JPMorgan Chase & Co. (NYSE:JPM) Stock Price Down 1.3% – Here’s Why

JPMorgan Chase & Co. (NYSE:JPM) shares fell 1.3% on Wednesday . The stock traded as low as $238.64 and last traded at $240.02. 2,263,022 shares changed hands during trading, a decline of 75% from the average session volume of 9,069,489 shares. The stock had previously closed at $243.09.

Wall Street Analysts Forecast Growth

JPM has been the topic of a number of research reports. Morgan Stanley lowered shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and raised their price target for the company from $220.00 to $224.00 in a research note on Monday, September 30th. Robert W. Baird lowered shares of JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 target price for the company. in a report on Thursday, November 7th. Wells Fargo & Company raised their price target on shares of JPMorgan Chase & Co. from $240.00 to $270.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Evercore ISI upped their price objective on shares of JPMorgan Chase & Co. from $217.00 to $230.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Finally, Daiwa Capital Markets decreased their target price on shares of JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating on the stock in a research note on Thursday, October 10th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $229.31.

JPMorgan Chase & Co. Price Performance

The company has a market cap of $676.36 billion, a PE ratio of 13.30, a P/E/G ratio of 3.56 and a beta of 1.10. The stock has a 50-day simple moving average of $220.81 and a 200 day simple moving average of $210.92. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.27.

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

JPMorgan Chase & Co. Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 4th were given a $1.25 dividend. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. This represents a $5.00 annualized dividend and a yield of 2.08%. The ex-dividend date was Friday, October 4th. JPMorgan Chase & Co.’s payout ratio is currently 27.82%.

Hedge Funds Weigh In On JPMorgan Chase & Co.

Several institutional investors have recently modified their holdings of JPM. WFA Asset Management Corp lifted its position in shares of JPMorgan Chase & Co. by 51.2% during the 1st quarter. WFA Asset Management Corp now owns 1,216 shares of the financial services provider’s stock worth $244,000 after purchasing an additional 412 shares during the last quarter. China Universal Asset Management Co. Ltd. purchased a new stake in JPMorgan Chase & Co. during the 1st quarter worth about $1,185,000. Hoey Investments Inc. boosted its position in shares of JPMorgan Chase & Co. by 5.9% during the 1st quarter. Hoey Investments Inc. now owns 22,378 shares of the financial services provider’s stock worth $4,482,000 after acquiring an additional 1,247 shares in the last quarter. Cumberland Partners Ltd purchased a new position in shares of JPMorgan Chase & Co. in the 1st quarter valued at about $445,000. Finally, Wintrust Investments LLC raised its position in shares of JPMorgan Chase & Co. by 0.6% during the 1st quarter. Wintrust Investments LLC now owns 47,661 shares of the financial services provider’s stock worth $9,547,000 after acquiring an additional 266 shares in the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

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.