JPMorgan Chase & Co. (NYSE:JPM) Shares Down 0.2% – Here’s What Happened

Shares of JPMorgan Chase & Co. (NYSE:JPM) dropped 0.2% during mid-day trading on Wednesday . The stock traded as low as $237.73 and last traded at $237.93. Approximately 1,512,898 shares traded hands during mid-day trading, a decline of 83% from the average daily volume of 8,958,412 shares. The stock had previously closed at $238.36.

Analyst Ratings Changes

JPM has been the subject of several recent research reports. Robert W. Baird cut JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 price target for the company. in a research note on Thursday, November 7th. Wells Fargo & Company boosted their price target on JPMorgan Chase & Co. from $240.00 to $270.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Oppenheimer cut JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 20th. Keefe, Bruyette & Woods boosted their price target on JPMorgan Chase & Co. from $216.00 to $254.00 and gave the company a “market perform” rating in a research note on Tuesday, December 3rd. Finally, Piper Sandler boosted their price target 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. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $234.81.

JPMorgan Chase & Co. Stock Down 1.2 %

The firm’s fifty day moving average price is $235.22 and its 200-day moving average price is $217.43. The company has a market capitalization of $662.76 billion, a price-to-earnings ratio of 13.10, a P/E/G ratio of 3.54 and a beta of 1.11. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.89 and a quick ratio of 0.89.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.02 by $0.35. The company had revenue of $43.32 billion during the quarter, compared to the consensus estimate of $41.43 billion. JPMorgan Chase & Co. had a net margin of 19.64% and a return on equity of 16.71%. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period in the prior year, the business earned $4.33 earnings per share. Sell-side analysts expect that JPMorgan Chase & Co. will post 17.62 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, January 6th will be paid a dividend of $1.25 per share. The ex-dividend date of this dividend is Monday, January 6th. This represents a $5.00 dividend on an annualized basis and a yield of 2.12%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 27.82%.

Hedge Funds Weigh In On JPMorgan Chase & Co.

A number of hedge funds have recently added to or reduced their stakes in the stock. Eagle Capital Management LLC boosted its stake in shares of JPMorgan Chase & Co. by 0.4% in the 2nd quarter. Eagle Capital Management LLC now owns 21,867 shares of the financial services provider’s stock worth $4,423,000 after buying an additional 84 shares during the last quarter. Milestone Asset Management LLC raised its holdings in shares of JPMorgan Chase & Co. by 93.1% in the 2nd quarter. Milestone Asset Management LLC now owns 7,868 shares of the financial services provider’s stock worth $1,591,000 after purchasing an additional 3,793 shares during the period. Sara Bay Financial raised its holdings in shares of JPMorgan Chase & Co. by 12.2% in the 2nd quarter. Sara Bay Financial now owns 69,801 shares of the financial services provider’s stock worth $14,118,000 after purchasing an additional 7,590 shares during the period. Apollon Financial LLC raised its holdings in shares of JPMorgan Chase & Co. by 4.6% in the 2nd quarter. Apollon Financial LLC now owns 4,824 shares of the financial services provider’s stock worth $976,000 after purchasing an additional 212 shares during the period. Finally, Brand Asset Management Group Inc. raised its holdings in shares of JPMorgan Chase & Co. by 115.1% in the 2nd quarter. Brand Asset Management Group Inc. now owns 2,323 shares of the financial services provider’s stock worth $470,000 after purchasing an additional 1,243 shares during the period. Institutional investors and hedge funds own 71.55% of the company’s stock.

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.