JPMorgan Chase & Co. (NYSE:JPM) Shares Down 1.4% – Here’s What Happened

Shares of JPMorgan Chase & Co. (NYSE:JPM) dropped 1.4% during trading on Monday . The stock traded as low as $258.61 and last traded at $260.67. Approximately 2,662,164 shares traded hands during mid-day trading, a decline of 71% from the average daily volume of 9,258,344 shares. The stock had previously closed at $264.24.

Analysts Set New Price Targets

JPM has been the subject of a number of research analyst reports. UBS Group raised their price objective on JPMorgan Chase & Co. from $276.00 to $287.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Truist Financial raised their price target on JPMorgan Chase & Co. from $260.00 to $268.00 and gave the company a “hold” rating in a report on Thursday, January 16th. Bank of America upped their price objective on JPMorgan Chase & Co. from $260.00 to $280.00 and gave the stock a “buy” rating in a report on Tuesday, January 7th. Baird R W lowered shares of JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a report on Thursday, November 7th. Finally, Oppenheimer cut shares of JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 20th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $251.78.

JPMorgan Chase & Co. Stock Down 1.0 %

The company has a 50-day simple moving average of $256.12 and a 200-day simple moving average of $235.45. The firm has a market cap of $731.80 billion, a PE ratio of 13.26, a price-to-earnings-growth ratio of 2.83 and a beta of 1.12. 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 results 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. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. The firm had revenue of $42.77 billion during the quarter, compared to analyst estimates of $41.90 billion. JPMorgan Chase & Co.’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same period last year, the company earned $3.04 EPS. Analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Monday, January 6th were paid a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date was Monday, January 6th. JPMorgan Chase & Co.’s dividend payout ratio is currently 25.33%.

Insider Transactions at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, CEO Troy L. Rohrbaugh sold 37,500 shares of the business’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $269.84, for a total value of $10,119,000.00. Following the completion of the sale, the chief executive officer now directly owns 158,381 shares of the company’s stock, valued at $42,737,529.04. The trade was a 19.14 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Robin Leopold sold 1,250 shares of the company’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $270.09, for a total transaction of $337,612.50. Following the completion of the transaction, the insider now owns 50,377 shares in the company, valued at $13,606,323.93. This represents a 2.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 46,326 shares of company stock worth $12,448,445. Insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On JPMorgan Chase & Co.

Institutional investors and hedge funds have recently bought and sold shares of the company. Mizuho Securities Co. Ltd. bought a new position in JPMorgan Chase & Co. in the third quarter worth approximately $25,000. Catalyst Capital Advisors LLC purchased a new position in shares of JPMorgan Chase & Co. in the 3rd quarter valued at $27,000. Redwood Park Advisors LLC bought a new position in shares of JPMorgan Chase & Co. in the 4th quarter worth $29,000. Sellwood Investment Partners LLC bought a new position in shares of JPMorgan Chase & Co. in the 4th quarter worth $34,000. Finally, Investment Counsel Co. of Nevada purchased a new stake in shares of JPMorgan Chase & Co. during the 4th quarter worth $37,000. 71.55% of the stock is owned by institutional investors.

About JPMorgan Chase & Co.

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. The firm offers a range of investment banking products and services in all capital markets, including advising on corporate strategy and structure, capital raising in equity and debt markets, risk management, market making in cash securities and derivative instruments, and brokerage and research.