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

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

Analyst Ratings Changes

A number of analysts have recently weighed in on JPM shares. Wells Fargo & Company boosted their target price on shares of JPMorgan Chase & Co. from $240.00 to $270.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Evercore ISI upped their price objective on JPMorgan Chase & Co. from $217.00 to $230.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $235.00 price objective on shares of JPMorgan Chase & Co. in a research note on Tuesday, September 3rd. Robert W. Baird downgraded JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 target price on the stock. in a research report on Thursday, November 7th. Finally, Oppenheimer downgraded JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a research report on Wednesday. Two analysts have rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, JPMorgan Chase & Co. presently has an average rating of “Hold” and an average target price of $229.31.

JPMorgan Chase & Co. Stock 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 company has a market cap of $690.24 billion, a PE ratio of 13.64, a P/E/G ratio of 3.53 and a beta of 1.10. The firm’s 50-day simple moving average is $222.25 and its two-hundred day simple moving average is $211.36.

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 analysts’ consensus estimates of $4.02 by $0.35. The business had revenue of $43.32 billion for the quarter, compared to analyst estimates 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 revenue was up 6.5% on a year-over-year basis. During the same period in the prior year, the company earned $4.33 earnings per share. As a group, research analysts anticipate that JPMorgan Chase & Co. will post 17.62 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed 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 annualized dividend and a dividend yield of 2.04%. The ex-dividend date of this dividend was Friday, October 4th. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s payout ratio is 27.82%.

Institutional Trading of JPMorgan Chase & Co.

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

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.