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

JPMorgan Chase & Co. (NYSE:JPM)’s share price fell 0.5% during trading on Wednesday . The company traded as low as $260.25 and last traded at $261.59. 1,884,185 shares traded hands during trading, a decline of 83% from the average session volume of 11,194,559 shares. The stock had previously closed at $263.03.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Truist Financial lifted 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. Citigroup upped their price objective on shares of 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 cut shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and raised their target price for the stock from $220.00 to $224.00 in a research note on Monday, September 30th. Barclays increased their price target on shares of JPMorgan Chase & Co. from $304.00 to $330.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Finally, Oppenheimer cut JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 20th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $251.78.

JPMorgan Chase & Co. Stock Performance

The company has a fifty day moving average price of $245.28 and a two-hundred day moving average price of $225.83. The company has a market capitalization of $745.09 billion, a P/E ratio of 13.41, a PEG ratio of 2.83 and a beta of 1.11. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.88 and a quick ratio of 0.89.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.03 by $0.78. The company had revenue of $42.77 billion during the quarter, compared to the consensus estimate of $41.90 billion. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. The firm’s revenue was up 10.9% compared to the same quarter last year. During the same period last year, the company earned $3.04 earnings per share. Equities analysts forecast that JPMorgan Chase & Co. will post 17.82 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, January 6th will be paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date of this dividend is Monday, January 6th. JPMorgan Chase & Co.’s dividend payout ratio is 25.33%.

Insider Activity

In related news, General Counsel Stacey Friedman sold 3,303 shares of JPMorgan Chase & Co. stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $253.94, for a total value of $838,763.82. Following the completion of the sale, the general counsel now owns 47,620 shares of the company’s stock, valued at approximately $12,092,622.80. This trade represents a 6.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.79% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On JPMorgan Chase & Co.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Eagle Capital Management LLC increased its position in shares of JPMorgan Chase & Co. by 0.4% during the second quarter. Eagle Capital Management LLC now owns 21,867 shares of the financial services provider’s stock valued at $4,423,000 after acquiring an additional 84 shares during the last quarter. Fiera Capital Corp increased its position in shares of JPMorgan Chase & Co. by 1.7% during the 2nd quarter. Fiera Capital Corp now owns 3,738 shares of the financial services provider’s stock valued at $756,000 after purchasing an additional 63 shares during the last quarter. Beck Bode LLC bought a new stake in shares of JPMorgan Chase & Co. during the 2nd quarter worth $12,648,000. Itau Unibanco Holding S.A. purchased a new position in shares of JPMorgan Chase & Co. in the 2nd quarter worth about $9,025,000. Finally, Fairscale Capital LLC bought a new position in JPMorgan Chase & Co. during the second quarter valued at about $1,403,000. 71.55% of the stock is owned by 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.