.jpg)
JPMorgan (JPM, Financial) has increased its quarterly dividend to 50 cents from 48 cents. The dividend has an ex-dividend date of April 4. With the dividend the stock now has a forward dividend yield of 2.30%.
Year to date JPMorgan has a return of 0.86%. Its 12-month return is 46.32%, and its three-year return is 44.64%. It has benefited from a positive outlook on regulations for the banking industry and increasing Federal Reserve interest rates. Momentum has slowed recently with uncertainty around the Trump administration’s new policy proposals for financial services following a lack of support for health care reform.
Earnings for the company have also been a catalyst for the stock’s gains. In its most recent earnings report on Jan. 13, the company released financial details on its fourth quarter and full year of 2016. Fourth-quarter revenue was $24.3 billion, beating estimates by $380 million and increasing 2.4% from the comparable quarter. Earnings per share for the quarter were $1.71, beating estimates by 27 cents and increasing by 27%.
For the full year of 2016, revenue was $99.14 billion, increasing 3% from $96.63 billion in 2015. Earnings per share for the year were $6.19, increasing 3% from $6.00 in 2015.
Institutional shareholders continue to hold the majority of JPMorgan’s shares with 70% ownership. The company’s top institutional shareholder is Vanguard with 6.53% of the outstanding shares. Hedge fund managers also actively own the stock with top shareholders including Dodge & Cox with 0.75% and Barrow, Hanley, Mewhinney & Strauss with 0.62%.
Disclosure: I do not own any shares of JPMorgan.
Start a free seven-day trial of Premium Membership to GuruFocus.
