JPMorgan Chase & Co. (NYSE:JPM) Trading Down 1.1% – Here’s Why

JPMorgan Chase & Co. (NYSE:JPM) dropped 1.1% on Thursday . The stock traded as low as $341.11 and last traded at $343.0250. 12,328,239 shares traded hands during mid-day trading, an increase of 21% from the average session volume of 10,187,672 shares. The stock had previously closed at $346.91.

More JPMorgan Chase & Co. News

Here are the key news stories impacting JPMorgan Chase & Co. this week:

• Positive Sentiment: JPMorgan reported record second-quarter results, including $21.2 billion in net income, with CEO Jamie Dimon saying the economy is “close to as good as it gets,” reinforcing confidence in the bank’s core franchise. Article Title
• Positive Sentiment: Equities trading revenue jumped 86%, and JPMorgan raised its full-year net interest income guidance to $105.5 billion, signaling stronger-than-expected earnings momentum going forward. Article Title
• Positive Sentiment: Bank of America raised its price target on JPM to $420 and reiterated a buy rating, while other firms also lifted targets, reflecting growing optimism after the earnings beat. Article Title
• Positive Sentiment: Analysts highlighted record Q2 earnings, strong market performance, and capital flexibility as reasons JPMorgan could sustain above-average profitability, supporting the stock’s valuation. Article Title
• Neutral Sentiment: JPMorgan declared preferred stock dividends, a routine capital-return move that signals balance-sheet stability but is unlikely to change the near-term stock story. Article Title
• Negative Sentiment: One note of caution: JPMorgan also raised its expense outlook to $107.5 billion, which some commentary said is why the shares dipped even after the strong earnings report. Article Title

Wall Street Analyst Weigh In

A number of research firms have commented on JPM. Truist Financial boosted their target price on JPMorgan Chase & Co. from $344.00 to $352.00 and gave the stock a “hold” rating in a research report on Wednesday. Keefe, Bruyette & Woods raised their price target on JPMorgan Chase & Co. from $370.00 to $384.00 and gave the company an “outperform” rating in a research report on Wednesday. Wells Fargo & Company lifted their price target on JPMorgan Chase & Co. from $360.00 to $375.00 and gave the stock an “overweight” rating in a research note on Wednesday. Royal Bank Of Canada increased their price objective on shares of JPMorgan Chase & Co. from $330.00 to $370.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Zacks Research downgraded shares of JPMorgan Chase & Co. from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 8th. Fifteen research analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the stock. According to data from MarketBeat.com, JPMorgan Chase & Co. presently has an average rating of “Moderate Buy” and an average price target of $354.92.

JPMorgan Chase & Co. Stock Down 1.1%

The stock has a market cap of $919.14 billion, a price-to-earnings ratio of 14.70, a P/E/G ratio of 1.56 and a beta of 0.99. The company has a current ratio of 0.85, a quick ratio of 0.86 and a debt-to-equity ratio of 1.30. The firm’s 50 day moving average is $317.58 and its two-hundred day moving average is $309.98.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings results on Tuesday, April 14th. The financial services provider reported $5.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.50 by $0.44. The company had revenue of $50.54 billion for the quarter, compared to analysts’ expectations of $48.30 billion. JPMorgan Chase & Co. had a net margin of 21.86% and a return on equity of 18.23%. The firm’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same period last year, the company earned $5.07 EPS. On average, sell-side analysts predict that JPMorgan Chase & Co. will post 22.82 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Monday, July 6th will be given a dividend of $1.50 per share. The ex-dividend date is Monday, July 6th. This represents a $6.00 dividend on an annualized basis and a yield of 1.7%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 25.71%.

Insiders Place Their Bets

In other news, General Counsel Stacey Friedman sold 5,467 shares of the firm’s stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $330.73, for a total transaction of $1,808,100.91. Following the sale, the general counsel owned 40,961 shares in the company, valued at $13,547,031.53. This trade represents a 11.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jennifer Piepszak sold 4,919 shares of JPMorgan Chase & Co. stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $309.42, for a total value of $1,522,036.98. Following the completion of the sale, the chief operating officer directly owned 85,082 shares of the company’s stock, valued at approximately $26,326,072.44. This represents a 5.47% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 18,876 shares of company stock valued at $5,907,051. Company insiders own 0.41% of the company’s stock.

Institutional Trading of JPMorgan Chase & Co.

A number of hedge funds have recently added to or reduced their stakes in the business. Brighton Jones LLC boosted its position in shares of JPMorgan Chase & Co. by 11.0% in the fourth quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider’s stock worth $11,682,000 after acquiring an additional 4,841 shares during the last quarter. Acorns Advisers LLC increased its holdings in shares of JPMorgan Chase & Co. by 6.9% during the 1st quarter. Acorns Advisers LLC now owns 1,547 shares of the financial services provider’s stock worth $379,000 after buying an additional 100 shares during the last quarter. Ignite Planners LLC increased its holdings in shares of JPMorgan Chase & Co. by 0.7% during the 2nd quarter. Ignite Planners LLC now owns 10,934 shares of the financial services provider’s stock worth $3,185,000 after buying an additional 78 shares during the last quarter. Jump Financial LLC purchased a new position in shares of JPMorgan Chase & Co. in the 2nd quarter worth $1,475,000. Finally, Betterment LLC boosted its holdings in JPMorgan Chase & Co. by 27.5% in the second quarter. Betterment LLC now owns 1,970 shares of the financial services provider’s stock valued at $571,000 after acquiring an additional 425 shares during the last quarter. 71.55% of the stock is owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co (NYSE: JPM) is a diversified global financial services firm headquartered in New York City. The company provides a wide range of banking and financial products and services to consumers, small businesses, corporations, governments and institutional investors worldwide. Its operations span retail banking, commercial lending, investment banking, asset management, payments and card services, and treasury and securities services.

The firm’s principal business activities are organized across several core lines: Consumer & Community Banking, which offers deposit accounts, mortgages, auto loans, credit cards and branch and digital banking under the Chase brand; Corporate & Investment Banking, which provides capital markets, advisory, underwriting, trading and risk management services; Commercial Banking, delivering lending, treasury and capital solutions to middle-market and corporate clients; and Asset & Wealth Management, which offers investment management, private banking and retirement services to institutions and high-net-worth individuals.