JPMorgan Chase & Co. (NYSE:JPM) Upgraded to “Buy” at DA Davidson
DA Davidson upgraded shares of JPMorgan Chase & Co. (NYSE:JPM) from a neutral rating to a buy rating in a research report report published on Thursday, BenzingaRatingsTable reports. The brokerage currently has $117.00 price objective on the financial services provider’s stock, up from their prior price objective of $102.00.
JPM has been the subject of a number of other reports. ValuEngine raised JPMorgan Chase & Co. from a sell rating to a hold rating in a report on Thursday, April 9th. DZ Bank upgraded JPMorgan Chase & Co. from a hold rating to a buy rating and set a $100.00 price objective on the stock in a research report on Friday, March 20th. Keefe, Bruyette & Woods upgraded JPMorgan Chase & Co. from a market perform rating to an outperform rating in a research report on Wednesday, April 1st. Odeon Capital Group upgraded JPMorgan Chase & Co. from a hold rating to a buy rating and set a $105.75 price objective on the stock in a research report on Wednesday, May 20th. Finally, UBS Group increased their price objective on JPMorgan Chase & Co. from $82.00 to $96.00 and gave the company a neutral rating in a research report on Monday, May 4th. Ten equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The company presently has an average rating of Buy and a consensus price target of $111.99.
Shares of JPM traded up $3.46 during mid-day trading on Thursday, reaching $94.74. The company had a trading volume of 1,040,317 shares, compared to its average volume of 22,377,682. JPMorgan Chase & Co. has a twelve month low of $76.91 and a twelve month high of $141.10. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.89 and a quick ratio of 0.89. The company’s 50-day moving average is $97.78 and its 200-day moving average is $109.93. The company has a market capitalization of $284.29 billion, a P/E ratio of 10.31, a P/E/G ratio of 3.62 and a beta of 1.19.
The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Monday, July 6th will be paid a $0.90 dividend. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a $3.60 dividend on an annualized basis and a dividend yield of 3.80%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 34.35%.
In related news, insider Ashley Bacon sold 13,027 shares of the stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $91.12, for a total transaction of $1,187,020.24. Following the completion of the sale, the insider now directly owns 137,243 shares of the company’s stock, valued at approximately $12,505,582.16. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Stephen B. Burke bought 75,000 shares of the stock in a transaction that occurred on Thursday, April 16th. The shares were acquired at an average cost of $87.99 per share, with a total value of $6,599,250.00. Following the completion of the purchase, the director now owns 150,043 shares in the company, valued at approximately $13,202,283.57. The disclosure for this purchase can be found here. Corporate insiders own 0.78% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Lion Street Advisors LLC bought a new stake in JPMorgan Chase & Co. in the 1st quarter valued at $37,000. NWK Group Inc. bought a new position in JPMorgan Chase & Co. in the 4th quarter valued at about $39,000. Horan Securities Inc. acquired a new position in shares of JPMorgan Chase & Co. in the 1st quarter valued at approximately $45,000. Sailer Financial LLC acquired a new position in shares of JPMorgan Chase & Co. in the 4th quarter valued at approximately $50,000. Finally, Efficient Wealth Management LLC bought a new stake in shares of JPMorgan Chase & Co. during the 1st quarter worth approximately $51,000. 71.57% of the stock is owned by institutional investors.
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.
Featured Story: What is cost of equity?
Receive News & Ratings for JPMorgan Chase & Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for JPMorgan Chase & Co. and related companies with MarketBeat.com's FREE daily email newsletter.