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

Shares of JPMorgan Chase & Co. (NYSE:JPM) were down 0.5% during mid-day trading on Wednesday . The stock traded as low as $240.50 and last traded at $241.97. Approximately 2,295,230 shares changed hands during trading, a decline of 71% from the average daily volume of 7,883,929 shares. The stock had previously closed at $243.17.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on JPM. Daiwa Capital Markets decreased their price objective on shares of JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating on the stock in a research note on Thursday, October 10th. Truist Financial started coverage on JPMorgan Chase & Co. in a research report on Tuesday. They set a “hold” rating and a $260.00 price target on the stock. Evercore ISI boosted their price objective on JPMorgan Chase & Co. from $217.00 to $230.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Keefe, Bruyette & Woods raised their target price on JPMorgan Chase & Co. from $216.00 to $254.00 and gave the company a “market perform” rating in a research note on Tuesday, December 3rd. Finally, Citigroup upped their price target on shares of JPMorgan Chase & Co. from $215.00 to $250.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, JPMorgan Chase & Co. has a consensus rating of “Hold” and an average price target of $245.83.

JPMorgan Chase & Co. Trading Down 1.3 %

The business has a 50 day moving average of $241.59 and a 200 day moving average of $222.53. The firm has a market capitalization of $675.74 billion, a price-to-earnings ratio of 13.36, a PEG 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.

JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.02 by $0.35. The company had revenue of $43.32 billion during 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 for the quarter was up 6.5% compared to the same quarter last year. During the same period in the previous year, the company earned $4.33 EPS. As a group, research analysts predict that JPMorgan Chase & Co. will post 17.62 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

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. This represents a $5.00 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date is Monday, January 6th. JPMorgan Chase & Co.’s dividend payout ratio is currently 27.82%.

Institutional Investors Weigh In On JPMorgan Chase & Co.

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