JPMorgan Chase & Co. (NYSE:JPM) Shares Down 1% – Here’s Why

JPMorgan Chase & Co. (NYSE:JPM)’s stock price fell 1% during mid-day trading on Monday . The company traded as low as $234.88 and last traded at $235.22. 2,322,878 shares changed hands during mid-day trading, a decline of 74% from the average session volume of 9,077,281 shares. The stock had previously closed at $237.60.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Baird R W lowered JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 7th. Piper Sandler boosted their price target on shares of JPMorgan Chase & Co. from $240.00 to $275.00 and gave the stock an “overweight” rating in a report on Tuesday, December 3rd. Daiwa Capital Markets decreased their price objective on shares of JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating for the company in a research report on Thursday, October 10th. Wells Fargo & Company raised their price target on JPMorgan Chase & Co. from $240.00 to $270.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Finally, Morgan Stanley lowered JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and raised their target price for the stock from $220.00 to $224.00 in a research report on Monday, September 30th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $234.81.

JPMorgan Chase & Co. Stock Performance

The stock has a 50 day moving average of $236.27 and a two-hundred day moving average of $218.01. The stock has a market capitalization of $668.53 billion, a PE ratio of 13.21, a P/E/G 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 announced its quarterly earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to the consensus estimate of $41.43 billion. During the same quarter last year, the firm posted $4.33 EPS. The business’s revenue was up 6.5% compared to the same quarter last year. Research analysts expect that JPMorgan Chase & Co. will post 17.62 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, January 6th will be issued a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 2.11%. The ex-dividend date is Monday, January 6th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 27.82%.

Institutional Investors Weigh In On JPMorgan Chase & Co.

Large investors have recently added to or reduced their stakes in the business. Independent Solutions Wealth Management LLC raised its position in shares of JPMorgan Chase & Co. by 3.2% in the third quarter. Independent Solutions Wealth Management LLC now owns 8,862 shares of the financial services provider’s stock valued at $1,869,000 after buying an additional 275 shares during the last quarter. SMART Wealth LLC grew its stake in JPMorgan Chase & Co. by 171.2% in the 3rd quarter. SMART Wealth LLC now owns 3,938 shares of the financial services provider’s stock worth $830,000 after acquiring an additional 2,486 shares during the period. Legacy Wealth Management LLC MS grew its stake in JPMorgan Chase & Co. by 3.9% in the 3rd quarter. Legacy Wealth Management LLC MS now owns 13,168 shares of the financial services provider’s stock worth $2,777,000 after acquiring an additional 500 shares during the period. DGS Capital Management LLC acquired a new position in JPMorgan Chase & Co. in the 3rd quarter valued at $208,000. Finally, Garden State Investment Advisory Services LLC lifted 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 during the period. 71.55% of the stock is owned by institutional investors and hedge funds.

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.