JPMorgan Chase & Co. (NYSE:JPM) announced a quarterly dividend on Wednesday, May 16th, Wall Street Journal reports. Stockholders of record on Friday, July 6th will be given a dividend of 0.56 per share by the financial services provider on Tuesday, July 31st. This represents a $2.24 annualized dividend and a dividend yield of 2.16%. The ex-dividend date is Thursday, July 5th.

JPMorgan Chase & Co. has increased its dividend payment by an average of 9.4% annually over the last three years and has increased its dividend annually for the last 7 consecutive years. JPMorgan Chase & Co. has a payout ratio of 32.5% meaning its dividend is sufficiently covered by earnings. Analysts expect JPMorgan Chase & Co. to earn $9.82 per share next year, which means the company should continue to be able to cover its $2.24 annual dividend with an expected future payout ratio of 22.8%.

JPMorgan Chase & Co. opened at $103.61 on Wednesday, MarketBeat Ratings reports. JPMorgan Chase & Co. has a 52-week low of $88.08 and a 52-week high of $119.33. The firm has a market capitalization of $360.63 billion, a PE ratio of 13.63, a price-to-earnings-growth ratio of 1.75 and a beta of 1.20. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.19.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings data on Friday, April 13th. The financial services provider reported $2.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.28 by $0.09. JPMorgan Chase & Co. had a net margin of 22.53% and a return on equity of 12.60%. The company had revenue of $27.90 billion during the quarter, compared to analyst estimates of $27.73 billion. During the same quarter in the prior year, the business earned $1.65 earnings per share. The business’s quarterly revenue was up 12.0% compared to the same quarter last year. research analysts anticipate that JPMorgan Chase & Co. will post 9.03 EPS for the current fiscal year.

In related news, Director Todd A. Combs acquired 13,000 shares of the firm’s stock in a transaction on Monday, May 14th. The stock was bought at an average cost of $114.61 per share, with a total value of $1,489,930.00. Following the acquisition, the director now directly owns 18,277 shares in the company, valued at $2,094,726.97. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Chase & Co Jpmorgan acquired 22,000 shares of the firm’s stock in a transaction on Thursday, May 31st. The shares were bought at an average cost of $1,000.00 per share, with a total value of $22,000,000.00. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 53,000 shares of company stock valued at $25,488,830. 0.73% of the stock is owned by company insiders.

A hedge fund recently bought a new stake in JPMorgan Chase & Co. stock. Financial Gravity Wealth Inc. acquired a new position in shares of JPMorgan Chase & Co. (NYSE:JPM) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 1,394 shares of the financial services provider’s stock, valued at approximately $150,000. 72.01% of the stock is currently owned by institutional investors and hedge funds.

JPM has been the subject of several recent research reports. Morgan Stanley dropped their price objective on shares of JPMorgan Chase & Co. from $138.00 to $135.00 and set an “overweight” rating for the company in a research report on Monday, April 30th. BMO Capital Markets reissued a “hold” rating and issued a $110.00 price objective on shares of JPMorgan Chase & Co. in a research report on Friday, April 13th. Edward Jones raised shares of JPMorgan Chase & Co. from a “hold” rating to a “buy” rating in a research report on Thursday, March 22nd. Vetr lowered shares of JPMorgan Chase & Co. from a “strong-buy” rating to a “buy” rating and set a $123.29 price objective for the company. in a research report on Thursday, April 5th. Finally, ValuEngine lowered shares of JPMorgan Chase & Co. from a “buy” rating to a “hold” rating in a research report on Monday, April 2nd. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and fourteen have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $114.06.

About JPMorgan Chase & Co.

JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking, and Asset & Wealth Management. The Consumer & Community Banking segment offers deposit and investment products and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; residential mortgages and home equity loans; and credit cards, payment processing services, auto loans and leases.

Dividend History for JPMorgan Chase & Co. (NYSE:JPM)

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