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

Shares of JPMorgan Chase & Co. (NYSE:JPM) dropped 0.5% during mid-day trading on Thursday . The stock traded as low as $223.32 and last traded at $223.34. Approximately 1,367,685 shares were traded during trading, a decline of 85% from the average daily volume of 8,988,057 shares. The stock had previously closed at $224.41.

Wall Street Analyst Weigh In

JPM has been the subject of several analyst reports. StockNews.com raised shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a report on Saturday, July 13th. Citigroup lifted their price target on shares of JPMorgan Chase & Co. from $205.00 to $215.00 and gave the stock a “neutral” rating in a research report on Monday, July 15th. Piper Sandler boosted their price objective on shares of JPMorgan Chase & Co. from $220.00 to $230.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Barclays upped their price target on shares of JPMorgan Chase & Co. from $217.00 to $257.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Finally, Keefe, Bruyette & Woods upped their price target on shares of JPMorgan Chase & Co. from $209.00 to $211.00 and gave the company a “market perform” rating in a report on Tuesday, July 9th. Nine investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $217.94.

JPMorgan Chase & Co. Price Performance

The company has a market capitalization of $633.68 billion, a P/E ratio of 12.44, a price-to-earnings-growth ratio of 3.28 and a beta of 1.11. The company’s 50-day moving average price is $215.96 and its two-hundred day moving average price is $206.15. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.91 and a quick ratio of 0.91.

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 for the quarter, beating the consensus estimate of $4.02 by $0.35. The company had revenue of $43.32 billion for the quarter, compared to analyst estimates of $41.43 billion. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.26%. The company’s revenue was up 6.5% on a year-over-year basis. During the same period in the prior year, the firm earned $4.33 earnings per share. As a group, sell-side analysts expect that JPMorgan Chase & Co. will post 16.75 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 4th will be given a $1.25 dividend. The ex-dividend date is Friday, October 4th. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. This represents a $5.00 annualized dividend and a dividend yield of 2.24%. JPMorgan Chase & Co.’s dividend payout ratio is presently 27.82%.

Hedge Funds Weigh In On JPMorgan Chase & Co.

Several large investors have recently modified their holdings of JPM. Vicus Capital grew its stake in shares of JPMorgan Chase & Co. by 15.1% in the first quarter. Vicus Capital now owns 10,931 shares of the financial services provider’s stock valued at $2,190,000 after acquiring an additional 1,437 shares in the last quarter. Kathleen S. Wright Associates Inc. acquired a new stake in JPMorgan Chase & Co. during the first quarter worth about $40,000. CRA Financial Services LLC grew its stake in JPMorgan Chase & Co. by 0.8% during the first quarter. CRA Financial Services LLC now owns 10,203 shares of the financial services provider’s stock worth $2,044,000 after buying an additional 82 shares in the last quarter. Brown Miller Wealth Management LLC grew its stake in JPMorgan Chase & Co. by 3.1% during the first quarter. Brown Miller Wealth Management LLC now owns 45,284 shares of the financial services provider’s stock worth $9,070,000 after buying an additional 1,359 shares in the last quarter. Finally, Foguth Wealth Management LLC. acquired a new stake in JPMorgan Chase & Co. during the first quarter worth about $220,000. 71.55% of the stock is owned by institutional investors.

JPMorgan Chase & Co. Company Profile

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.