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

Shares of JPMorgan Chase & Co. (NYSE:JPM) fell 0.5% during trading on Thursday . The stock traded as low as $223.32 and last traded at $223.34. 1,367,685 shares changed hands during mid-day trading, a decline of 85% from the average session volume of 8,988,057 shares. The stock had previously closed at $224.41.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on JPM. Morgan Stanley lowered shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and upped their price objective for the stock from $220.00 to $224.00 in a report on Monday, September 30th. Oppenheimer decreased their price objective on shares of JPMorgan Chase & Co. from $234.00 to $232.00 and set an “outperform” rating on the stock in a report on Monday, October 14th. StockNews.com upgraded shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a report on Saturday, July 13th. Wolfe Research downgraded shares of JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a research note on Monday, July 8th. Finally, Wells Fargo & Company upped their target price on shares of JPMorgan Chase & Co. from $220.00 to $225.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th. Nine research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $217.94.

JPMorgan Chase & Co. Stock Performance

The stock’s 50-day simple moving average is $216.15 and its 200 day simple moving average is $206.54. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.91 and a current ratio of 0.89. The company has a market capitalization of $634.30 billion, a PE ratio of 12.41, a P/E/G ratio of 3.28 and a beta of 1.11.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data on Friday, October 11th. The financial services provider reported $4.37 EPS for the quarter, beating analysts’ consensus estimates of $4.02 by $0.35. The company had revenue of $43.32 billion for the quarter, compared to the consensus estimate of $41.43 billion. JPMorgan Chase & Co. had a net margin of 19.64% and a return on equity of 16.71%. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.33 EPS. As a group, research analysts expect that JPMorgan Chase & Co. will post 17.52 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 4th were given a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.24%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date of this dividend was Friday, October 4th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 27.82%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of JPM. BKM Wealth Management LLC boosted its stake in JPMorgan Chase & Co. by 2.1% during the 1st quarter. BKM Wealth Management LLC now owns 14,660 shares of the financial services provider’s stock worth $2,936,000 after purchasing an additional 297 shares during the period. Horizon Wealth Management LLC boosted its stake in JPMorgan Chase & Co. by 3.6% during the 1st quarter. Horizon Wealth Management LLC now owns 5,028 shares of the financial services provider’s stock worth $1,007,000 after purchasing an additional 173 shares during the period. Kowal Investment Group LLC boosted its stake in JPMorgan Chase & Co. by 4.3% during the 1st quarter. Kowal Investment Group LLC now owns 9,996 shares of the financial services provider’s stock worth $2,002,000 after purchasing an additional 411 shares during the period. Little House Capital LLC boosted its stake in JPMorgan Chase & Co. by 9.0% during the 1st quarter. Little House Capital LLC now owns 34,192 shares of the financial services provider’s stock worth $6,849,000 after purchasing an additional 2,821 shares during the period. Finally, Miracle Mile Advisors LLC boosted its stake in JPMorgan Chase & Co. by 3.4% during the 1st quarter. Miracle Mile Advisors LLC now owns 62,615 shares of the financial services provider’s stock worth $12,542,000 after purchasing an additional 2,086 shares during the period. 71.55% of the stock is 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.