Short Interest in JPMorgan Chase & Co. (NYSE:JPM) Grows By 9.5%

JPMorgan Chase & Co. (NYSE:JPM) saw a large increase in short interest in August. As of August 31st, there was short interest totalling 27,680,000 shares, an increase of 9.5% from the August 15th total of 25,290,000 shares. Currently, 1.0% of the company’s stock are short sold. Based on an average daily volume of 9,100,000 shares, the short-interest ratio is presently 3.0 days.

JPMorgan Chase & Co. Stock Performance

NYSE:JPM traded down $1.65 during mid-day trading on Wednesday, reaching $207.60. 8,255,743 shares of the company’s stock were exchanged, compared to its average volume of 9,139,158. JPMorgan Chase & Co. has a one year low of $135.19 and a one year high of $225.48. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.91 and a current ratio of 0.91. The business’s fifty day simple moving average is $211.43 and its two-hundred day simple moving average is $201.40. The firm has a market capitalization of $596.16 billion, a PE ratio of 11.58, a price-to-earnings-growth ratio of 2.33 and a beta of 1.12.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Friday, July 12th. The financial services provider reported $6.12 EPS for the quarter, topping the consensus estimate of $4.19 by $1.93. The company had revenue of $50.80 billion for the quarter, compared to analysts’ expectations of $42.23 billion. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.26%. During the same period last year, the firm earned $4.37 earnings per share. Analysts anticipate that JPMorgan Chase & Co. will post 16.78 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 4th will be issued a $1.25 dividend. The ex-dividend date of this dividend is Friday, October 4th. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. This represents a $5.00 annualized dividend and a yield of 2.41%. JPMorgan Chase & Co.’s payout ratio is currently 25.66%.

Analyst Ratings Changes

Several research firms recently weighed in on JPM. Evercore ISI raised their target price on shares of JPMorgan Chase & Co. from $210.00 to $211.00 and gave the company an “outperform” rating in a research note on Monday, July 15th. Morgan Stanley lowered their price objective on shares of JPMorgan Chase & Co. from $226.00 to $220.00 and set an “overweight” rating on the stock in a research note on Thursday, September 12th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $235.00 target price on shares of JPMorgan Chase & Co. in a research note on Tuesday, September 3rd. Keefe, Bruyette & Woods lifted their price target on JPMorgan Chase & Co. from $209.00 to $211.00 and gave the stock a “market perform” rating in a report on Tuesday, July 9th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $211.00 price objective on shares of JPMorgan Chase & Co. in a research note on Tuesday, May 21st. Eight analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $211.06.

Institutional Trading of JPMorgan Chase & Co.

Institutional investors have recently modified their holdings of the stock. Retirement Group LLC grew its stake in JPMorgan Chase & Co. by 227.1% during the first quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock worth $31,000 after buying an additional 109 shares in the last quarter. Fairway Wealth LLC acquired a new stake in shares of JPMorgan Chase & Co. during the 2nd quarter worth approximately $32,000. Richardson Capital Management LLC bought a new position in JPMorgan Chase & Co. in the first quarter valued at approximately $34,000. Anfield Capital Management LLC bought a new position in JPMorgan Chase & Co. in the second quarter valued at approximately $34,000. Finally, Davidson Capital Management Inc. acquired a new position in JPMorgan Chase & Co. during the first quarter valued at approximately $37,000. 71.55% of the stock is currently owned by 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.