JPMorgan Chase & Co. (NYSE:JPM) Shares Down 0.8% – Here’s What Happened

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

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on JPM. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $235.00 price target on shares of JPMorgan Chase & Co. in a research note on Tuesday, September 3rd. Morgan Stanley downgraded shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and upped their target price for the company from $220.00 to $224.00 in a research report on Monday, September 30th. Keefe, Bruyette & Woods lifted their price target on shares of JPMorgan Chase & Co. from $216.00 to $254.00 and gave the stock a “market perform” rating in a research report on Tuesday, December 3rd. Piper Sandler increased their price objective on shares of JPMorgan Chase & Co. from $240.00 to $275.00 and gave the company an “overweight” rating in a report on Tuesday, December 3rd. Finally, Barclays lifted their target price on shares of JPMorgan Chase & Co. from $217.00 to $257.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, JPMorgan Chase & Co. currently has a consensus rating of “Hold” and a consensus target price of $234.81.

JPMorgan Chase & Co. Stock Performance

The stock has a market cap of $655.86 billion, a P/E ratio of 12.96, a price-to-earnings-growth ratio of 3.54 and a beta of 1.11. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.89 and a quick ratio of 0.89. The stock’s 50 day simple moving average is $235.56 and its two-hundred day simple moving average is $217.52.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings data on Friday, October 11th. The financial services provider reported $4.37 EPS for the quarter, topping 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 net margin of 19.64% and a return on equity of 16.71%. The firm’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period last year, the business posted $4.33 earnings per share. As a group, research analysts forecast that JPMorgan Chase & Co. will post 17.62 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, January 6th will be given a dividend of $1.25 per share. The ex-dividend date is Monday, January 6th. This represents a $5.00 annualized dividend and a dividend yield of 2.15%. JPMorgan Chase & Co.’s dividend payout ratio is currently 27.82%.

Institutional Investors Weigh In On JPMorgan Chase & Co.

A number of hedge funds and other institutional investors have recently bought and sold shares of JPM. Independent Solutions Wealth Management LLC grew its holdings in shares of JPMorgan Chase & Co. by 3.2% in the 3rd quarter. Independent Solutions Wealth Management LLC now owns 8,862 shares of the financial services provider’s stock valued at $1,869,000 after acquiring an additional 275 shares in the last quarter. SMART Wealth LLC boosted its position in JPMorgan Chase & Co. by 171.2% during the third quarter. SMART Wealth LLC now owns 3,938 shares of the financial services provider’s stock valued at $830,000 after purchasing an additional 2,486 shares during the last quarter. Legacy Wealth Management LLC MS grew its stake in JPMorgan Chase & Co. by 3.9% in the third quarter. Legacy Wealth Management LLC MS now owns 13,168 shares of the financial services provider’s stock valued at $2,777,000 after purchasing an additional 500 shares in the last quarter. DGS Capital Management LLC acquired a new position in shares of JPMorgan Chase & Co. during the 3rd quarter worth approximately $208,000. Finally, Garden State Investment Advisory Services LLC raised its stake in shares of JPMorgan Chase & Co. by 2.3% during the 3rd quarter. Garden State Investment Advisory Services LLC now owns 4,189 shares of the financial services provider’s stock worth $887,000 after purchasing an additional 96 shares in the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

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.