JPMorgan Chase & Co. (NYSE:JPM) Sees Significant Decline in Short Interest

JPMorgan Chase & Co. (NYSE:JPM) saw a significant drop in short interest in the month of October. As of October 31st, there was short interest totalling 26,260,000 shares, a drop of 6.4% from the October 15th total of 28,070,000 shares. Currently, 0.9% of the shares of the stock are sold short. Based on an average trading volume of 8,630,000 shares, the days-to-cover ratio is currently 3.0 days.

JPMorgan Chase & Co. Trading Up 0.2 %

NYSE JPM traded up $0.47 during trading on Monday, reaching $245.78. 510,661 shares of the stock traded hands, compared to its average volume of 9,072,594. The stock’s 50-day moving average price is $219.50 and its 200 day moving average price is $210.17. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.27. The firm has a market cap of $691.95 billion, a price-to-earnings ratio of 13.65, a price-to-earnings-growth ratio of 3.56 and a beta of 1.10. JPMorgan Chase & Co. has a fifty-two week low of $151.92 and a fifty-two week high of $248.00.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings data on Friday, October 11th. The financial services provider reported $4.37 EPS for the quarter, beating analysts’ consensus estimates of $4.02 by $0.35. The business had revenue of $43.32 billion during the quarter, compared to analysts’ expectations of $41.43 billion. JPMorgan Chase & Co. had a net margin of 19.64% and a return on equity of 16.71%. The firm’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.33 EPS. Analysts predict that JPMorgan Chase & Co. will post 17.62 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, October 4th were given a dividend of $1.25 per share. The ex-dividend date was Friday, October 4th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.03%. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 27.82%.

Hedge Funds Weigh In On JPMorgan Chase & Co.

Institutional investors and hedge funds have recently modified their holdings of the business. Mizuho Securities Co. Ltd. bought a new stake in shares of JPMorgan Chase & Co. during the third quarter worth $25,000. Catalyst Capital Advisors LLC bought a new position in JPMorgan Chase & Co. during the 3rd quarter worth about $27,000. Fairway Wealth LLC acquired a new stake in shares of JPMorgan Chase & Co. in the 2nd quarter valued at about $32,000. Anfield Capital Management LLC bought a new stake in shares of JPMorgan Chase & Co. in the second quarter valued at about $34,000. Finally, West Financial Advisors LLC acquired a new position in shares of JPMorgan Chase & Co. during the third quarter worth about $37,000. 71.55% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Oppenheimer upped their target price on shares of JPMorgan Chase & Co. from $232.00 to $241.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. Royal Bank of Canada raised their price objective on shares of JPMorgan Chase & Co. from $211.00 to $230.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Morgan Stanley downgraded JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and boosted their target price for the stock from $220.00 to $224.00 in a report on Monday, September 30th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $235.00 price target on shares of JPMorgan Chase & Co. in a report on Tuesday, September 3rd. Finally, Barclays boosted their price objective on JPMorgan Chase & Co. from $217.00 to $257.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, JPMorgan Chase & Co. has a consensus rating of “Hold” and an average price target of $227.13.

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.