170 shares of the financial services provider’s stock worth $851,000 after acquiring an additional 710 shares during the period. SRS Capital Advisors Inc. lifted its holdings in shares of JPMorgan Chase & Co. by 22.8% during the 2nd quarter. SRS Capital Advisors Inc. now owns 6,059 shares of the financial services provider’s stock worth $631,000 after acquiring an additional 1,126 shares during the period. Finally, Waverton Investment Management Ltd lifted its holdings in shares of JPMorgan Chase & Co. by 1,822.3% during the 2nd quarter. Waverton Investment Management Ltd now owns 713,147 shares of the financial services provider’s stock worth $74,310,000 after acquiring an additional 676,049 shares during the period. 69.88% of the stock is currently owned by hedge funds and other institutional investors.

The firm has a market capitalization of $364.58 billion, a price-to-earnings ratio of 12.36, a PEG ratio of 1.65 and a beta of 1.11. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.00 and a current ratio of 1.00.

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JPMorgan Chase & Co. Company Profile (NYSE:JPM)

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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