JPMorgan Chase & Co. (NYSE:JPM) to Post FY2023 Earnings of $13.01 Per Share, Oppenheimer Forecasts

JPMorgan Chase & Co. (NYSE:JPMGet Rating) – Analysts at Oppenheimer lowered their FY2023 EPS estimates for shares of JPMorgan Chase & Co. in a report released on Thursday, November 17th. Oppenheimer analyst C. Kotowski now expects that the financial services provider will earn $13.01 per share for the year, down from their previous estimate of $13.15. The consensus estimate for JPMorgan Chase & Co.’s current full-year earnings is $11.72 per share.

Several other equities analysts also recently commented on the stock. UBS Group set a $124.00 price target on shares of JPMorgan Chase & Co. in a report on Tuesday, October 18th. Morgan Stanley dropped their target price on shares of JPMorgan Chase & Co. from $127.00 to $126.00 and set an “underweight” rating on the stock in a research note on Wednesday, October 5th. Credit Suisse Group set a $145.00 target price on shares of JPMorgan Chase & Co. in a research note on Tuesday, November 8th. Jefferies Financial Group set a $117.00 target price on shares of JPMorgan Chase & Co. in a research note on Monday, September 12th. Finally, BMO Capital Markets upped their target price on shares of JPMorgan Chase & Co. from $149.00 to $158.00 and gave the stock a “market perform” rating in a research note on Monday, October 17th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $144.90.

JPMorgan Chase & Co. Stock Performance

Shares of NYSE:JPM opened at $133.84 on Monday. The company has a market capitalization of $392.58 billion, a price-to-earnings ratio of 11.30, a PEG ratio of 2.28 and a beta of 1.14. JPMorgan Chase & Co. has a 12 month low of $101.28 and a 12 month high of $169.81. The firm’s 50-day moving average is $118.80 and its 200 day moving average is $118.31. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.13.

JPMorgan Chase & Co. (NYSE:JPMGet Rating) last announced its earnings results on Friday, October 14th. The financial services provider reported $3.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.95 by $0.17. The firm had revenue of $32.72 billion for the quarter, compared to analysts’ expectations of $31.88 billion. JPMorgan Chase & Co. had a net margin of 26.85% and a return on equity of 14.52%. The business’s revenue was up 10.4% compared to the same quarter last year. During the same period in the prior year, the company earned $3.74 EPS.

JPMorgan Chase & Co. Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, October 31st. Shareholders of record on Thursday, October 6th were issued a $1.00 dividend. The ex-dividend date was Wednesday, October 5th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.99%. JPMorgan Chase & Co.’s dividend payout ratio is currently 33.78%.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, Vice Chairman Peter Scher sold 1,310 shares of the firm’s stock in a transaction on Wednesday, October 26th. The shares were sold at an average price of $125.02, for a total value of $163,776.20. Following the completion of the transaction, the insider now owns 34,973 shares of the company’s stock, valued at $4,372,324.46. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, Vice Chairman Peter Scher sold 1,310 shares of the stock in a transaction on Wednesday, October 26th. The shares were sold at an average price of $125.02, for a total value of $163,776.20. Following the sale, the insider now owns 34,973 shares in the company, valued at $4,372,324.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Robin Leopold sold 2,000 shares of the stock in a transaction on Wednesday, October 26th. The stock was sold at an average price of $125.07, for a total transaction of $250,140.00. Following the completion of the sale, the insider now owns 19,031 shares in the company, valued at approximately $2,380,207.17. The disclosure for this sale can be found here. Over the last quarter, insiders sold 41,964 shares of company stock valued at $4,936,426. Insiders own 0.79% of the company’s stock.

Institutional Trading of JPMorgan Chase & Co.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Dravo Bay LLC acquired a new stake in JPMorgan Chase & Co. during the first quarter valued at $26,000. Grayhawk Investment Strategies Inc. acquired a new stake in JPMorgan Chase & Co. during the second quarter valued at $32,000. HBC Financial Services PLLC grew its position in JPMorgan Chase & Co. by 61.2% during the second quarter. HBC Financial Services PLLC now owns 237 shares of the financial services provider’s stock valued at $27,000 after buying an additional 90 shares during the period. Advanced Research Investment Solutions LLC grew its position in JPMorgan Chase & Co. by 118.2% during the first quarter. Advanced Research Investment Solutions LLC now owns 288 shares of the financial services provider’s stock valued at $39,000 after buying an additional 156 shares during the period. Finally, Financial Connections Group Inc. grew its position in JPMorgan Chase & Co. by 48.5% during the second quarter. Financial Connections Group Inc. now owns 306 shares of the financial services provider’s stock valued at $34,000 after buying an additional 100 shares during the period. Institutional investors and hedge funds own 68.57% of the company’s stock.

JPMorgan Chase & Co. Company Profile

(Get Rating)

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 s deposit, investment and lending products, payments, 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, auto loan, and leasing services.

Featured Stories

Earnings History and Estimates for JPMorgan Chase & Co. (NYSE:JPM)

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.