JPMorgan Chase & Co. (NYSE:JPM) Trading Down 1.5% – Here’s Why

Shares of JPMorgan Chase & Co. (NYSE:JPM) fell 1.5% during trading on Friday . The stock traded as low as $239.25 and last traded at $239.45. 3,369,940 shares changed hands during mid-day trading, a decline of 59% from the average session volume of 8,165,853 shares. The stock had previously closed at $243.13.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on JPM. Royal Bank of Canada boosted their target price on shares of JPMorgan Chase & Co. from $211.00 to $230.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Baird R W cut shares of JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 7th. Oppenheimer downgraded JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 20th. Morgan Stanley downgraded shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and upped their price target for the stock from $220.00 to $224.00 in a research report on Monday, September 30th. Finally, Barclays boosted their price target on shares of JPMorgan Chase & Co. from $257.00 to $304.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. 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 company’s stock. According to MarketBeat, JPMorgan Chase & Co. presently has a consensus rating of “Hold” and a consensus target price of $245.83.

JPMorgan Chase & Co. Price 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 stock has a market capitalization of $675.74 billion, a price-to-earnings ratio of 13.36, a price-to-earnings-growth ratio of 3.54 and a beta of 1.11. The company’s 50 day moving average is $241.59 and its 200 day moving average is $222.70.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.02 by $0.35. JPMorgan Chase & Co. had a net margin of 19.64% and a return on equity of 16.71%. The business had revenue of $43.32 billion for the quarter, compared to analyst estimates of $41.43 billion. During the same period in the previous year, the business posted $4.33 earnings per share. The business’s revenue was up 6.5% compared to the same quarter last year. Research analysts anticipate that JPMorgan Chase & Co. will post 17.62 EPS for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, January 6th will be issued a dividend of $1.25 per share. The ex-dividend date is Monday, January 6th. This represents a $5.00 annualized dividend and a yield of 2.08%. JPMorgan Chase & Co.’s dividend payout ratio is presently 27.82%.

Institutional Trading of JPMorgan Chase & Co.

Several institutional investors and hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. boosted its stake in shares of JPMorgan Chase & Co. by 7.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,450,775 shares of the financial services provider’s stock worth $938,491,000 after purchasing an additional 319,730 shares during the last quarter. Sageworth Trust Co boosted its position in JPMorgan Chase & Co. by 37.9% during the third quarter. Sageworth Trust Co now owns 2,860 shares of the financial services provider’s stock worth $603,000 after acquiring an additional 786 shares during the last quarter. Kingsview Wealth Management LLC raised its holdings in JPMorgan Chase & Co. by 2.5% in the 3rd quarter. Kingsview Wealth Management LLC now owns 118,095 shares of the financial services provider’s stock valued at $24,902,000 after acquiring an additional 2,839 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of JPMorgan Chase & Co. by 16.0% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 692,809 shares of the financial services provider’s stock worth $143,594,000 after purchasing an additional 95,461 shares during the period. Finally, Zions Bancorporation N.A. lifted its position in JPMorgan Chase & Co. by 2.5% during the third quarter. Zions Bancorporation N.A. now owns 11,157 shares of the financial services provider’s stock worth $2,353,000 after buying an additional 267 shares during the period. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

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.