JPMorgan Chase & Co. (NYSE:JPM) Shares Down 0.1% – Here’s What Happened

JPMorgan Chase & Co. (NYSE:JPM) was down 0.1% during trading on Thursday . The stock traded as low as $240.50 and last traded at $243.03. Approximately 8,671,845 shares changed hands during mid-day trading, a decline of 6% from the average daily volume of 9,210,940 shares. The stock had previously closed at $243.17.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Baird R W cut JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 7th. Bank of America raised their price target on JPMorgan Chase & Co. from $260.00 to $280.00 and gave the company a “buy” rating in a report on Tuesday. Evercore ISI raised their price objective on shares of JPMorgan Chase & Co. from $217.00 to $230.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Royal Bank of Canada upped their price target on JPMorgan Chase & Co. from $211.00 to $230.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Finally, Piper Sandler raised their target price on shares of JPMorgan Chase & Co. from $240.00 to $275.00 and gave the stock an “overweight” rating in a report on Tuesday, December 3rd. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $245.83.

JPMorgan Chase & Co. Stock Performance

The firm’s 50-day simple moving average is $240.83 and its 200-day simple moving average is $222.10. 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 company has a market capitalization of $684.21 billion, a PE ratio of 13.52, a PEG ratio of 3.54 and a beta of 1.11.

JPMorgan Chase & Co. (NYSE:JPM) last issued its earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $41.43 billion. During the same period in the prior year, the business earned $4.33 EPS. The business’s revenue for the quarter was up 6.5% compared to the same quarter last year. On average, research analysts predict that JPMorgan Chase & Co. will post 17.62 earnings per share for the current year.

JPMorgan Chase & Co. Dividend Announcement

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 paid a dividend of $1.25 per share. The ex-dividend date of this dividend is Monday, January 6th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.06%. JPMorgan Chase & Co.’s dividend payout ratio is presently 27.82%.

Institutional Investors Weigh In On JPMorgan Chase & Co.

A number of hedge funds have recently made changes to their positions in JPM. Mizuho Securities Co. Ltd. acquired a new position in JPMorgan Chase & Co. in the third quarter valued at approximately $25,000. Catalyst Capital Advisors LLC acquired a new stake in shares of JPMorgan Chase & Co. in the 3rd quarter worth $27,000. Fairway Wealth LLC purchased a new position in shares of JPMorgan Chase & Co. during the 2nd quarter worth $32,000. West Financial Advisors LLC acquired a new position in shares of JPMorgan Chase & Co. during the 3rd quarter valued at about $37,000. Finally, New England Capital Financial Advisors LLC grew its holdings in shares of JPMorgan Chase & Co. by 38.5% in the third quarter. New England Capital Financial Advisors LLC now owns 180 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 50 shares during the period. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

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.