JPMorgan Chase & Co. (NYSE:JPM) Stock Price Down 1.3% – Here’s What Happened

JPMorgan Chase & Co. (NYSE:JPM)’s share price fell 1.3% during mid-day trading on Wednesday . The stock traded as low as $238.64 and last traded at $240.02. 2,263,022 shares were traded during mid-day trading, a decline of 75% from the average session volume of 9,069,489 shares. The stock had previously closed at $243.09.

Analyst Upgrades and Downgrades

JPM has been the topic of a number of recent analyst reports. Barclays increased their target price on shares of JPMorgan Chase & Co. from $217.00 to $257.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Evercore ISI lifted their target price on JPMorgan Chase & Co. from $217.00 to $230.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Citigroup upped their target price on JPMorgan Chase & Co. from $215.00 to $250.00 and gave the company a “neutral” rating in a research report on Tuesday. Daiwa Capital Markets cut their price target on JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating on the stock in a research report on Thursday, October 10th. Finally, Wells Fargo & Company increased their price objective on JPMorgan Chase & Co. from $240.00 to $270.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $229.31.

JPMorgan Chase & Co. Stock Down 1.2 %

The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.27. The stock has a market capitalization of $676.36 billion, a PE ratio of 13.30, a PEG ratio of 3.56 and a beta of 1.10. The firm’s fifty day moving average is $220.81 and its 200-day moving average is $210.92.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $43.32 billion for the quarter, compared to the consensus estimate of $41.43 billion. During the same period in the previous year, the business earned $4.33 earnings per share. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. On average, equities research analysts predict that JPMorgan Chase & Co. will post 17.62 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, October 4th were issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date was Friday, October 4th. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 27.82%.

Institutional Investors Weigh In On JPMorgan Chase & Co.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Financial Avengers Inc. grew its holdings in JPMorgan Chase & Co. by 5.2% during the third quarter. Financial Avengers Inc. now owns 868 shares of the financial services provider’s stock valued at $183,000 after purchasing an additional 43 shares during the period. One Charles Private Wealth Services LLC raised its stake in shares of JPMorgan Chase & Co. by 0.4% in the 3rd quarter. One Charles Private Wealth Services LLC now owns 12,179 shares of the financial services provider’s stock valued at $2,568,000 after purchasing an additional 44 shares during the period. Henrickson Nauta Wealth Advisors Inc. raised its position in JPMorgan Chase & Co. by 1.3% in the 3rd quarter. Henrickson Nauta Wealth Advisors Inc. now owns 3,436 shares of the financial services provider’s stock valued at $725,000 after buying an additional 45 shares during the last quarter. Sunburst Financial Group LLC lifted its position in shares of JPMorgan Chase & Co. by 0.8% in the third quarter. Sunburst Financial Group LLC now owns 5,696 shares of the financial services provider’s stock worth $1,201,000 after purchasing an additional 45 shares in the last quarter. Finally, West Wealth Group LLC lifted its position in JPMorgan Chase & Co. by 3.6% during the 3rd quarter. West Wealth Group LLC now owns 1,327 shares of the financial services provider’s stock worth $280,000 after buying an additional 46 shares in the last quarter. 71.55% of the stock is currently owned by institutional investors and hedge funds.

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.