JPMorgan Chase & Co. (NYSE:JPM) Stock Price Down 0.8% – Here’s Why

JPMorgan Chase & Co. (NYSE:JPM) shares traded down 0.8% during trading on Tuesday . The stock traded as low as $236.83 and last traded at $237.59. 1,644,245 shares changed hands during mid-day trading, a decline of 82% from the average session volume of 8,962,243 shares. The stock had previously closed at $239.58.

Analysts Set New Price Targets

Several analysts have issued reports on JPM shares. Oppenheimer lowered JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 20th. Royal Bank of Canada boosted their price target on JPMorgan Chase & Co. from $211.00 to $230.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Citigroup boosted their price target on JPMorgan Chase & Co. from $215.00 to $250.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th. Morgan Stanley lowered JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and upped their price objective for the stock from $220.00 to $224.00 in a research note on Monday, September 30th. Finally, Evercore ISI upped their price objective on JPMorgan Chase & Co. from $217.00 to $230.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $234.81.

JPMorgan Chase & Co. Stock Performance

The company has a debt-to-equity ratio of 1.27, a current ratio of 0.89 and a quick ratio of 0.89. The business has a 50-day simple moving average of $234.67 and a 200-day simple moving average of $217.18. The firm has a market capitalization of $669.54 billion, a PE ratio of 13.21, a P/E/G ratio of 3.54 and a beta of 1.11.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings data on Friday, October 11th. The financial services provider reported $4.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.02 by $0.35. JPMorgan Chase & Co. had a return on equity of 16.71% and a net margin of 19.64%. The business had revenue of $43.32 billion for the quarter, compared to the consensus estimate of $41.43 billion. During the same period in the prior year, the business posted $4.33 earnings per share. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. Equities research 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 disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, January 6th will be given 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 2.10%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 27.82%.

Institutional Investors Weigh In On JPMorgan Chase & Co.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Accredited Investors Inc. grew its stake in shares of JPMorgan Chase & Co. by 4.9% during the second quarter. Accredited Investors Inc. now owns 14,174 shares of the financial services provider’s stock valued at $2,867,000 after buying an additional 667 shares during the last quarter. Sageworth Trust Co grew its stake in shares of JPMorgan Chase & Co. by 37.9% during the third quarter. Sageworth Trust Co now owns 2,860 shares of the financial services provider’s stock valued at $603,000 after buying an additional 786 shares during the last quarter. Kingsview Wealth Management LLC grew its stake in shares of JPMorgan Chase & Co. by 2.5% during the third quarter. Kingsview Wealth Management LLC now owns 118,095 shares of the financial services provider’s stock valued at $24,902,000 after buying an additional 2,839 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of JPMorgan Chase & Co. by 16.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 692,809 shares of the financial services provider’s stock valued at $143,594,000 after buying an additional 95,461 shares during the last quarter. Finally, Zions Bancorporation N.A. grew its stake in shares of JPMorgan Chase & Co. by 2.5% during the third quarter. Zions Bancorporation N.A. now owns 11,157 shares of the financial services provider’s stock valued at $2,353,000 after buying an additional 267 shares during the last quarter. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

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.