JPMorgan Chase & Co. (NYSE:JPM) Trading Down 0.3% – Here’s Why

JPMorgan Chase & Co. (NYSE:JPM)’s share price dropped 0.3% on Wednesday . The company traded as low as $221.04 and last traded at $221.76. Approximately 1,371,476 shares were traded during trading, a decline of 85% from the average daily volume of 9,110,465 shares. The stock had previously closed at $222.39.

Wall Street Analyst Weigh In

JPM has been the subject of a number of research reports. Keefe, Bruyette & Woods increased their target price on shares of JPMorgan Chase & Co. from $209.00 to $211.00 and gave the company a “market perform” rating in a research report on Tuesday, July 9th. Wolfe Research downgraded shares of JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a research report on Monday, July 8th. Oppenheimer reduced their target price on shares of JPMorgan Chase & Co. from $234.00 to $232.00 and set an “outperform” rating for the company in a research report on Monday. Piper Sandler increased their target price on shares of JPMorgan Chase & Co. from $220.00 to $230.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $235.00 target price on shares of JPMorgan Chase & Co. in a research report on Tuesday, September 3rd. Nine analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $217.94.

JPMorgan Chase & Co. Stock Up 0.5 %

The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.91 and a current ratio of 0.91. The firm has a market capitalization of $647.85 billion, a PE ratio of 12.57, a PEG ratio of 3.28 and a beta of 1.11. The company’s 50 day simple moving average is $213.63 and its 200-day simple moving average is $204.31.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data on Friday, October 11th. The financial services provider reported $4.37 earnings per share for the quarter, beating the consensus estimate of $4.02 by $0.35. The firm had revenue of $43.32 billion for the quarter, compared to analysts’ expectations of $41.43 billion. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.26%. The business’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter last year, the company posted $4.33 EPS. On average, analysts forecast that JPMorgan Chase & Co. will post 16.75 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 4th will be given a dividend of $1.25 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $5.00 annualized dividend and a dividend yield of 2.22%. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 27.89%.

Institutional Trading of JPMorgan Chase & Co.

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Cooper Financial Group grew its holdings in shares of JPMorgan Chase & Co. by 12.8% during the 1st quarter. Cooper Financial Group now owns 8,693 shares of the financial services provider’s stock valued at $1,741,000 after purchasing an additional 984 shares during the last quarter. jvl associates llc increased its holdings in shares of JPMorgan Chase & Co. by 59.8% in the first quarter. jvl associates llc now owns 1,911 shares of the financial services provider’s stock worth $383,000 after buying an additional 715 shares during the period. Rowlandmiller & PARTNERS.ADV increased its holdings in shares of JPMorgan Chase & Co. by 1.3% in the first quarter. Rowlandmiller & PARTNERS.ADV now owns 25,963 shares of the financial services provider’s stock worth $5,201,000 after buying an additional 330 shares during the period. Aspiriant LLC lifted its stake in shares of JPMorgan Chase & Co. by 1.1% in the 1st quarter. Aspiriant LLC now owns 29,728 shares of the financial services provider’s stock valued at $5,955,000 after acquiring an additional 320 shares during the last quarter. Finally, BCGM Wealth Management LLC boosted its holdings in JPMorgan Chase & Co. by 2.8% during the 1st quarter. BCGM Wealth Management LLC now owns 19,061 shares of the financial services provider’s stock valued at $3,818,000 after acquiring an additional 516 shares during the period. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Company Profile

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, investment and lending products, cash management, and payments and services; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.