JPMorgan Chase & Co. (NYSE:JPM) Stock Price Down 1.5% - Here's Why

JPMorgan Chase & Co. (NYSE:JPM) was down 1.5% during trading on Friday . The stock traded as low as $239.25 and last traded at $239.45. Approximately 3,369,940 shares traded hands during mid-day trading, a decline of 59% from the average daily volume of 8,165,853 shares. The stock had previously closed at $243.13.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on JPM. Oppenheimer cut JPMorgan Chase & Co. from an "outperform" rating to a "market perform" rating in a research report on Wednesday, November 20th. Piper Sandler increased their target price on shares of JPMorgan Chase & Co. from $240.00 to $275.00 and gave the stock an "overweight" rating in a research note on Tuesday, December 3rd. Truist Financial began coverage on shares of JPMorgan Chase & Co. in a research report on Tuesday. They set a "hold" rating and a $260.00 price target for the company. Keefe, Bruyette & Woods increased their price objective on JPMorgan Chase & Co. from $216.00 to $254.00 and gave the stock a "market perform" rating in a research report on Tuesday, December 3rd. Finally, Wolfe Research upgraded JPMorgan Chase & Co. from a "peer perform" rating to an "outperform" rating and set a $269.00 target price for the company in a research report on Friday, January 3rd. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $245.83.

JPMorgan Chase & Co. Price Performance

The firm's 50 day simple moving average is $241.59 and its two-hundred day simple moving average is $222.53. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.89 and a quick ratio of 0.89. The firm has a market capitalization of $675.74 billion, a P/E ratio of 13.36, a P/E/G ratio of 3.54 and a beta of 1.11.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share for the quarter, beating analysts' consensus estimates of $4.02 by $0.35. The company had revenue of $43.32 billion during the quarter, compared to analyst estimates of $41.43 billion. JPMorgan Chase & Co. had a return on equity of 16.71% and a net margin of 19.64%. JPMorgan Chase & Co.'s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.33 EPS. As a group, analysts predict that JPMorgan Chase & Co. will post 17.62 earnings per share for the current year.

JPMorgan Chase & Co. Dividend Announcement

The business 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 dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date is Monday, January 6th. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is presently 27.82%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Mizuho Securities Co. Ltd. purchased a new stake in shares of JPMorgan Chase & Co. during the third quarter worth about $25,000. Catalyst Capital Advisors LLC purchased a new stake in JPMorgan Chase & Co. in the 3rd quarter worth approximately $27,000. Fairway Wealth LLC bought a new stake in shares of JPMorgan Chase & Co. in the 2nd quarter worth approximately $32,000. West Financial Advisors LLC purchased a new position in shares of JPMorgan Chase & Co. during the third quarter valued at approximately $37,000. Finally, New England Capital Financial Advisors LLC raised its holdings in shares of JPMorgan Chase & Co. by 38.5% during the third quarter. New England Capital Financial Advisors LLC now owns 180 shares of the financial services provider's stock valued at $38,000 after acquiring an additional 50 shares in 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.