JPMorgan Chase & Co. (NYSE:JPM) Trading Down 0.5% – Here’s What Happened

Shares of JPMorgan Chase & Co. (NYSE:JPM) were down 0.5% during trading on Wednesday . The stock traded as low as $260.25 and last traded at $261.59. Approximately 1,884,185 shares were traded during mid-day trading, a decline of 83% from the average daily volume of 11,194,559 shares. The stock had previously closed at $263.03.

Wall Street Analyst Weigh In

Several research firms recently issued reports on JPM. Oppenheimer lowered shares of JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 20th. Baird R W downgraded JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 7th. Piper Sandler raised their price objective on JPMorgan Chase & Co. from $240.00 to $275.00 and gave the company an “overweight” rating in a research note on Tuesday, December 3rd. Wells Fargo & Company upped their target price on JPMorgan Chase & Co. from $240.00 to $270.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Finally, Morgan Stanley cut shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and boosted their price objective for the stock from $220.00 to $224.00 in a research note on Monday, September 30th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, JPMorgan Chase & Co. presently has a consensus rating of “Hold” and an average price target of $251.78.

JPMorgan Chase & Co. Stock Performance

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 company has a market capitalization of $745.09 billion, a P/E ratio of 13.41, a price-to-earnings-growth ratio of 2.83 and a beta of 1.11. The firm has a 50 day moving average price of $245.28 and a two-hundred day moving average price of $225.83.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings results 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 for the quarter, compared to analyst estimates of $41.90 billion. During the same period in the previous year, the business earned $3.04 earnings per share. The company’s revenue for the quarter was up 10.9% compared to the same quarter last year. On average, research analysts expect that JPMorgan Chase & Co. will post 17.82 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. Shareholders of record on Monday, January 6th will be issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 1.89%. The ex-dividend date is Monday, January 6th. JPMorgan Chase & Co.’s dividend payout ratio is 25.33%.

Insider Activity at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 3,303 shares of the firm’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $253.94, for a total transaction of $838,763.82. Following the transaction, the general counsel now owns 47,620 shares in the company, valued at approximately $12,092,622.80. This trade represents a 6.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.79% of the stock is owned by company insiders.

Hedge Funds Weigh In On JPMorgan Chase & Co.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC lifted its holdings in shares of JPMorgan Chase & Co. by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 58,344,186 shares of the financial services provider’s stock valued at $12,258,346,000 after purchasing an additional 505,830 shares in the last quarter. Fisher Asset Management LLC lifted its position in JPMorgan Chase & Co. by 31.7% in the 3rd quarter. Fisher Asset Management LLC now owns 16,784,272 shares of the financial services provider’s stock valued at $3,539,132,000 after acquiring an additional 4,043,841 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in JPMorgan Chase & Co. by 2.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 15,084,919 shares of the financial services provider’s stock worth $3,180,806,000 after purchasing an additional 302,592 shares during the period. Franklin Resources Inc. boosted its position in shares of JPMorgan Chase & Co. by 7.2% during the third quarter. Franklin Resources Inc. now owns 15,073,193 shares of the financial services provider’s stock worth $3,338,955,000 after buying an additional 1,016,289 shares during the period. Finally, International Assets Investment Management LLC bought a new position in shares of JPMorgan Chase & Co. during the 3rd quarter worth approximately $1,888,088,000. 71.55% of the stock is owned by institutional investors.

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.