JPMorgan Chase & Co. (NYSE:JPM) Trading Down 7.2% Following Analyst Downgrade

JPMorgan Chase & Co. (NYSE:JPM) fell 7.2% during trading on Thursday after Bank of America lowered their price target on the stock from $285.00 to $284.00. Bank of America currently has a buy rating on the stock. JPMorgan Chase & Co. traded as low as $227.30 and last traded at $228.09. 6,237,244 shares traded hands during mid-day trading, a decline of 33% from the average session volume of 9,356,802 shares. The stock had previously closed at $245.82.

JPM has been the topic of several other research reports. Keefe, Bruyette & Woods boosted their price target on JPMorgan Chase & Co. from $257.00 to $264.00 and gave the stock a “market perform” rating in a research note on Thursday, January 16th. UBS Group boosted their target price on JPMorgan Chase & Co. from $276.00 to $287.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Evercore ISI dropped their price target on JPMorgan Chase & Co. from $273.00 to $265.00 and set an “outperform” rating for the company in a research report on Tuesday. Truist Financial boosted their price objective on shares of JPMorgan Chase & Co. from $260.00 to $268.00 and gave the stock a “hold” rating in a research report on Thursday, January 16th. Finally, Barclays raised their target price on shares of JPMorgan Chase & Co. from $304.00 to $330.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Ten research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, JPMorgan Chase & Co. has a consensus rating of “Moderate Buy” and an average target price of $255.06.

Insider Transactions at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, CEO Troy L. Rohrbaugh sold 37,500 shares of the company’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $269.84, for a total transaction of $10,119,000.00. Following the completion of the sale, the chief executive officer now directly owns 158,381 shares in the company, valued at $42,737,529.04. This represents a 19.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Robin Leopold sold 1,250 shares of the firm’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $246.92, for a total value of $308,650.00. Following the completion of the transaction, the insider now owns 49,127 shares in the company, valued at approximately $12,130,438.84. This trade represents a 2.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 76,848 shares of company stock worth $19,987,908 in the last ninety days. Insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On JPMorgan Chase & Co.

Large investors have recently made changes to their positions in the business. Redwood Park Advisors LLC acquired a new stake in JPMorgan Chase & Co. in the 4th quarter valued at $29,000. Sellwood Investment Partners LLC acquired a new position in shares of JPMorgan Chase & Co. during the fourth quarter worth about $34,000. Investment Counsel Co. of Nevada purchased a new stake in shares of JPMorgan Chase & Co. in the fourth quarter worth about $37,000. Midwest Capital Advisors LLC acquired a new stake in shares of JPMorgan Chase & Co. in the fourth quarter valued at about $43,000. Finally, Prudent Man Investment Management Inc. purchased a new stake in shares of JPMorgan Chase & Co. during the 4th quarter valued at about $43,000. Institutional investors and hedge funds own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Down 6.8 %

The stock has a market capitalization of $640.36 billion, a price-to-earnings ratio of 11.60, a price-to-earnings-growth ratio of 2.83 and a beta of 1.10. The firm has a 50-day moving average of $256.54 and a 200 day moving average of $241.36. The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.24.

JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results on Wednesday, January 15th. The financial services provider reported $4.81 EPS for the quarter, topping analysts’ consensus estimates of $4.03 by $0.78. The business had revenue of $42.77 billion for the quarter, compared to analysts’ expectations of $41.90 billion. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The business’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same period in the previous year, the company posted $3.04 earnings per share. On average, sell-side analysts anticipate that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Friday, April 4th will be paid a dividend of $1.40 per share. The ex-dividend date is Friday, April 4th. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. This represents a $5.60 annualized dividend and a dividend yield of 2.45%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 28.37%.

JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.