JPMorgan Chase & Co. (NYSE:JPM) Stock Price Down 0.8% – Here’s Why

JPMorgan Chase & Co. (NYSE:JPM) shares dropped 0.8% during trading on Tuesday . The company traded as low as $236.83 and last traded at $237.59. Approximately 1,644,245 shares traded hands during trading, a decline of 82% from the average daily volume of 8,962,243 shares. The stock had previously closed at $239.58.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on JPM shares. Baird R W cut JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 7th. Evercore ISI increased their price objective on JPMorgan Chase & Co. from $217.00 to $230.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Morgan Stanley cut JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and increased their price objective for the stock from $220.00 to $224.00 in a research note on Monday, September 30th. Piper Sandler increased their price objective on JPMorgan Chase & Co. from $240.00 to $275.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 3rd. Finally, Wells Fargo & Company increased their price objective on JPMorgan Chase & Co. from $240.00 to $270.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $234.81.

JPMorgan Chase & Co. Price Performance

The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.27. The firm has a market cap of $669.54 billion, a P/E ratio of 13.21, a PEG ratio of 3.54 and a beta of 1.11. The firm has a 50-day simple moving average of $234.67 and a 200-day simple moving average of $217.18.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.02 by $0.35. JPMorgan Chase & Co. had a return on equity of 16.71% and a net margin of 19.64%. The business had revenue of $43.32 billion for the quarter, compared to analysts’ expectations of $41.43 billion. During the same quarter last year, the firm earned $4.33 EPS. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. As a group, analysts forecast that JPMorgan Chase & Co. will post 17.62 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, January 6th will be issued a dividend of $1.25 per share. The ex-dividend date of this dividend is Monday, January 6th. This represents a $5.00 annualized dividend and a dividend yield of 2.10%. JPMorgan Chase & Co.’s dividend payout ratio is presently 27.82%.

Institutional Trading of JPMorgan Chase & Co.

Several hedge funds and other institutional investors have recently made changes to their positions in JPM. International Assets Investment Management LLC purchased a new stake in shares of JPMorgan Chase & Co. during the 3rd quarter valued at $1,888,088,000. Fisher Asset Management LLC lifted its holdings in shares of JPMorgan Chase & Co. by 31.7% during the 3rd quarter. Fisher Asset Management LLC now owns 16,784,272 shares of the financial services provider’s stock valued at $3,539,132,000 after purchasing an additional 4,043,841 shares during the last quarter. Wulff Hansen & CO. raised its stake in JPMorgan Chase & Co. by 19,920.7% in the 2nd quarter. Wulff Hansen & CO. now owns 2,801,503 shares of the financial services provider’s stock worth $566,632,000 after acquiring an additional 2,787,510 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its stake in JPMorgan Chase & Co. by 137.8% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,376,176 shares of the financial services provider’s stock worth $922,760,000 after acquiring an additional 2,535,590 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec raised its stake in JPMorgan Chase & Co. by 93.6% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,692,159 shares of the financial services provider’s stock worth $567,669,000 after acquiring an additional 1,301,764 shares during the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

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.