JPMorgan Chase & Co. (NYSE:JPM) Lowered to Underperform Rating by Robert W. Baird

Robert W. Baird cut shares of JPMorgan Chase & Co. (NYSE:JPM) from a neutral rating to an underperform rating in a research note released on Thursday morning, MarketBeat reports. The brokerage currently has $200.00 price objective on the financial services provider's stock.

A number of other equities analysts also recently issued reports on the company. Royal Bank of Canada lifted their price target on JPMorgan Chase & Co. from $211.00 to $230.00 and gave the company an "outperform" rating in a research note on Monday, October 14th. Morgan Stanley downgraded JPMorgan Chase & Co. from an "overweight" rating to an "equal weight" rating and upped their price target for the stock from $220.00 to $224.00 in a report on Monday, September 30th. Daiwa Capital Markets cut their price objective on shares of JPMorgan Chase & Co. from $240.00 to $235.00 and set an "overweight" rating on the stock in a report on Thursday, October 10th. Evercore ISI upped their target price on shares of JPMorgan Chase & Co. from $217.00 to $230.00 and gave the stock an "outperform" rating in a research note on Monday, October 14th. Finally, Citigroup boosted their price target on shares of JPMorgan Chase & Co. from $205.00 to $215.00 and gave the stock a "neutral" rating in a report on Monday, July 15th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $224.31.

JPMorgan Chase & Co. Stock Down 4.3 %

JPM traded down $10.70 during midday trading on Thursday, hitting $236.36. The company had a trading volume of 16,437,183 shares, compared to its average volume of 9,093,089. The stock's 50 day moving average price is $216.71 and its 200 day moving average price is $207.71. JPMorgan Chase & Co. has a 52 week low of $143.62 and a 52 week high of $248.00. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.27. The company has a market capitalization of $665.43 billion, a price-to-earnings ratio of 13.15, a PEG ratio of 3.21 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its quarterly earnings results on Friday, October 11th. The financial services provider reported $4.37 EPS for the quarter, beating analysts' consensus estimates 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 business had revenue of $43.32 billion during the quarter, compared to analyst estimates of $41.43 billion. During the same quarter in the previous year, the business posted $4.33 EPS. JPMorgan Chase & Co.'s quarterly revenue was up 6.5% on a year-over-year basis. On average, research analysts anticipate that JPMorgan Chase & Co. will post 17.52 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 4th were issued a dividend of $1.25 per share. This is a boost from JPMorgan Chase & Co.'s previous quarterly dividend of $1.15. The ex-dividend date was Friday, October 4th. This represents a $5.00 dividend on an annualized basis and a yield of 2.12%. JPMorgan Chase & Co.'s payout ratio is presently 27.82%.

Institutional Investors Weigh In On JPMorgan Chase & Co.

A number of institutional investors and hedge funds have recently modified their holdings of the company. Lindenwold Advisors INC grew its holdings in shares of JPMorgan Chase & Co. by 0.7% during the third quarter. Lindenwold Advisors INC now owns 12,160 shares of the financial services provider's stock worth $2,564,000 after purchasing an additional 82 shares in the last quarter. Baron Wealth Management LLC increased its stake in JPMorgan Chase & Co. by 4.9% in the 3rd quarter. Baron Wealth Management LLC now owns 5,110 shares of the financial services provider's stock worth $1,077,000 after purchasing an additional 239 shares during the period. Joseph Group Capital Management increased its stake in shares of JPMorgan Chase & Co. by 7.4% in the third quarter. Joseph Group Capital Management now owns 18,153 shares of the financial services provider's stock worth $3,828,000 after buying an additional 1,256 shares during the period. OneAscent Wealth Management LLC raised its stake in shares of JPMorgan Chase & Co. by 10.3% during the third quarter. OneAscent Wealth Management LLC now owns 3,721 shares of the financial services provider's stock valued at $785,000 after acquiring an additional 346 shares during the last quarter. Finally, Nixon Peabody Trust Co. raised its position in JPMorgan Chase & Co. by 0.5% during the 3rd quarter. Nixon Peabody Trust Co. now owns 84,398 shares of the financial services provider's stock valued at $17,796,000 after purchasing an additional 442 shares during the last quarter. 71.55% of the stock is 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.