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

JPMorgan Chase & Co. (NYSE:JPM)’s share price dropped 0.5% during trading on Monday . The company traded as low as $237.36 and last traded at $241.58. Approximately 2,493,678 shares were traded during mid-day trading, a decline of 73% from the average daily volume of 9,317,413 shares. The stock had previously closed at $242.85.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on JPM shares. Piper Sandler raised their price target on JPMorgan Chase & Co. from $240.00 to $275.00 and gave the stock an “overweight” rating in a report on Tuesday, December 3rd. Barclays boosted their target price on shares of JPMorgan Chase & Co. from $304.00 to $330.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Evercore ISI decreased their price target on shares of JPMorgan Chase & Co. from $273.00 to $265.00 and set an “outperform” rating for the company in a report on Tuesday. Bank of America boosted their price objective on shares of JPMorgan Chase & Co. from $260.00 to $280.00 and gave the company a “buy” rating in a report on Tuesday, January 7th. Finally, Truist Financial raised their target price on JPMorgan Chase & Co. from $260.00 to $268.00 and gave the stock a “hold” rating in a research note on Thursday, January 16th. Ten research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $254.83.

JPMorgan Chase & Co. Stock Performance

The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.24. The firm’s fifty day moving average price is $256.88 and its two-hundred day moving average price is $241.33. The stock has a market capitalization of $681.06 billion, a PE ratio of 12.34, a price-to-earnings-growth ratio of 2.83 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share for the quarter, beating analysts’ consensus estimates of $4.03 by $0.78. The company had revenue of $42.77 billion during the quarter, compared to analysts’ expectations of $41.90 billion. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The firm’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.04 earnings per share. As a group, equities research analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Friday, April 4th will be issued a $1.40 dividend. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. The ex-dividend date is Friday, April 4th. This represents a $5.60 dividend on an annualized basis and a yield of 2.30%. JPMorgan Chase & Co.’s dividend payout ratio is presently 28.37%.

Insiders Place Their Bets

In other news, General Counsel Stacey Friedman sold 3,303 shares of JPMorgan Chase & Co. stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $253.94, for a total value of $838,763.82. Following the sale, the general counsel now owns 47,620 shares in the company, valued at $12,092,622.80. This trade represents a 6.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Troy L. Rohrbaugh sold 25,000 shares of the company’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $247.02, for a total transaction of $6,175,500.00. Following the transaction, the chief executive officer now owns 133,381 shares of the company’s stock, valued at approximately $32,947,774.62. This trade represents a 15.78 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 76,848 shares of company stock worth $19,987,908. 0.79% of the stock is owned by corporate insiders.

Institutional Trading of JPMorgan Chase & Co.

A number of institutional investors have recently made changes to their positions in JPM. DDD Partners LLC boosted its stake in JPMorgan Chase & Co. by 2.8% during the 4th quarter. DDD Partners LLC now owns 1,416 shares of the financial services provider’s stock worth $339,000 after purchasing an additional 38 shares during the last quarter. Blue Bell Private Wealth Management LLC boosted its position in JPMorgan Chase & Co. by 1.5% during the fourth quarter. Blue Bell Private Wealth Management LLC now owns 2,594 shares of the financial services provider’s stock worth $622,000 after acquiring an additional 38 shares during the last quarter. Rappaport Reiches Capital Management LLC grew its stake in JPMorgan Chase & Co. by 3.8% during the 4th quarter. Rappaport Reiches Capital Management LLC now owns 1,068 shares of the financial services provider’s stock valued at $256,000 after acquiring an additional 39 shares in the last quarter. Yoder Wealth Management Inc. raised its holdings in JPMorgan Chase & Co. by 2.8% in the 4th quarter. Yoder Wealth Management Inc. now owns 1,436 shares of the financial services provider’s stock valued at $344,000 after acquiring an additional 39 shares during the last quarter. Finally, Almanack Investment Partners LLC. lifted its stake in JPMorgan Chase & Co. by 0.8% in the 4th quarter. Almanack Investment Partners LLC. now owns 5,143 shares of the financial services provider’s stock worth $1,233,000 after purchasing an additional 39 shares in the last quarter. 71.55% of the stock is owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.