JPMorgan Chase & Co. (NYSE:JPM) Stock Price Down 0.5% – Here’s What Happened

JPMorgan Chase & Co. (NYSE:JPM) was down 0.5% on Wednesday . The stock traded as low as $240.50 and last traded at $241.97. Approximately 2,295,230 shares changed hands during mid-day trading, a decline of 71% from the average daily volume of 7,883,929 shares. The stock had previously closed at $243.17.

Analysts Set New Price Targets

A number of research firms recently issued reports on JPM. Wolfe Research raised JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 target price on the stock in a research report on Friday, January 3rd. Oppenheimer cut shares of JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 20th. Morgan Stanley lowered shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and upped their price target for the stock from $220.00 to $224.00 in a research report on Monday, September 30th. Barclays lifted their price objective on shares of JPMorgan Chase & Co. from $257.00 to $304.00 and gave the company an “overweight” rating in a research report on Monday. Finally, Wells Fargo & Company lifted their price target on JPMorgan Chase & Co. from $240.00 to $270.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $245.83.

JPMorgan Chase & Co. Trading Down 1.3 %

The company has a debt-to-equity ratio of 1.27, a current ratio of 0.89 and a quick ratio of 0.89. The company has a market capitalization of $675.74 billion, a price-to-earnings ratio of 13.36, a P/E/G ratio of 3.54 and a beta of 1.11. The business’s 50-day moving average price is $241.59 and its two-hundred day moving average price is $222.53.

JPMorgan Chase & Co. (NYSE:JPM) last announced 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 during the quarter, compared to analysts’ expectations of $41.43 billion. JPMorgan Chase & Co. had a return on equity of 16.71% and a net margin of 19.64%. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.33 EPS. Research analysts predict that JPMorgan Chase & Co. will post 17.62 earnings per share for the current year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, January 6th will be given a dividend of $1.25 per share. The ex-dividend date is Monday, January 6th. This represents a $5.00 annualized dividend and a yield of 2.08%. JPMorgan Chase & Co.’s dividend payout ratio is 27.82%.

Hedge Funds Weigh In On JPMorgan Chase & Co.

Several hedge funds have recently bought and sold shares of the company. RMR Wealth Builders increased its stake in shares of JPMorgan Chase & Co. by 4.4% in the 4th quarter. RMR Wealth Builders now owns 33,057 shares of the financial services provider’s stock valued at $7,924,000 after purchasing an additional 1,382 shares during the last quarter. Lowe Wealth Advisors LLC grew its position in JPMorgan Chase & Co. by 34.0% in the fourth quarter. Lowe Wealth Advisors LLC now owns 201 shares of the financial services provider’s stock valued at $48,000 after acquiring an additional 51 shares during the last quarter. HBW Advisory Services LLC grew its position in JPMorgan Chase & Co. by 10.6% in the fourth quarter. HBW Advisory Services LLC now owns 4,925 shares of the financial services provider’s stock valued at $1,181,000 after acquiring an additional 473 shares during the last quarter. Harbor Capital Advisors Inc. raised its stake in JPMorgan Chase & Co. by 2.4% during the fourth quarter. Harbor Capital Advisors Inc. now owns 60,290 shares of the financial services provider’s stock worth $14,452,000 after acquiring an additional 1,429 shares in the last quarter. Finally, ST Germain D J Co. Inc. boosted its stake in shares of JPMorgan Chase & Co. by 0.7% in the 4th quarter. ST Germain D J Co. Inc. now owns 192,444 shares of the financial services provider’s stock valued at $46,131,000 after purchasing an additional 1,282 shares in the last quarter. 71.55% of the stock is owned by institutional investors.

About JPMorgan Chase & Co.

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.