JPMorgan Chase & Co. (NYSE:JPM) Shares Down 7.2% Following Analyst Downgrade

JPMorgan Chase & Co. (NYSE:JPM)’s stock price fell 7.2% during mid-day trading on Thursday after Bank of America lowered their price target on the stock from $285.00 to $284.00. Bank of America currently has a buy rating on the stock. JPMorgan Chase & Co. traded as low as $227.30 and last traded at $228.09. 6,237,244 shares changed hands during trading, a decline of 33% from the average session volume of 9,356,802 shares. The stock had previously closed at $245.82.

Other equities research analysts also recently issued reports about the stock. UBS Group boosted their price target on shares of JPMorgan Chase & Co. from $276.00 to $287.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Keefe, Bruyette & Woods upped their price target on JPMorgan Chase & Co. from $257.00 to $264.00 and gave the stock a “market perform” rating in a research note on Thursday, January 16th. Wolfe Research raised JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 price objective for the company in a research note on Friday, January 3rd. Baird R W raised JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a research note on Friday, March 7th. Finally, Evercore ISI dropped their target price on JPMorgan Chase & Co. from $273.00 to $265.00 and set an “outperform” rating for the company in a research report on Tuesday. Ten equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, JPMorgan Chase & Co. has a consensus rating of “Moderate Buy” and a consensus target price of $255.06.

Insider Transactions at JPMorgan Chase & Co.

In other news, COO Jennifer Piepszak sold 4,273 shares of JPMorgan Chase & Co. stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $269.85, for a total transaction of $1,153,069.05. Following the sale, the chief operating officer now owns 54,469 shares in the company, valued at approximately $14,698,459.65. The trade was a 7.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Robin Leopold sold 1,250 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $270.09, for a total value of $337,612.50. Following the transaction, the insider now owns 50,377 shares in the company, valued at $13,606,323.93. This represents a 2.42 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 76,848 shares of company stock valued at $19,987,908. 0.79% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Redwood Park Advisors LLC purchased a new stake in JPMorgan Chase & Co. during the 4th quarter valued at approximately $29,000. Sellwood Investment Partners LLC purchased a new stake in shares of JPMorgan Chase & Co. during the fourth quarter worth approximately $34,000. Investment Counsel Co. of Nevada acquired a new stake in shares of JPMorgan Chase & Co. during the fourth quarter worth $37,000. Midwest Capital Advisors LLC purchased a new position in JPMorgan Chase & Co. in the 4th quarter valued at $43,000. Finally, Prudent Man Investment Management Inc. acquired a new position in JPMorgan Chase & Co. in the 4th quarter valued at $43,000. 71.55% of the stock is currently owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Stock Performance

The company has a market cap of $640.36 billion, a PE ratio of 11.60, a P/E/G ratio of 2.83 and a beta of 1.10. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.89 and a current ratio of 0.88. The stock’s 50-day simple moving average is $256.54 and its 200 day simple moving average is $241.36.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $4.81 EPS for the quarter, beating analysts’ consensus estimates of $4.03 by $0.78. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The firm had revenue of $42.77 billion during the quarter, compared to the consensus estimate of $41.90 billion. During the same quarter last year, the firm earned $3.04 earnings per share. The firm’s revenue was up 10.9% compared to the same quarter last year. As a group, equities analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Friday, April 4th will be issued a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date is Friday, April 4th. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. JPMorgan Chase & Co.’s dividend payout ratio is currently 28.37%.

JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.