Investors Buy J P Morgan Chase & Co (JPM) on Weakness

Investors bought shares of J P Morgan Chase & Co (NYSE:JPM) on weakness during trading hours on Monday. $171.53 million flowed into the stock on the tick-up and $124.37 million flowed out of the stock on the tick-down, for a money net flow of $47.16 million into the stock. Of all equities tracked, J P Morgan Chase & Co had the 14th highest net in-flow for the day. J P Morgan Chase & Co traded down ($0.51) for the day and closed at $96.41

JPM has been the subject of several recent research reports. Bank of America Corporation restated an “outperform” rating and set a $99.00 target price on shares of J P Morgan Chase & Co in a report on Wednesday, June 21st. Credit Suisse Group dropped their price target on shares of J P Morgan Chase & Co from $102.00 to $99.00 and set an “outperform” rating on the stock in a research report on Thursday, June 29th. Deutsche Bank AG reaffirmed a “buy” rating on shares of J P Morgan Chase & Co in a research report on Monday, July 3rd. BidaskClub raised shares of J P Morgan Chase & Co from a “hold” rating to a “buy” rating in a research report on Wednesday, July 5th. Finally, Goldman Sachs Group, Inc. (The) reaffirmed a “neutral” rating and set a $93.00 price target on shares of J P Morgan Chase & Co in a research report on Thursday, July 6th. Three analysts have rated the stock with a sell rating, fifteen have given a hold rating and seventeen have issued a buy rating to the company. J P Morgan Chase & Co has an average rating of “Hold” and an average price target of $88.87.

The company has a market cap of $341.75 billion, a P/E ratio of 14.33 and a beta of 1.18. The firm’s 50-day moving average is $93.07 and its 200 day moving average is $89.60.

J P Morgan Chase & Co (NYSE:JPM) last issued its quarterly earnings results on Friday, July 14th. The financial services provider reported $1.82 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.59 by $0.23. The company had revenue of $25.50 billion for the quarter, compared to the consensus estimate of $24.38 billion. J P Morgan Chase & Co had a net margin of 24.13% and a return on equity of 11.53%. The firm’s quarterly revenue was up 4.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.55 EPS. On average, equities research analysts predict that J P Morgan Chase & Co will post $6.80 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Friday, October 6th will be issued a $0.56 dividend. This is an increase from J P Morgan Chase & Co’s previous quarterly dividend of $0.50. This represents a $2.24 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date of this dividend is Thursday, October 5th. J P Morgan Chase & Co’s payout ratio is 33.14%.

In related news, CFO Marianne Lake sold 17,596 shares of the business’s stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $91.58, for a total value of $1,611,441.68. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Stacey Friedman sold 9,968 shares of the business’s stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $90.55, for a total value of $902,602.40. Following the completion of the sale, the general counsel now owns 10,527 shares in the company, valued at $953,219.85. The disclosure for this sale can be found here. Insiders sold a total of 28,564 shares of company stock worth $2,605,334 over the last three months. 0.88% of the stock is owned by insiders.

Institutional investors have recently made changes to their positions in the stock. Grand Jean Capital Management Inc. raised its stake in J P Morgan Chase & Co by 33.3% in the 1st quarter. Grand Jean Capital Management Inc. now owns 26,788 shares of the financial services provider’s stock valued at $2,353,000 after acquiring an additional 6,688 shares during the period. Gradient Investments LLC raised its stake in J P Morgan Chase & Co by 9.1% in the 2nd quarter. Gradient Investments LLC now owns 75,929 shares of the financial services provider’s stock valued at $6,940,000 after acquiring an additional 6,365 shares during the period. Thomaspartners Inc. raised its stake in J P Morgan Chase & Co by 2.8% in the 1st quarter. Thomaspartners Inc. now owns 2,572,428 shares of the financial services provider’s stock valued at $225,962,000 after acquiring an additional 70,882 shares during the period. Doyle Wealth Management raised its stake in J P Morgan Chase & Co by 1.1% in the 2nd quarter. Doyle Wealth Management now owns 175,460 shares of the financial services provider’s stock valued at $16,037,000 after acquiring an additional 1,988 shares during the period. Finally, Manning & Napier Advisors LLC raised its stake in J P Morgan Chase & Co by 19.3% in the 2nd quarter. Manning & Napier Advisors LLC now owns 389,834 shares of the financial services provider’s stock valued at $35,629,000 after acquiring an additional 63,157 shares during the period. Institutional investors and hedge funds own 77.89% of the company’s stock.

ILLEGAL ACTIVITY WARNING: “Investors Buy J P Morgan Chase & Co (JPM) on Weakness” was first posted by Week Herald and is owned by of Week Herald. If you are reading this news story on another domain, it was stolen and reposted in violation of US & international trademark & copyright law. The original version of this news story can be accessed at https://weekherald.com/2017/10/11/investors-buy-j-p-morgan-chase-co-jpm-on-weakness.html.

About J P Morgan Chase & Co

JPMorgan Chase & Co is a financial holding company. The Company is engaged in investment banking, financial services. It operates in four segments, as well as a Corporate segment. Its segments are Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking and Asset Management. The Consumer & Community Banking segment offers services to consumers and businesses through bank branches, automatic teller machines (ATMs), online, mobile and telephone banking.

Receive News & Ratings for J P Morgan Chase & Co Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for J P Morgan Chase & Co and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply